Technology

Ethereum Layer 2 Arbitrum Launches Nova Chain, Hyperlinks With Reddit

Key Takeaways

  • Arbitrum has launched a second Ethereum Layer 2 chain referred to as Arbitrum Nova.
  • Arbitrum developer Offchain Labs has mentioned that the brand new chain is optimized for low-cost and high-transaction quantity use instances like gaming and social initiatives.
  • The developer has additionally partnered with Reddit to onboard its neighborhood factors system to Ethereum.

The brand new chain, Arbitrum Nova, is optimized for cost-sensitive and excessive transaction quantity use instances like on-chain gaming and social initiatives.

Arbitrum Nova Goes Reside

Arbitrum has launched a brand new gaming-optimized blockchain and partnered with Reddit to assist it transfer its neighborhood factors system to Ethereum.

The Layer 2 venture’s developer Offchain Labs introduced the updates in a Tuesday press launch. Arbitrum Nova, as the brand new community is thought, is now reside for all end-users following a non-public July launch for builders. Whereas Offchain Labs’ first chain, Arbitrum One, is designed for extra frequent DeFi use instances, Abitrum Nova is optimized for cost-sensitive and excessive transaction quantity situations. Per the press launch, Arbitrum Nova is designed to turn out to be “the premier answer for Web3 gaming and social purposes.” 

In line with a July weblog submit from Offchain Labs, Arbitrum Nova is a wholly new chain, utterly completely different from Arbitrum One. It’s constructed on prime of the agency’s proprietary AnyTrust expertise and leverages a “knowledge availability committee” to certify and validate transaction batches earlier than broadcasting them on Ethereum mainnet. “Relatively than posting all knowledge to the Ethereum community, the committee certifies and validates batches of transactions and solely posts the certifications to Ethereum, leading to important price financial savings for customers,” Offchain Labs defined in at this time’s announcement. The agency claims that its AnyTrust expertise delivers a lot stronger safety ensures than different excessive throughput or low-cost blockchains.

Commenting on the launch, Offchain Labs co-founder and CEO Steven Goldfeder mentioned that the brand new chain marked a “main milestone” of the Arbitrum ecosystem and that its ultra-low-cost transaction charges would open fully new prospects for builders. “We sit up for frequently optimizing and enhancing Nova to drive prices down even additional,” he added.

Complementing the launch, Offchain Labs additionally introduced at this time that it had partnered with the world’s largest on-line discussion board, Reddit, to maneuver its neighborhood factors system to Ethereum. The initiative marks the primary main deployment on the Arbitrum Nova chain.

Arbitrum is one among a number of Layer 2 initiatives working to scale Ethereum. It leverages Optimistic Rollup expertise to extend throughput and course of transactions off the bottom chain. Arbitrum One launched final 12 months and is at the moment the ecosystem’s main Layer 2 community. In line with L2Beat knowledge, it holds about $2.72 billion in worth locked.

Disclosure: On the time of writing, the writer of this text owned ETH and a number of other different cryptocurrencies.

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