Ethereum Arbitrum Layer 2 Network Launched in August

Arbitrum, an Ethereum Layer-2 (L2) scaling solution, announced it would launch its mainnet for users this month.

August 9, 2021, | AtoZ Markets – Offchain Labs is planning to launch a second-tier solution for Ethereum scaling this August. Arbitrum rolls allow dApps to significantly reduce gas costs.

According to an article in the Offchain Labs blog, Arbitrum developers have already provided access to the mainnet to over 400 projects, and dozens of them have successfully completed deployments.

“We know that end users are looking forward to interacting with their favorite applications on Arbitrum, and we are pleased to announce that this will be possible at the end of the month. Yes, August. (Yes, 2021) ", - write the developers.

All Arbitrum projects that have completed deployment will be available to users at the same time. In May, it became known that the Uniswap community had approved the launch of the third version of the protocol on Arbitrum.

Recently, Reddit developers announced that they are scaling the Ethereum token system using Arbitrum roll-ups.

Launch Ethereum scaler Arbitrum is "uncharted territory"

Ahead of the launch of the solution, developers will open the Arbitrum One portal to give users quick access to all applications and service providers on Arbitrum.

“Over the past few months, we have worked hard to coordinate the rollouts of hundreds of projects and transfer many of the most popular stablecoins and tokens to Arbitrum. Our core engineering team works tirelessly to ensure the stability, performance, and security of the network, and to deliver the requested functionality. We believe it is time to launch with additional improvements in the process,” the developers note.

Offchain Labs warns that the launch of Ethereum's second-tier network is "uncharted territory." This is an early version of the software, and for now, Arbitrum will work with some limitations. Security will be a top priority for developers, and users need to be prepared for downtime and outages in the early days.

The startup Offchain Labs, which received a $3.7 million investment from Coinbase Labs, launched an alpha version of Arbitrum's solution for scaling the Ethereum network in 2019.

Arbitrum's developers claim they were able to cut gas costs 55x in November 2020 for their port of the Uniswap v2 testnet, supporting 390 swaps per second, compared to 7 swaps on the Ethereum mainnet.

What do you think of the launch of Ethereum scaler Arbitrum? Let us know in the comment section below.

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