Arbitrum, a new solution in the Ethereum layer 2 scaling space, is gaining attention for its ability to support smart contracts without the usual scalability and privacy limitations. This new technology offers users reduced transaction fees and less congestion than the
Ethereum network.
With the help of Arbitrum, developers can create smart contracts that specify the behavior of a virtual machine (VM) to perform the intended functionality of the contract.
In particular, Arbitrum offers significant improvements in terms of scalability and privacy that can be exploited by developers looking for more efficient and secure ways to create smart contracts. As this new technology continues to evolve, it will be fascinating to see how it affects the overall landscape of the Ethereum network and the broader blockchain sector
.
Arbitrum has created quite a buzz in the world of blockchain technology. This optimistic rollup-based solution is changing the game for smart contracts, especially those that use Ethereum. By allowing messages to be sent between smart contracts and those in the second level of Arbitrum’s chain, this technology can easily scale smart contracts, freeing them from scalability and privacy limitations
.
Arbitrum operates by processing most transactions at level 2 and then recording the results in the main chain. This approach has resulted in a significant increase in the speed and efficiency of the platform. Validators and complete nodes are involved in observing the state of the chain and combining level 1 transactions. Prizes are paid in ETH to aggregators that send transactions to the level 1 chain
.
Arbitrum’s unique features include the AnyTrust channel and the sidechain, which will be available in future versions. In addition, the platform ensures that all validators play fairly through its demanding block rollup phase. Validators are expected to confirm that the blocks are correct and, if there are problems, they can issue a ‘challenge’
.
The Arbitrum virtual machine (AVM) is the platform’s custom virtual machine that serves as an execution area for Arbitrum smart contracts. It is located on top of EthBridge, a collection of smart contracts that interacts with the Arbitrum chain. The AVM is compatible with Ethereum smart contracts, simplifying translation and execution on the Arbitrum platform. With these characteristics, Arbitrum has positioned itself as an innovative and efficient solution for developers who want to create smart contracts that can scale without any limitations
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What is the main benefit of Arbitrum (ARB)?
Arbitrum is a technology that allows developers to build on Ethereum smart contracts without having to learn a new programming language. This feature is due to its compatibility with Ethereum’s Virtual Machine (EVM), which makes the transition much smoother for developers.
In addition, Arbitrum significantly reduces transaction costs, making it a practical solution for those looking to save money. Despite the cost savings, validators are still compensated with sufficient incentives
for their contributions.
The development team provided comprehensive documentation and tools to help developers start using the platform. There is no need to download any specific software or plugin, as everything is already available on Ethereum.
Arbitrum has also collaborated with important Ethereum-based projects such as Uniswap, DODO and Sushiswap, creating a strong ecosystem for both developers and users. The efficiency, compatibility, and partnerships of this technology make it a powerful solution for anyone looking to build on the Ethereum blockchain.
Current status of the Arbitrum (ARB) market
According to CoinMarketCap, as of April 19, 2023, the price of Arbitrum stood at $1.55, showing a decrease of 13.3% in the last 24 hours. However, the 24-hour low and high for Arbitrum are $1.53 and $1.77, respectively, indicating a
volatile market.
Despite the slight decrease in price, the trading volume for Arbitrum is increasing, totaling $1.6 billion in the last 24 hours. Currently ranked as the 33rd largest cryptocurrency by market capitalization, with a market dominance of 0.16%, Arbitrum has a market capitalization of $1.9 billion, with a fully diluted market capitalization of $15.4 billion. It will be interesting to see how Arbitrum performs in the coming days as its popularity and market reach continue to grow
.
Arbitrum (ARB) Price Prediction 2023
According to the chart above, we can observe ARB’s support and resistance zones for the next few days. If the ARB can rise higher and break resistance level 2, we can expect the price of the ARB to rise to 2.35, which is at
resistance level 3.
However, another possible scenario is that if the ARB breaks the current 200-day moving average and falls lower, the ARB can download up to $1.2, which is support level 3.
Conclusion
As mentioned above, the price of Arbitrum could even exceed $10 if investors have decided that crypto is a good investment, along with traditional cryptocurrencies.
What is Arbitrum (ARB)?
Arbitrum, a new solution in the Ethereum layer 2 scaling space, is gaining attention for its ability to support smart contracts without the usual scalability and privacy limitations. This new technology offers users reduced transaction fees and less congestion than the
Ethereum network.
How to buy Arbitrum (ARB) Token?
Like other cryptocurrencies, Arbitrum (ARB) can be traded on cryptocurrency exchanges such as Binance, Huobi Global, Kucoin, Gate.io, and others.
Will Arbitrum Token exceed its current ATH?
The Arbitrum token has a high chance of exceeding its current historical maximum price (ATH) of $11.80 in 2026.
When was Arbitrum DAO launched?
It was launched on March 23, 2023.
What will be the Arbitrum (ARB) price prediction for 2023?
The price of Arbitrum (ARB) is expected to reach $4 by 2023.
What will be the Arbitrum (ARB) price prediction for 2024?
The price of Arbitrum (ARB) is expected to reach $6 by 2024.
What will the Arbitrum (ARB) price prediction be for 2025?
The price of Arbitrum (ARB) is expected to reach $10 by 2025.
What will be the Arbitrum (ARB) price prediction for 2026?
The price of Arbitrum (ARB) is expected to reach $13 by 2026.
What will Arbitrum (ARB)’s price forecasts be for 2027?
The price of Arbitrum (ARB) is expected to reach $17 by 2027.
What will be the Arbitrum (ARB) price prediction for 2028?
The price of Arbitrum (ARB) is expected to reach $20 by 2028.
What will be the Arbitrum (ARB) price prediction for 2029?
The price of Arbitrum (ARB) is expected to reach $30 by 2029.
What will the Arbitrum (ARB) price prediction be for 2030?
The price of Arbitrum (ARB) is expected to reach $45 by 2030.
What will Arbitrum (ARB)’s price prediction be for 2040?
The price of Arbitrum (ARB) is expected to reach $110 by 2040.
What will the Arbitrum (ARB) price prediction be for 2050?
The price of Arbitrum (ARB) is expected to reach $250 by 2050.
