Arbitrum Launches Its Layer 2 Chain Arbitrum Nova

Reddit's Community Points System
Arbitrum August

Nova, Arbitrum's second Ethereum Layer 2 chain, has just been released. Arbitrum Nova is a new chain primarily designed for gaming and social applications. The chain is designed for high-volume projects searching for secure, affordable solutions. According to Arbitrum, access has been granted to more than 100 development teams. It also uses a Data Availability Committee, and initial members include ConsenSys, FTX, Google Cloud, Off-chain Labs, P2P, Quicknode, and Reddit.

Reddit's Community Points System

The chain can count on implementing Reddit's Community Points system on Nova as one of its accomplishments. There are now two communities involved in this deployment, though there is a good chance that number will rise. The current emphasis is on promoting development, expanding the ecosystem, and expanding the user base.

In contrast to Arbitrum One, Nova gives the transaction data to the Data Availability Committee first, with the data only flowing on-chain if the committee succeeds. It presumes that at least two of the committee members are truthful.

Arbitrum August

The following weeks will bring more news from Arbitrum, which has called this month "Arbitrum August." It has already converted Rinkeby to Nitro and aims to migrate One on August 31. The initiative, which has had a lot of success over the last few months, has a busy week ahead of it. For several reasons, Ethereum layer two solutions have been in the news. Nova might be the catalyst for a fresh round of chain development.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Arbitrum Arbitrum Nova Layer 2 Chain arbitrum layer 2 arbitrum layer 2 website arbitrum token arbitrum layer 2 coin optimism layer 2

Arbitrum Launches Its Layer 2 Chain Arbitrum Nova

Usha Yadav

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.