Author: Selik Varan
Selik Varan is a veteran storyteller and writer fascinated by blockchain technology, decentralization, and the tales of people who sparked innovations in the digital space. He has spent more than a decade creating content. He adds technical knowledge, insight and skillful writing to make sophisticated concepts in Web3 captivating and easy to understand.
Key Takeaways Introduction Ethereum has furthered the progress of decentralized finance, but with that success comes the problem of congestion and gas fees. This has given rise to Layer 2 solutions like Arbitrum which enhances scalability without sacrificing security. Arbitrum enables faster economic transactions and has thus become a cornerstone in the Layer 2 ecosystem, aiding Ethereum’s transformation into a fully scalable web3 system. What is Arbitrum? Arbitrum is a layer two solution created by Offchain Labs which aims to scale Ethereum through Optimistic Rollups. Simply put, it processes hundreds of transactions off-chain and posts a summary on Ethereum’s mainnet…