Get Started on Arbitrum
Offchain Labs is the creator of Arbitrum, a layer-2 solution for Ethereum, launched on August 31, 2021.
This technology allows for off-chain transactions to be bundled and submitted as a single transaction to the Ethereum base layer, improving scalability and reducing transaction requests on layer-1.
Arbitrum uses an Optimistic Rollup solution, which combines smart contracts to reduce computation time and gas consumption. In August 2022, Arbitrum upgraded its network from Arbitrum One to Arbitrum Nitro, which removed transaction throttling and increased the network's capacity to handle more transactions.
The upgrade also resulted in lower fees, with a 25% reduction compared to the original version. Adding support for Arbitrum to your wallet and using a bridge that offers transfer support or sending funds from a centralized exchange is the onboarding process for using the network.
Please note that all transaction fees on Arbitrum are conducted in ETH