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What Is Arbitrum One? Everything You Need to Know

What-is-Arbitrum-One-Everything-You-Need-To-Know

Arbitrum One protocol aims to reduce most of the downsides and challenges that the Ethereum network is facing in its operation. In recent times, the Ethereum (ETH) blockchain is facing a drastic increase in adoption these days. With this, the massive individual adoption on the ETH network keeps pushing forward as its user-based is rapidly growing overwhelmingly like never before.

In turn, the rising demand for the ETH token these days is causing so much congestion on top of the Ethereum network. To curb this congestion on the Ethereum network, people believe that using on-chain tweaks could be the best answer that can help scale the Ethereum network capabilities.

Others believe that rolling up more intuitive platform upgrades can also be a factor to scale the Ethereum network to enhance its full-time operation. Interestingly, all the proposed solutions that have been mentioned do not only end there.

What Is Arbitrum One?

Arbitrum One is a flagship layer 2 chain that was specifically deployed to supercharge the Ethereum smart contracts capabilities swiftly. It aims to be a game-changer for the ongoing Ethereum downsides. To highlight more, Arbitrum One fully exists as a beta version over the alpha version of the main Arbitrum technology.

Simply put, Arbitrum One is a subset protocol of the main Arbitrum technology. In the crypto space, Arbitrum One is now gaining more traction and momentum because of its novel solution to the existing Ethereum issues.

The novel Arbitrum One blockchain boosts the speed of the ETH blockchain and offers scalability features. Moreover, it does this by adding easy-to-follow privacy features for the progress of the Ethereum network.

Even more, they created the Arbitrum One platform so that developers can even use it to easily operate unmodified Ethereum Virtual Machine (EVM) contracts anywhere at all times.

It also joins the overall Ethereum transactions via an anticipated second layer. But, despite all these functions, Arbitrum One still partly enjoys the open-source Ethereum layer-1 security.

Throwing more light on Arbitrum One function, the protocol further addresses some of the drawbacks that Ethereum smart contracts sometimes face. The flaws in smart contracts include poor efficiency and high execution costs. However, this completely causes more damage to the Ethereum user-based experience while making transactions more difficult to do.

In terms of its operation, Arbitrum One uses a methodology called transaction rollups. Technically, it uses this technique to record a series of transactions via the Ethereum chain. By doing this, it cheaply keeps the transaction and scalable layer 2 sidechain.

At this phase, the Arbitrum One usually helps to remove the more computational and storage burden that Ethereum faces while allowing another powerful layer 2-based Decentralized Applications (DApps) to use the protocol partly.

History of Arbitrum One

Historically, Arbitrum One Rollup came to existence through anticipated blockchain firm Offchain Labs on May 28, 2021. Ed Felton, Stephen Goldfeder, and Harry Kalodner are blockchain experts working as a co-founder for Arbitrum One since its inception.

In addition, the Arbitrum One network is wide open to frequently welcome all developers aboard. To be specific, Arbitrum One quickly came soon after its face-to-face opponent Optimism postponed its full launch.

The core mission of the Arbitrum One protocol is to optimize how the Ethereum network works.

Looking at the pace at which Arbitrum One is gaining traction, it’s more likely that Arbitrum One could soon become the most famous Layer 2 solution. This could be true if most of the leading networks like UniSwap and more popular blockchain-based platforms integrate the network.

How Does Arbitrum One Work?

Never overthink how harder Arbitrum One would work. In fact, Arbitrum One works more simply than your mine. You can also refer to the Arbitrum One protocol as an optimistic rollup. In another sense, Arbitrum One is called Optimistic rollup because it usually allows validators to post a rollup block while validating other side blocks.

It works as a gateway for smart contracts to scale well on top of the Ethereum network. By doing this, Ethereum-based smart contracts acquire the massive strength to strongly convey messages between other smart contracts running on the ETH main chain.

With this, dozens of the transaction processes successfully take place via layer 2. Anytime this happens, the main ETH chain eventually stores all the transactional results securely. This seldom brings extreme growth to the network’s speed which makes it more efficient.

To be precise, the Arbitrum One protocol focuses on making sure that code runs correctly provided the validators are honest. This solely helps the network resist collusion and various sources of attacks.

What Makes Arbitrum One Unique?

The coming of the Arbitrum One protocol is unique in function. The project focuses on leveraging a complete platform for all developers across the globe. Also, it has opened its arms helping developers to launch highly efficient and more scalable Ethereum-compatible smart contracts.

The Arbitrum One technology tries to be a game-changer for ETH. Meanwhile, it is not the first project that looks to swiftly overcome Etthereum’s limitations. There are uncountable projects that are also working harder to provide similar solutions to Ethereum’s uncertainties.

Now, let’s move forward quickly and discuss the most distinctive features that separate Arbitrum One from the others.

High EVM compatibility

Simply put, the acronym EVM means Ethereum Virtual Machine. In fact, Arbitrum One plays a vital role in EVM usage. With this in mind, the Arbitrum One has extreme efficiency as the most EVM-compatible rollups when it comes to offering a scalable solution to Ethererum.

To add more, the Arbitrum One protocol is highly fit with EVM most especially at the bytecode level. This feature usually makes Arbitrum One so easy for developers to work on.

Robust developer tooling

Arbitrum One is a Robust booster. Therefore, reducing barriers or walls of entry when working on a layer 2 solution is one of the Arbitrum One team’s focuses. As a result of this, the team has built credible developer documentation mainly for the Arbitrum One protocol.

With this said, anyone engaged can start with Arbitrum One by using current tooling for Ethereum. At this point, there is no need to download any tools such as plugins, or Hardhat, or Truffle specific for Arbitrum One.

Low fees

The Arbitrum One technology was not designed to be only a layer 2 scaling solution for the Ethereum network. Instead, it is specifically built to also give some other functions than what has been said.

Also, it extremely boosts transactions on Ethereum thereby reducing ETH’s high gas fees at the same time. Thus, it automatically cuts the high fees down to a minor fraction of what is on Ethereum. It also facilitates sufficient incentives for the validators in charge.

Well-developed ecosystem

One more feature of the Arbitrum One protocol is its ecosystem. Thanks to its user-friendly rollup tech. With the support of its ecosystem, Arbitrum One is available, always working with different kinds of DApps and projects.

These base projects within the Arbitrum One’s well-developed ecosystem includes UniSwap, DODO, Sushi, and more others.

Conclusion

In summary, Arbitrum One aims to be the best layer 2 solution technology to curb the existing downsides of Ethereum. Thus, it’s working to reach its goal and mission by quickly offering a superb scalable solution to the Ethereum network.

Alongside this, developers can work flexibly using the Arbitrum One protocol. In other words, helping developers to build more projects on top of the Ethereum network is part of what the Arbitrum One wants to achieve.

Furthermore, Arbitrum One is very fit with Ethereum Virtual Machine (EVM). This eventually aided Arbitrum to drastically improve upon Ethereum’s transaction and also reduce high fees.

The purpose of this article is to enlighten and educate the crypto space and all Ethereum enthusiasts based on how emerging technologies aims to be a game-changer for the challenges that the ETH network faces. We strongly believe that after reading this post you now know what Arbitrum One is.

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.