In a landscape of so-called scaling solutions primarily composed of sidechains and EMV-enabled competitors, a widely anticipated “rollup” layer 2 sidechain for Ethereum has finally arrived.
Offchain Labs announced the launch of Ebrittrum One with a blog post late last night. Arbitrum One is currently live on Ethereum in beta status, although teams that want to participate and implement the rollup technology will have to apply for access:
Introducing Arbitrum One, our mainnet beta: Live on Ethereum and now open to developers!https://t.co/3Jca2dZw0D
– Arbitrum (@arbitrum) May 29, 2021
The market has long been eager for a true Layer 2 scaling solution, and according to the team, demand for arbitrage outside the gate has been strong.
“Developer’s interest and enthusiasm for Arbitrum has exceeded our wildest expectations,” reads Announcement. “Over 250 teams have requested access to our developer launch, and we can’t wait to see what they build on the arbitrum and how much gas savings it will enable.”
There are development teams Eager for rollup scaling solutions of previous years. Arbitrum works by batching, or rolling up transactions on a gasless sidechain with a separate, more efficient security and consensus guarantee, then reporting batched transactions to the Ethereum chain.
Despite being popular, some critics have stated that the rollout of the rollup platform was poor and the team failed to incorporate some of the most important Defy protocols. Despite allegedly having significant communication with the Offchain Labs team, Curve Finance’s official account was taken to Twitter about not joining the group of projects with access at the time of launch and To be one of the most important money legos in the ecosystem:
We have been in talks with Arb for a long time and even tested on their testnet.
No one told about the form, so it was actually (although before launch) filled out a bit. But they definitely knew that we were very interested
– Curve Finance (@CurveFinance) May 29, 2021
The launch has also prompted some complex governance decisions. A proposal on Uniswap’s governance forums to explore an arbitrage implementation, despite previously being committed to using optimism as a layer 2 has proven to be extremely popular.
The Arbitrum team promised that a glimpse of key names would emerge during the upcoming marketing push, though:
“We’ve started to make a series of announcements with Arbitrum ecosystem partners, and stay tuned for more in the coming days. It’s an exciting period ahead, and we’re working hard to ensure that When we open Arbitrum One for all users, all your favorite apps and infrastructure will be live and ready. ”