Arbitrum One has officially reached a total value locked of $10 billion, setting a fresh record.
In Brief
For the first time, Arbitrum One's TVL has soared to $10 billion, highlighting a significant 10.50% rise over the last week.
Arbitrum One This Ethereum Layer 2 network has reached a significant milestone, hitting a total value locked of $10 billion for the first time, which translates into a 10.50% growth during the last week. Currently, the total TVL across the Ethereum Layer 2 landscape stands at $20.82 billion, with Arbitrum One accounting for 48.03%, based on the latest data. L2Beat .
Arbitrum One Arbitrum operates as an Optimistic Rollup, designed to replicate the core Ethereum experience but with minimized transaction costs on Layer 1. Ethereum As a stage one optimistic rollup, it features a well-established proof system, accepts fraud proofs from at least five independent sources, allows users to exit without depending on approved operators, and maintains a Security Council, along with a seven-day exit window in case of unwanted upgrades driven by more centralized entities than the Security Council.
Created by Offchain Labs, Arbitrum is one of the leading solutions for scaling Ethereum, hosting roughly 470 applications on its platform. In March 2023, the Arbitrum ecosystem introduced the ARB token to serve as a governance mechanism.
Last month, Arbitrum One faced a temporary setback when its sequencer experienced a stall due to an unexpected spike in network traffic, which was communicated through an alert on the Arbitrum status page. The downtime was linked to certain inscriptions, as confirmed by the team; however, the system was back online after a brief two-hour interruption. Arbitrum One and Arbitrum Nova users.
The performance of Arbitrum One reflects its increasingly vital position in the cryptocurrency ecosystem, underscoring a growing public interest and engagement in cryptocurrency investments.
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In line with the Trust Project guidelines Alisa, a passionate journalist at Metaverse Post, focuses on cryptocurrency, zero-knowledge proofs, investments, and the expansive World of Web3. With her acute awareness of emerging trends and technologies, she provides in-depth coverage to keep readers informed and engaged in the dynamic sphere of digital finance.
