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Blockchain

Arbitrum Nova Layer-2 Is Launched To Focus On Games And Social Apps

August 11, 2022 - Around 2 mins mins to read
Ethereum Scaling Solution Arbitrum has launched its own Arbitrum Nova layer-2 chain. This Chain was used for Reddit’s Community Points systems.
Arbitrum Nova Layer-2 Is Launched To Focus On Games And Social Apps

This is a new chain mainly for games and social applications, and was first announced earlier this year and is the first to be built using Arbitrum’s AnyTrust technology.

This chain is for high transaction volume projects looking for low-cost and high-security solutions. Arbitrum has said that it has given access to more than 100 development teams and uses the Data Availability Committee, whose initial members include ConsenSys, FTX, Google Cloud, Offchain Labs, P2P, Quicknode, and Reddit.

One of the chain’s successes is the implementation of Reddit’s Community Points system on Nova. While there are currently only two communities, that number could grow. The focus now is on incentivizing development, building the ecosystem, and then the user base.

Developers were able to start building on Nova and several projects are already live on the chain including SushiSwap.

Arbitrum Nova Layer-2 Is Launched To Focus On Games And Social Apps

Nova differs from One in that the Data Availability Committee receives the transaction data first, and the data will only happen on-chain if the committee does not approve it. It makes the assumption that at least two committee members are honest.

Arbitrum has several tentative plans for the coming weeks, among which, it will move One to Nitro on August 31 and has already moved Rinkeby to Nitro.

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

Arbitrum One

Community Points

Data Availability Committee

FTX

Nova

Reddit

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 Nova Layer-2 Is Launched To Focus On Games And Social Apps

Ethereum Scaling Solution Arbitrum has launched its own Arbitrum Nova layer-2 chain. This Chain was used for Reddit’s Community Points systems.
Arbitrum Nova Layer-2 Is Launched To Focus On Games And Social Apps

This is a new chain mainly for games and social applications, and was first announced earlier this year and is the first to be built using Arbitrum’s AnyTrust technology.

This chain is for high transaction volume projects looking for low-cost and high-security solutions. Arbitrum has said that it has given access to more than 100 development teams and uses the Data Availability Committee, whose initial members include ConsenSys, FTX, Google Cloud, Offchain Labs, P2P, Quicknode, and Reddit.

One of the chain’s successes is the implementation of Reddit’s Community Points system on Nova. While there are currently only two communities, that number could grow. The focus now is on incentivizing development, building the ecosystem, and then the user base.

Developers were able to start building on Nova and several projects are already live on the chain including SushiSwap.

Arbitrum Nova Layer-2 Is Launched To Focus On Games And Social Apps

Nova differs from One in that the Data Availability Committee receives the transaction data first, and the data will only happen on-chain if the committee does not approve it. It makes the assumption that at least two committee members are honest.

Arbitrum has several tentative plans for the coming weeks, among which, it will move One to Nitro on August 31 and has already moved Rinkeby to Nitro.

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