Rising Data Indicators on the Arbitrum Network with Imminent Release of Air Drop

03/23/2023 09:20 • Blockchain Briefs • 85 views

According to reports, according to data from the OKLink multi-chain browser of the Ouke Cloud Chain, various data indicators on the Arbitrum network have risen with the imminent release of the Arbitrum air drop. Currently, the total number of addresses on the Arbitrum chain is close to 6.4 million, with an increase of over 80000 addresses in the past 24 hours, and an increase of over 14000 active addresses in the past 24 hours. Currently, the total number of transactions on the chain exceeds 146 million, and the number of TPSs exceeds 29 transactions per second.

The address on the Arbitrum chain has increased by over 80000 in the past 24 hours

As per reports, the Arbitrum network has been witnessing a surge in various data indicators in anticipation of the imminent release of its air drop. The OKLink multi-chain browser of the Ouke Cloud Chain revealed that the total number of addresses on the Arbitrum chain has reached close to 6.4 million, with over 80,000 new addresses added in the last 24 hours alone, and more than 14,000 active addresses noticed in the last 24 hours. Additionally, the number of transactions on the chain has surpassed 146 million, with over 29 transactions being processed per second.

What is Arbitrum Network?

Before delving into the details of the recent rise in the Arbitrum network’s data metrics, let’s take a moment to understand what it is. Arbitrum Network is a Layer 2 scalability project that aims to improve the overall performance and functionality of decentralized applications (DApps) by leveraging various scaling techniques.

How Does Arbitrum Network Work?

Arbitrum Network provides users with a way to conduct smart-contract-based transactions off-chain, which significantly reduces the time and costs associated with such transactions. Essentially, it helps resolve the scalability issues faced by current-generation blockchain networks while maintaining their security features.
To achieve this, the Arbitrum network uses a technique called a “rollup.” Simply put, a rollup is a way to bundle multiple transactions together into a single transaction, which can then be processed more efficiently. Once the transactions have been processed, they are committed to the underlying blockchain network.

The Rise in Data Indicators on the Arbitrum Network

As mentioned earlier, the Arbitrum network has been witnessing a sudden surge in various data indicators lately. This surge can primarily be attributed to the imminent release of the Arbitrum Network’s air drop, which has generated excitement and momentum amongst the cryptocurrency community.
The air drop is set to distribute $est tokens to Arbitrum users, which has sparked interest in the network and led to a rise in new addresses being added to it. Moreover, the Arbitrum network’s performance is noteworthy, with its transactions per second (TPS) exceeding 29, ensuring swift and efficient transaction processing.

Conclusion

The Arbitrum network’s performance and scalability-enhancing techniques have made it an attractive proposition for DApp developers and crypto enthusiasts alike. Its recent surge in data indicators is a testament to its potential and growing popularity amongst its users. We can expect much more from the network in the future as it continues to improve its capabilities and expand its user base.

FAQs

Ques. Is the Arbitrum Network’s handling of transactions secure?
Ans. Yes, the Arbitrum Network ensures the security of transactions utilizing several techniques, including fraud proofs to protect against invalid transactions and the ability to challenge the network’s state.
Ques. Can Arbitrum Network support multiple chains?
Ans. Yes, the Arbitrum Network can support multiple chains, which greatly expands its compatibility with different DApps.
Ques. What are $est tokens?
Ans. $est tokens are ERC-20 tokens that can be used to participate in the governance of the system and used for staking purposes.

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