Monday, December 5, 2022
 

Ethereum’s Scaling Network Arbitrum Gets Ready For a Major Update

  • Ethereum’s scaling network, Arbitrum sets itself ready to undergo one of its major updates.
  • Arbitrum reconfirmed this with a Twitter update.
  • Arbitrum Nitro will bring lower gas fees, faster transaction speeds, and a better user experience for developers.

Ethereum’s scaling network, Arbitrum, sets itself ready to undergo one of its major updates on August 31.

According to a Twitter post shared by Arbitrum, the Ethereum network reconfirmed the release date of the update and mentioned that a two-to-four-hour network downtime period is to be expected on Wednesday due to the update.

Based on the whitepaper published by Offchain Labs, the company behind Arbitrum, states, “We present Arbitrum Nitro, a second-generation Layer 2 blockchain protocol. Nitro provides higher throughput, faster finality, and more efficient dispute resolution than previous rollups.”

Additionally, the GitHub account of Offchain Labs mentioned,

It is a fully integrated complete layer two optimistic roll-up systems, including fraud proofs, the sequencer, the token bridges, advanced call data compression, and more.

Arbitrum calls its new update Nitro. The nitro update brings faster transaction speed, lower fees, and a better user experience for building applications.

According to DeFi Llama, a tracker for decentralized finance (DeFi) cryptocurrencies, shows that Arbitrum is in the top ten leaderboards of all chains.

Recently, Arbitrum abruptly paused its Odyssey upgrade and decided to resume it once Nitro is released on June 29.

The company explained, “Because of the heavy load being put on the chain, causing higher than normal gas fees, we have decided it is best to pause the Odyssey until Nitro is released so that all communities and projects within Arbitrum continue to have friction-free experience.”

  • Ethereum’s scaling network, Arbitrum sets itself ready to undergo one of its major updates.
  • Arbitrum reconfirmed this with a Twitter update.
  • Arbitrum Nitro will bring lower gas fees, faster transaction speeds, and a better user experience for developers.

Ethereum’s scaling network, Arbitrum, sets itself ready to undergo one of its major updates on August 31.

According to a Twitter post shared by Arbitrum, the Ethereum network reconfirmed the release date of the update and mentioned that a two-to-four-hour network downtime period is to be expected on Wednesday due to the update.

Based on the whitepaper published by Offchain Labs, the company behind Arbitrum, states, “We present Arbitrum Nitro, a second-generation Layer 2 blockchain protocol. Nitro provides higher throughput, faster finality, and more efficient dispute resolution than previous rollups.”

Additionally, the GitHub account of Offchain Labs mentioned,

It is a fully integrated complete layer two optimistic roll-up systems, including fraud proofs, the sequencer, the token bridges, advanced call data compression, and more.

Arbitrum calls its new update Nitro. The nitro update brings faster transaction speed, lower fees, and a better user experience for building applications.

According to DeFi Llama, a tracker for decentralized finance (DeFi) cryptocurrencies, shows that Arbitrum is in the top ten leaderboards of all chains.

Recently, Arbitrum abruptly paused its Odyssey upgrade and decided to resume it once Nitro is released on June 29.

The company explained, “Because of the heavy load being put on the chain, causing higher than normal gas fees, we have decided it is best to pause the Odyssey until Nitro is released so that all communities and projects within Arbitrum continue to have friction-free experience.”

 

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