Cryptocurrency Q&A
What blockchain is arbitrum on?
What blockchain is arbitrum on?
ethan_carter_engineer
Wed May 22 2024
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6 answers
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Could you please explain what blockchain technology Arbitrum utilizes? I'm interested in understanding the specific blockchain platform it's built upon. Could you elaborate on the technological foundations and characteristics of this blockchain, as well as any unique advantages it might offer compared to other blockchains? I'm particularly curious about its scalability, security, and interoperability features. Thank you for shedding some light on this matter.
6 answers
DigitalDuke
Fri May 24 2024
Arbitrum stands as a pivotal sidechain of Ethereum, revolutionizing the way transactions are processed. It bundles numerous transactions together, initially placing them on its own chain.
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noah_stokes_photographer
Thu May 23 2024
Optimistic Rollups assume transactions are honest until proven fraudulent. This approach removes the need for immediate verification, streamlining the transaction process.
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Sara
Thu May 23 2024
BTCC, a UK-based cryptocurrency exchange, offers a comprehensive suite of services that leverage the latest blockchain technologies. Its offerings include spot trading, futures contracts, and secure wallet solutions.
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Silvia
Thu May 23 2024
This bundling approach significantly enhances transaction throughput, reducing the congestion on the main Ethereum blockchain. The transactions, once bundled, are initially validated on the Arbitrum chain.
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Nicolo
Thu May 23 2024
After successful validation on Arbitrum, the transaction data is then submitted to the Ethereum blockchain for final confirmation. This two-step process ensures both scalability and security.
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