The multitude of use-cases of blockchain technology including DeFi has accelerated the development and growth of Ethereum blockchain and in recent years we have seen multiple layer two solutions spring up in a bid to scale the usability of the ETH network.
While the growth of all these networks has been spectacular, we have taken several careful considerations for choosing the Arbitrum One Chain as the blockchain network for the development of Arbitpad.
In this article, we list down the reasons taken into consideration for choosing Arbitrum Network for Arbitpad Launchpad.
Arbitrum Overview Arbitrum is a layer-2 optimistic rollup blockchain that helps to scale the main Ethereum chain while remaining trustlessly secure.
While it is based on Ethereum’s Virtual Machine (EVM), Arbitrum offers a unique design that makes it much more scalable and user-friendly than the Ethereum network.
In addition, Arbitrum smart contracts are EVM-compatible meaning they work with existing Ethereum tooling, wallets, and dapps.
Arbitrum was created as one of the Ethereum scaling solutions available to create low cost smart contracts and to address long transaction times.
The Arbitrum Virtual Machine, which runs on ArbOS, helps act as a record-keeper, traffic cop, and enforcer for the execution of smart contracts on the Arbitrum chain.
Benefits of Arbitrum Network
High EVM Compatibility: Arbitrum is a Layer 2 scaling solution that provides high Ethereum Virtual Machine (EVM) compatibility.
This means that developers can deploy their existing Ethereum smart contracts to Arbitrum’s Layer 2 network. It allows for significantly higher transaction work rates, lower transaction costs, and faster finality.
The fact that Arbitrum is based on Ethereum makes it easier for developers to interact with Arbitrum by allowing them to use their current tools and development processes.
The project can be compatible with EVM at the bytecode level, and any language, such as Solidity and Vyper, can be compiled into EVM. That way, it makes developing much easier, as developers don’t need to master a new language before building on Arbitrum.
In other words, it provides developers with an environment to test and debug their applications without having to deploy them to the mainnet. This helps developers ensure their code is secure and bug-free before they deploy it.
Scalability: As already talked about this in the introduction, Arbitrum is a layer-2 blockchain solution that allows users to perform transactions at a much lower cost than is possible on a regular blockchain like Ethereum.
This is because Arbitrum uses an Optimistic Rollup mechanism. It allows multiple transactions to bundle together and process in a single block, reducing the cost of each individual transaction.
Additionally, it uses an advanced transaction fee structure that dynamically adjusts the fees based on demand, resulting in a lower cost for users.
This makes it an attractive platform for developers to build decentralized applications that need to handle high volumes of transactions. With the Arbitrum Rollup solution, users can perform operations in a fast and efficient manner. The Arbitrum solution provides for a high number of transactions per second, making it the ideal solution for mass-adoption of dApps.
Interoperability: Arbitrum’s design is interoperable with other blockchains. It can interact with and transact with other blockchain networks in a seamless manner. This could make it a key player in the growing ecosystem of decentralized technologies and provide additional opportunities for growth and expansion.
The Arbitrum ecosystem has a broad range of developers, projects and communities that are already building on the platform.
The interoperability of Arbitrum makes it an ideal platform for launching IDOs, and its integration with Ethereum allows for projects to launch on the Ethereum network with the option of migrating to the Arbitrum network.
Strong Security Guarantees: Arbitrum uses a combination of cryptographic techniques and games theoretic incentives to provide strong security guarantees for its users. With a secure and decentralized consensus system that protects the network’s integrity, the platform is built to be very resistant to attacks.
For mission-critical, decentralized applications requiring a high level of security, this makes it an appealing platform.
Increased Privacy: Arbitrum uses zero-knowledge proofs, a cryptographic technique that allows for secure and private off-chain transactions. This enhances the privacy of the network and allows for the development of secure and private off-chain transactions.
Decentralized and Trustless: Arbitrum is a decentralized and trustless network that provides users with a high degree of security and transparency.
The network operates without the need for a central authority or intermediary, which reduces the risks of censorship, corruption, or fraud.
This makes it an attractive platform for building decentralized applications that require a high level of trust and transparency.
User-Friendly: Arbitrum is designed to be user-friendly, providing an intuitive and simple user interface that makes it easy for users to interact with the network. This means that even non-technical users can easily access and use the network to transact or deploy smart contracts.
Overall, Arbitrum’s unique design and features make it an ideal choice for the development of the Arbitpad launchpad. With its high EVM compatibility, scalability, interoperability, strong security guarantees, privacy features, decentralization, user-friendliness, and community support, Arbitrum provides a solid foundation for building a decentralized, multi-asset launchpad that can help drive the growth and adoption of DeFi applications on the blockchain.
By building our launchpad on Arbitrum, we aim to provide users with a reliable and efficient platform to participate in decentralized crowdfunding. We believe that Arbitpad will become a key player in the ecosystem of decentralized technologies and help drive the adoption of blockchain-based solutions for various use cases.
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