Ethereum Scaling Network Arbitrum – Major Update Tomorrow

Ethereum scaling network Arbitrum is set to have a major update tomorrow, on the 31^st of August 2022.

Arbitrum, an Ethereum layer-2 scaling solution, Arbitrum will undergo one of its most important upgrades, on Wednesday, which will enhance transaction throughput, reduce transaction costs, and simplify cross-chain communication between Arbitrum and Ethereum.

Arbitrum reconfirmed the timing of the “Nitro” update in a Twitter tweet on Aug. 29, indicating that the upgrade will take effect on Aug. 31 at 10:30 AM Eastern Time, with a two to four-hour network disruption period to be expected.

Reminder — Arbitrum One is upgrading to Nitro on Wednesday 8/31. 🚀

There will be 2-4 hours of planned network downtime, starting 10:30 AM ET / GMT-4. 📅

2️⃣ days until Nitro! 🥳

— Arbitrum (@arbitrum) August 29, 2022

Abritrum is a layer-2 scaling solution for Ethereum that uses Optimistic Rollup technology to off-chain package huge quantities of transactions from Ethereum smart contracts and decentralized apps before submitting them to Ethereum.

Nitro will be a “fully integrated, comprehensive layer 2 optimistic roll-up system” that builds on Arbitrum One with significantly enhanced fraud proofs, as well as modified sequencers, token bridges, and call data compression techniques, according to Offchain Labs’ GitHub account.

Offchain Labs is a blockchain-based startup founded in 2018 that develops a suite of Ethereum scaling solutions, the most noteworthy of which is the Arbitrum One network.

Arbitrum is going to flip Solana. Aribtrum nitro is days away. It's going to bring faster transactions, cheaper fees, and a better experience for builders.@arbitrum pic.twitter.com/95Edqn881u

— Nick Ford (@CryptoWithNick) August 23, 2022

Offchain Labs also released an upgrade to its ArbOS (Arbitrum Operating System) component, which is now implemented in the Go programming language. The updated version will enhance cross-chain communication between Ethereum and Arbitrum as well as transaction batching and data compression, lowering expenses on the Ethereum mainnet in the process.

The letter also said that the state of Arbitrum One “would be effortlessly moved” to Nitro, which, if implemented successfully, should rule out the chance of a chain split.

Offchain Labs stated in an April 2022 article that the Arbitrum Nitro update will be the “most sophisticated Ethereum scaling stack” and that “Nitro will dramatically enhance network capacity and minimize transaction costs,” adding:

“Today, we throttle Arbitrum’s capacity, but with Nitro we’ll be able to release those controls and significantly up our throughput. And while Arbitrum today is already 90–95% cheaper than Ethereum on average, Nitro cuts our costs even further.”

Ethereum scaling network Arbitrum has $936 million in total value locked (TVL) over 111 distinct protocols, according to decentralized finance (DeFi) aggregate DeFi Llama. The most well-known applications include GMX, Stargate, Curve, and Uniswap.

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