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Blockchain

Arbitrum Has Higher Transaction Costs Than Ethereum Fees

July 3, 2022 - Around 2 mins mins to read
Transaction costs on Arbitrum exceeded those on the Ethereum Mainnet earlier this week. With token swap costs rising above $6 on Arbitrum this Wednesday, the Ethereum network has become a bargain compared to just $5.36.
Arbitrum Has Higher Transaction Costs Than Ethereum Fees

Just weeks after launch, Arbitrum made the decision to halt the Odyssey program, blaming the initiative for increasing transaction costs across the network. Odyssey is intended to be a two-month program that encourages users to experience multiple projects in the ecosystem. In return, users will receive a non-fungible token (NFT) reward featuring artwork by Ratwell and Sugoi.

One user asked about this issue:

In fact, the success of the Odyssey quickly caused Arbitrum to fail. Arbitrum was forced to cancel its two-month journey not long after its launch. Now the developers say Odyssey won’t continue until after the launch of Nitro, an upgrade designed to massively increase transaction throughput.

The launch of Odyssey pushed the solution to scale beyond its operational limits. The number of daily transactions on-chain more than tripled from 97,129 at the beginning of June to 287,019 as of June 27. It is a little surprising that the network is feeling the strain.

While the exact launch date of Nitro is still a mystery, predictions about its launch are growing. Now, users who have been participating in Odyssey for a short time have one more reason to wait for its launch.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Arbitrum

ETH

Nitro

Odyssey

Ratwell

Sugoi

Transaction Cost

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Blockchain

Arbitrum Has Higher Transaction Costs Than Ethereum Fees

Transaction costs on Arbitrum exceeded those on the Ethereum Mainnet earlier this week. With token swap costs rising above $6 on Arbitrum this Wednesday, the Ethereum network has become a bargain compared to just $5.36.
Arbitrum Has Higher Transaction Costs Than Ethereum Fees

Just weeks after launch, Arbitrum made the decision to halt the Odyssey program, blaming the initiative for increasing transaction costs across the network. Odyssey is intended to be a two-month program that encourages users to experience multiple projects in the ecosystem. In return, users will receive a non-fungible token (NFT) reward featuring artwork by Ratwell and Sugoi.

One user asked about this issue:

In fact, the success of the Odyssey quickly caused Arbitrum to fail. Arbitrum was forced to cancel its two-month journey not long after its launch. Now the developers say Odyssey won’t continue until after the launch of Nitro, an upgrade designed to massively increase transaction throughput.

The launch of Odyssey pushed the solution to scale beyond its operational limits. The number of daily transactions on-chain more than tripled from 97,129 at the beginning of June to 287,019 as of June 27. It is a little surprising that the network is feeling the strain.

While the exact launch date of Nitro is still a mystery, predictions about its launch are growing. Now, users who have been participating in Odyssey for a short time have one more reason to wait for its launch.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News