Why Arbitrum (ARB) Rises?
Arbitrum is a layer two (layer 2) scaling solution to separate transaction details and reduce high transaction fees in the Ethereum ecosystem. Although Ethereum is a popular platform for decentralized applications (dApps), the Ethereum main chain, the underlying blockchain of the network, frequently experiences congestion due to limiting transaction capacity. This congestion increases transaction confirmation times and increases transaction fees.
Arbitrum is designed to solve these problems. It functions as a chain or layer that operates in addition to the main chain, Ethereum. It alleviates transaction congestion occurring on the main chain because more transactions can be processed on the sidechain
There was an increase in value, with the ARB token traded at 28.14 TL, an increase of 11.93% in the last 24 hours. Blockworks Research’s launch of a division offering on Arbitrum, as well as its plan to establish an Arbitrum partnership led by Gauntlet and Trail of Bits, may have led to positive sentiment on the ARB token.
This partnership and division agreement appears to be aimed at helping Arbitrum DAO members develop their projects and structural transformation. Such developments make it difficult for cryptocurrencies and cryptocurrencies to attract the attention of others.