Arbitrum’s adoption and compatibility

$94,601.00
-0.04%$1,796.21
-0.09%$2.21
-2.54%$599.35
-0.20%$146.83
-0.13%$0.999973
0.00%$0.172998
-1.34%$0.685561
-1.75%$0.246511
0.80%$1,794.22
-0.14%$94,593.00
0.20%$3.47
-1.48%$14.34
-2.07%$21.12
-2.03%$0.272552
-1.90%$9.06
0.67%$3.19
-0.05%$0.00001332
-0.71%$0.183208
-2.05%$0.999978
0.00%$2,158.46
0.26%$366.37
-0.29%$84.04
-1.54%$19.01
2.48%$4.12
-1.18%$1.00
0.15%$1,796.76
0.22%$276.32
0.07%$4.34
-0.84%$1.00
0.11%$0.615046
5.00%$28.95
-0.33%$1,915.63
0.21%$94,582.00
-0.08%$0.00000894
0.62%$5.37
-2.48%$5.33
1.27%$354.03
-3.57%$51.18
-1.58%$2.47
-2.29%$1.05
0.03%$0.915243
-3.04%$1.00
0.00%$21.95
-0.43%$4.93
0.76%$12.89
-1.28%$16.64
-0.99%$31.31
0.41%$165.39
-0.35%$0.738161
1.01%$0.087751
-2.69%$0.089483
0.26%$4.45
-0.88%$0.02649861
-1.87%$1.00
0.00%$1.17
0.01%$0.237367
0.46%$4.32
-1.96%$94,254.00
0.12%$0.730994
4.54%$0.221539
-3.66%$2.79
1.54%$4.29
-0.05%$0.315615
0.90%$2.70
-1.86%$0.497087
-3.12%$0.327912
-0.62%$4.09
0.05%$1.14
3.16%$0.00001926
-3.23%$0.99884
-0.05%$94,467.00
0.05%$10.80
1.70%$0.462576
0.79%$0.814869
-1.99%$1,472.00
-3.30%$0.733732
-3.94%$0.077455
-1.14%$1.21
-0.50%$153.76
0.04%$1.18
6.84%$0.01785803
-0.96%$75.32
0.58%$1,796.71
-0.06%$0.212502
0.82%$3.98
-2.39%$0.999802
0.11%$0.683553
-0.60%$1,869.08
-0.27%$0.564098
-2.57%$0.712918
9.32%$9.67
-0.04%$0.095922
-1.89%$1.39
0.62%$1.00
0.11%$0.999774
0.03%$599.78
-0.06%$0.00009023
8.36%$2,035.70
0.06%$3,294.35
-0.69%$2.79
-2.13%$0.01655335
1.78%$1.00
-0.00%$0.787106
-1.09%$3,296.12
-0.72%$0.20801
1.32%$38.40
-2.05%$0.843257
1.74%$13.24
1.95%$94,542.00
0.10%$0.01697927
0.79%$0.748816
-1.58%$162.28
0.13%$95,727.00
1.97%$0.2973
0.14%$189.26
0.33%$3.85
-2.63%$0.00000071
0.03%$0.01088917
-2.38%$0.545455
-5.55%$1,913.55
0.16%$0.114489
-2.27%$2.05
0.32%$0.998182
0.06%$3.05
-4.61%$0.402652
-0.37%$0.998537
-0.03%$0.62387
2.86%$18.72
2.51%$0.01804208
-2.33%$0.242144
0.61%$0.060982
-2.42%$0.317785
1.55%$1.092
-1.59%$1.81
0.33%$36.08
6.00%$1,877.98
0.11%$0.550435
-0.97%$3.39
3.09%$0.148362
-3.11%$0.549575
-2.26%$0.00898042
-1.25%$0.998554
-0.04%$0.645669
-0.78%$0.614844
-1.30%$0.068928
2.00%$0.417668
0.60%$95,658.00
0.28%$17.19
1.87%$94,513.00
-0.08%$0.999902
-0.06%$1,876.96
0.02%$0.190931
-4.66%$0.00517793
-1.52%$0.435881
-0.29%$1.34
-1.28%$0.999902
-0.01%$0.488559
-1.00%$91,199.00
6.98%$6.82
-0.66%$0.17316
-1.08%$0.00002226
1.01%$94,220.00
-0.09%$6.08
-1.06%$1.56
-4.27%$0.147472
0.45%$0.53205
-0.01%$94,025.00
-0.21%$1,798.46
0.21%$110.88
0.01%$0.00000042
-0.99%$0.23778
0.69%$0.079763
-1.81%$1.085
0.00%$0.999884
-0.12%$2.50
-1.56%$0.086845
-0.68%$0.04137418
0.25%$1,797.18
0.27%$1.56
19.13%$1,913.52
-0.09%$0.192327
5.94%$3.51
-4.99%$0.00730213
3.49%$0.386988
5.28%$0.03721017
-1.59%$1,795.22
-0.01%$40.97
0.07%$1.002
0.16%$0.377542
-2.58%$0.557047
0.37%$21.50
-0.22%$0.0041332
0.11%$31.52
-0.17%$0.131439
0.91%$1,794.41
-0.18%$0.017814
0.94%$0.798504
-0.08%$1.00
0.00%$1,840.22
-0.73%$0.00006031
-0.58%$0.999531
0.13%$1.00
0.05%$0.999243
-0.06%$1.20
-1.62%$0.696223
-2.24%$0.69124
-2.16%$0.00451195
-4.20%$2.80
-4.35%$0.727109
-1.67%$94,484.00
0.02%$0.510034
-10.22%$0.00000144
4.80%$0.140019
-0.09%$111.89
-0.98%$0.263128
-10.20%$0.235033
-2.02%$0.207926
0.76%$1,781.91
0.09%$23.47
1.96%$19.00
2.63%$3.51
-5.26%$0.999476
-0.03%$0.998307
-0.10%$3,290.18
0.27%$94,420.00
0.53%$0.0027427
-4.11%$0.270264
-1.06%$0.00263032
1.77%$0.03138308
4.07%$1,898.66
0.09%$0.529193
0.25%$2.80
-1.27%$0.03774586
-2.45%$0.00344185
-0.19%$0.0028652
-0.15%$1,899.18
-0.12%$15.34
-4.41%$0.250757
-3.17%$0.107302
-1.41%$0.01274986
-0.76%$1.097
0.07%$0.107115
19.71%$21.11
-2.24%$0.717398
0.93%$0.922539
-1.50%$2.94
6.61%$1,971.68
0.11%Reading
Steven Goldfeder, co-founder and CEO of Arbitrum developer Offchain Labs, tells Decrypt's Liam Kelly in our Decrypting Mainnet series at Mainnet 2022 how Arbitrum is handling its recent bug, how he thinks about competitors to Arbitrum, and how to convince DeFi users that bridging funds is safe even when there are so many hacks and security failures in the DeFi space. He also teases the "full vision" for Arbitrum since it's still in beta.
The race to make Ethereum faster is heating up.
With Polygon rolling out new zero-knowledge technologies, StarkWare announcing a token airdrop, and NFT marketplace OpenSea integrating Optimism, there are plenty of contenders to scale the top crypto network for DeFi and NFTs.
“Ultimately, it's a large space, and it's a large pie,” CEO and co-founder of the layer-2 network Arbitrum Stephen Goldfeder told Decrypt at Mainnet. “There are a lot of different opportunities for different teams to experiment, basically, with different scaling technologies and different trade-offs.”
Arbitrum is one of many so-called rollup solutions which effectively move Ethereum operations off-chain to reduce congestion on the network’s mainnet. Once the activity is concluded, it's then compressed into a single transaction on the blockchain.
Of these trade-offs, though, Goldfeder says there are three “critical” points that teams need to consider: Scalability, security, and compatibility. These scaling solutions need to be fast, reliable, and interoperable with the wider world of crypto.
But doing all three at once is the tricky bit.
“If you want it to scale the EVM [Ethereum Virtual Machine] by sacrificing security, we know how to do that. Everyone knows how to do that,” he said. “Just turn it up and make it very, very difficult to run a node but increase the capacity.”
What Goldfeder means is that as you turn up throughput, the hardware requirements for individual nodes also increase. As this rises, so too do the costs of operating and maintaining the node, nudging out individual crypto enthusiasts, and making the only eligible entities larger firms.
Essentially, this route would recreate the large, centralizing aspects of Google-sized data farms.
Not only does this limit a network’s ability to decentralize, but it can be a security issue as there are fewer nodes monitoring a network for any malicious behavior.
Goldfeder and his team aren’t newcomers to security issues either. Just last week, a white hat hacker discovered a bug in Arbitrum that could have led to the theft of over $530 million.
“We're extremely grateful for the white hat, and users can rest assured that it's been well mitigated and was not exploited. And all funds on the system are currently not vulnerable,” he told Decrypt.
And as for the final point, Goldfeder argues compatibility, not just between different projects, but also among developer teams, is crucial for growth.
“If you're a developer, and you've written code in Ethereum, your code will work out of the box on Arbitrum,” he said. “That's why we have such broad adoption because it's so easy for these developers to launch.”
Currently, Arbitrum is leading adoption among other rollup solutions, boasting integrations with over 120 different protocols, according to metrics site DeFi Llama.
The protocol adoption has also been matched by market share; Arbitrum currently commands more than $977 million in total value locked, a metric that approximates the amount of funds flowing through protocols or applications on a given network.
The runner-up isn’t far behind, though, with Optimism hosting over $878 million in total value locked across 74 protocols.
In such early days, this gap could quickly close too. Perhaps that’s why Goldfeder says the Arbitrum team is cooking up some “really good initiatives” to be announced “very, very soon.”
Cryptocurrencies have failed to deliver on their promises, cryptography pioneer Adi Shamir suggested at the RSA Conference in San Francisco, California, on Tuesday. "My personal opinion is that the world would have been better without cryptocurrencies," he told attendees of an expert panel at the conference, per an initial report by The Register. Shamir, co-inventor of the RSA encryption algorithm, was unequivocal about his position. While praising Satoshi Nakamoto's seminal whitepaper on Bitco...
Bitcoin developers are debating a proposal that could fundamentally change what the alpha crypto and network is used for, dividing the community between those who see it as necessary progress and others who fear it threatens Bitcoin's core purpose. At issue is a technical change called "removing OP_RETURN limits." If approved, it would allow people to store much larger amounts of non-financial data directly on the Bitcoin blockchain, for use in things like text and images. The issue Currently, B...
Scroll said Monday it has become the first Ethereum Layer 2 using zero-knowledge proofs to reach a critical development stage, allowing users to post transactions without relying on a central operator. In a post to X, Scroll touted its advances in security, scalability, and decentralization after claiming the project had reached “Stage 1” in its development. “While Scroll has always had a fully functional zk proof system, users previously had to trust the centralized sequencer to avoid censorshi...