Layer 2 address activity slows, but Arbitrum bucks the trend
Layer two activity is cooling for most networks, but Arbitrum has seen an increase in TVL and active addresses recently. On-chain activity for the leading Layer 2 networks has been declining recently, however, the Arbitrum platform is bucking the trend according to recent findings.Blockchain analytics firm Nansen has reported that seven-day activity in terms of addresses for many of the leading networks has been in decline. Only the Ethereum L2 scaling network Arbitrum has shown gains for this metric.According to its Feb. 28 tweet, Arbitrum activity has increased by 12.7% over the past....
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Following the Nitro upgrade, activity on Arbitrum has surged and has nearly two-thirds of the transaction activity seen on the Ethereum base layer. Ethereum layer-2 scaling solution Arbitrum has seen a massive surge in activity since its Nitro update in August, having just clocked around 62% as many transactions as the Ethereum base layer.In a Nov. 1 report, crypto research firm Delphi Digital noted that as of the week ended Oct. 24, Arbitrum’s number of total transactions has increased by 550% since August, citing data from Dune Analytics.This week, @arbitrum had ~62% as many transactions....
On August 4, Arbitrum One, the layer two (L2) Ethereum scaling solution, announced the protocol will implement a significant upgrade called Nitro in 25 days. The highly anticipated Nitro migration will take place on August 31, exactly one year after Offchain Labs, the Arbitrum project maintainers, launched the Arbitrum One mainnet. The Arbitrum team says that developers need to prepare contracts and users should get prepared for faster transactions and lower fees.
Offchain Labs Reveals Migration Date for Arbitrum One’s Nitro Upgrade
Two days ago, the official Arbitrum....
As one of the after-merge solutions, Ethereum added Arbitrum to its layer-2 mainnet. The Ethereum network expects the Arbitrum scaling tool to eliminate the problem of high transaction fees and optimize network scalability. Arbitrum scaling tool enables users access to DeFi applications. Arbitrum network makes token swap almost extremely cheap at 0.60 cents. The recent […]
Binance users can now deposit any ERC-20 tokens from the Ethereum network using Arbitrum quickly and at a reasonable cost. On Friday, Binance announced the integration of the Arbitrum One core network and opened Ether (ETH) deposits on the Arbitrum One layer two.Arbitrum is a third-generation layer-two optimistic rollup protocol that runs on an off-chain Ethereum contract and has lower costs and faster transactions than on the Ethereum mainnet.The announcement notes that Binance users can now deposit any ERC-20 token from the Ethereum network with Arbitrum at a reduced transaction cost. In....
Arbitrum, the largest Ethereum layer-2 scaling solution by total value locked (TVL), is taking steps towards decentralization. In an update on April 16, Offchain Labs–Arbitrum developers–said they have deployed the permissionless version of their fraud proofs, dubbed Bounded Liquidity Delay (BOLD), to testnet. Ethereum Layer-2s Are Popular, But There Is A Big Problem Ethereum layer-2 solutions have been gaining prominence over the years. According to L2Beat data on April 17, these platforms control over $37 billion of assets. Protocol developers and users can send transactions....