Arbitrum, developed by the American company Offchain Labs, is a Layer 2 (L2) solution for the Ethereum network designed to enhance its speed and scalability. Leveraging the concept of Optimistic Rollups, Arbitrum enables developers to deploy Ethereum smart contracts and decentralized applications effortlessly, without requiring any modifications. This results in lower transaction fees and increased throughput.
In the first half of 2022, Arbitrum emerged as the leading L2 solution for Ethereum, measured by the number of transactions, the number of applications, and the total value locked (TVL). As of November 2021, Arbitrum boasts over 350 projects and has processed over 50 million transactions.
