Between so many scaling solutions that are mostly made out of sidechains and EMV-enabled competitors, the highly anticipated “rollup” layer 2 sidechain for Ethereum is finally here.
Offchain Labs confirmed the release of Abritrum One in a blog post. Arbitrum One is now live on Ethereum, albeit in a beta state. Teams who wish to take part and create implementations with the rollup tech have to apply for access first.
The announcement reads: “The developer interest and enthusiasm for Arbitrum has exceeded our wildest expectations. Over 250 teams have requested access for our developer launch, and we can’t wait to see what they build on Arbitrum and how much gas savings this will enable.”
Development teams have been waiting for rollup scaling solutions for many years.
Arbitrum functions by rolling up transactions on a gasless sidechain using a separate, more efficient set of security and consensus guarantees, after which, the batched transactions are reported to the Ethereum chain.
Despite its popularity, some were quick to point out that the rollup platform was sloppy and that some of the major DeFi protocols weren’t included – even Curve Finance took to Twitter to criticize the decision of not including them.
The Arbitrum team responded to these comments by saying:
“We’ve begun doing a series of announcements with Arbitrum ecosystem partners and stay tuned for many more in the coming days. It’s an exciting period ahead, and we’re working hard to make sure that all of your favorite apps and infrastructure will be live and ready when we open Arbitrum One to all users.”
Source: CoinTelegraph.com