What is the Arbitrum Network and why do we need it?
Currently, the most popular network for launching decentralized applications (dApps) is Ethereum. The downside of Ethereum’s success was a huge increase in the gas cost on the network and its general overload. While developers from the Ethereum community are working on Ethereum 2.0, alternative teams are developing their projects, known as layer 2 solutions. One of these projects is the Arbitrum blockchain.
What is Arbitrum?
Arbitrum is an Ethereum layer 2 (L2) scaling solution, and one of the first Optimistic Rollup solutions that seeks to relieve congestion on the Ethereum mainnet. Arbitrum makes transactions on Ethereum cheaper by performing operations off-chain, and posting the results to the mainnet to secure proof. This layer 2 solution was designed to improve the capabilities of Ethereum smart contracts — boosting their speed and scalability, while also adding additional privacy features. Currently, Arbitrum does $95 Million in daily trading volume with an average of 35,000 transactions per day.
Which projects use Arbitrum?
Immediately after the launch of the main network and due to high compatibility, many well-known projects such as the popular decentralized exchange Uniswap, supported it and launched the possibility of its interaction with their applications. Now, Arbitrum is supported by such platforms as:
- Aave;
- Balancer,
- Band Protocol;
- Curve finance;
- SushiSwap;
- Uniswap;
- Rubic.
Such an impressive list of projects means faith in the developers and the solution.
How is Rubic using Arbitrum?
Rubic is one of the most innovative projects in the industry, even more so now that they’ve integrated Arbitrum. Rubic is the Multi-Chain Protocol that offers one of the most convenient and beneficial ways to buy and sell assets that are built on different blockchains. Rubic’s Multi-Chain Routing Protocol unites more than 15,000 assets and 9 blockchains for Multi-Chain trading, including Ethereum, Binance Smart Chain, Polygon, Avalanche, Moonriver, Fantom, Harmony, Solana, and Arbitrum.
Recently, the Rubic team has completed On-Chain and Multi-Chain integrations of the Arbitrum blockchain. For the integration of the Arbitrum Network, the Rubic Development Team completed the connection of 3 main DEXs on the Arbitrum network: Uniswap v3, 1inch, and SushiSwap. All three of these DEXs are now available to use for both On-Chain and Multi-Chain swaps. The integration of these DEXs will enable users to not only find the best rates during On-Chain swaps, but will also allow Rubic’s Smart Routing to find the best route and price for your Multi-Chain swaps. As a result of these integrations, Rubic’s Multi-Chain Protocol offers a simple and reliable trading solution for Arbitrum Network users as well as users from other networks.
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