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What is Arbitrum? Learn about Layer 2 emerging on Ethereum and the ARB token
What is Arbitrum?
Arbitrum is a set of Layer 2 scaling solutions that address the congestion issues on Ethereum. In particular, Layer 2 is a technology or system that runs on Layer 1, they inherit security from Layer 1, and are capable of processing more transactions, reducing costs and increasing transaction confirmation speed. faster than Layer 1.
Arbitrum provides 3 expansion solutions: Rollup (OPU), Channels, Sidechains:
State Channels: Requires users to send a State Snapshot of Ethereum into a Multi-sign Contract. This state will contain important data such as the address's balance. Such a system allows for free off-chain transactions with instant finality and superior privacy.
Sidechains: Independent blockchains with their own independent consensus rules where Ethereum transactions can be transferred to in a supervised manner to reduce the burden on the Ethereum mainnet.
Rollups: Like advanced, non-custodial sidechains, can significantly expand the throughput capacity of the Ethereum mainnet. Up to now, there are four main types of rollups: Optimistic Rollups, zkRollups, Plasma, Validium.