Arbitrum (ARB) - The cryptocurrency used to incentivize developers to create dApps on the Arbitrum network.
- It is the cryptocurrency used in the Arbitrum Blockchain network.
- It is used to incentivize all developers to build dApps from Arbitrum's own network, as they serve as rewards.
- It is currently launched as an ERC-20 token, so it can already be traded on various cryptocurrency exchanges.
Arbitrum (ARB) Key Metrics
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What is Arbitrum (ARB)?
Arbitrum (ARB) is a cryptocurrency used in the Arbitrum blockchain network, which is a layer 2 scalability solution for Ethereum. The Arbitrum network uses rollup technology to significantly increase the transaction processing capacity of the Ethereum blockchain.
The Arbitrum (ARB) network was created by the company Offchain Labs, which was founded in 2018 by a team of researchers from Princeton University and the University of Maryland. The company's goal was to create a layer 2 scalability solution for Ethereum that could process a large number of transactions without sacrificing the security and decentralization of the blockchain.
The beta version of the Arbitrum network was launched in May 2021 and in August 2021, the network was officially launched on the Ethereum mainnet. Since then, the Arbitrum network has gained widespread popularity due to its ability to process a large number of transactions efficiently and its compatibility with Ethereum applications and smart contracts.
The ARB cryptocurrency was created in parallel with the Arbitrum network and was initially launched on the Ethereum network as an ERC-20 token in May 2020. However, with the launch of the Arbitrum network, the ARB cryptocurrency was migrated to the blockchain itself as a native cryptocurrency.
Since its launch, the ARB cryptocurrency has experienced high demand and has significantly increased in value. Like any cryptocurrency, its value is subject to market fluctuations and can be affected by a variety of factors, including adoption of the Arbitrum network and market demand.
Arbitrum (ARB): What makes it different and why invest?
The ARB cryptocurrency is used as a gas to pay for transactions on the Arbitrum network and is also used to secure the network through the proof-of-stake (PoS) consensus mechanism. Users with ARB can participate in the transaction validation process and earn rewards in ARB for doing so.
In addition, ARB is also used as a way to incentivize developers to build decentralized applications (dapps) on the Arbitrum network and to support the growth and adoption of the platform.
The total supply of Arbitrum (ARB) is at 10 mi million tokens, remaining as follows: Arbitrum Treasury (42.78%), Internal Team (26.94%), Investors (17.53%) and the rest put up for sale on the various exchanges.
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