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"Arbitrum is an L2 scaling solution built for Ethereum which utilizes optimistic rollups (OR) that leverage off-chain computation with on-chain data. Arbitrum went live on August 31, 2021 and over the past week it has seen tremendous growth hitting a total value locked (TVL) of $1.67B (as of 9/12/21). Arbitrum is the largest and fastest growing L2 solution today - with many liquidity mining rewards for early adopters.
Current chain ranking by TVL (descending order):
Ethereum (L1)
Binance (L1)
Solana (L1)
Terra (L1)
Polygon (L1)
Avalanche (L1)
Arbitrum (L2)
So why does this matter? Arbitrum is one the main mechanisms that is supposed to help Ethereum scale by allowing more transactions per block at a faster processing rate, and most importantly, with lower transaction costs. If you have tried to do anything over the past few NFT craze weeks, you may have encountered $1K transaction fees for NFT minting. With PoS in ETH 2.0 and L2 mechanisms like Arbitrum - hopefully we can use the network in a more pragmatic way."
-Harsharn Singh, Investment Associate @ Ember Fund
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