The Graph Successfully Completes Phase One of Arbitrum One Expansion Plan

02/15/2023 06:16 • Blockchain Briefs • 83 views

On February 15, according to the official news, the decentralized index protocol The Graph has completed the first phase of the Arbitrum One expansion plan, which aims to improve the speed of users participating in the network and save gas fees through L2 expansion.

The Graph has completed the first phase of the Arbitrum One expansion plan, and the index award will be launched in the second phase

Analysis based on this information:

The Graph, a decentralized index protocol, announced on February 15th that it had completed the first phase of its expansion plan on Arbitrum One. The aim of the plan is to enhance the speed and efficiency of user participation on the network, while simultaneously saving gas fees through L2 expansion.

Decentralization is a guiding principle of the blockchain industry, and The Graph is no exception. The protocol is designed to enable developers to build decentralized applications (dApps) on the Ethereum blockchain by providing access to its data indexing and query capabilities. The Graph is imperative in the development of any dApp as it allows developers to efficiently store and retrieve data from the blockchain. The Graph is built on top of Ethereum, which leads to slow speeds and high gas fees when the number of users and transactions increase significantly. This factor is something that the protocol aims to solve with its newly launched expansion plan.

Arbitrum One is a Layer 2 (L2) scaling solution meant to mitigate a portion of Ethereum blockchain’s constraints in terms of speed, scalability, and costs. The primary aim of Arbitrum One is to allow developers to create Ethereum-based dApps that are much faster, secure, and cheap compared to the base chain. The Graph has collaborated with Offchain Labs, the organization behind Arbitrum One, to launch its expansion plan.

The first phase of The Graph’s expansion plan on Arbitrum One has significantly increased transaction throughput capacity and the speed with which users can access the network’s services. L2 scaling solutions such as Arbitrum One have proved to be instrumental in solving significant issues related to congestion and excessive fees on Ethereum blockchain’s base layer.

In conclusion, The Graph’s completion of the first phase of its expansion plan on Arbitrum One is a significant milestone that marks the beginning of better user experience, faster speeds, and less expensive gas fees. The Graph has demonstrated its commitment to providing efficient decentralized solutions that can build more sustainable web3 applications for the future.

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