First Monero and Ethereum Atomic Swap Completed on Arbitrum

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Ethereum Layer 2 Scaling Solution Arbitrum has been rising through the ranks ever since its public launch. Its total value locked (TVL), nearly 9,400%, has soared by almost 9,400% in just two weeks.

The total value of Arbitrum currently locked in Arbitrum, according to the crypto industry data provider Dune Analytics. It’s currently second in market share with 30%. This is just behind Polygon ERC20 bridge with 34% and ahead of 20% by Valanche (AVAX Bridge).

This is a significant increase for Arbitrum. It had a TVL close to USD 22 million just two weeks back, or September 1. This is a 9,387% increase in just a few weeks.

has an increase in TVL of 2,376% in the second-ranked Arbitrum within the last seven days. The 7-day change of Polygon TVL is -7, Avalanche it is -8, and Solana Wormhole it is 80%.

Arbitrum is an Optimistic rollup (OR), which is a layer-two solution and is intercompatible with Ethereum. The network is Layer 1 or the base layer, while Layer 2 solutions are built on top of it.

As reported, decentralized financial ( DEFI), yield-farming, and the non-fungible token sector ( TFT_) have put a lot of strain on Ethereum’s network. This has led to a common sight of skyrocketing fees.

OR is a tool frequently mentioned to solve Ethereum’s scaling problem. It promises a higher throughput and greater security.

According Nick Chong (an investment analyst at ParaFi Capital and a supporter Offchain Labs), people initially turned to Layer 1 options to solve high fees. However, these “often compromise security with smaller node set and centralized infrastructure for bridging.” Chong explained that a rollup “is a scaling solution that inherits security from the underlying network and simultaneously improves transaction throughput, fees, and other aspects.”

Chong noted also that it would be fascinating to see projects launch first on Arbitrum, and then branch out to other networks.

Arbitrum is an Optimistic rollup (OR), which is a layer-two solution and is intercompatible with Ethereum. The network is Layer 1 or the base layer, while Layer 2 solutions are built on top of it.

As reported, decentralized financial ( DEFI), yield-farming, and the non-fungible token sector ( TFT_) have put a lot of strain on Ethereum’s network. This has led to a common sight of skyrocketing fees.

OR is a tool frequently mentioned to solve Ethereum’s scaling problem. It promises a higher throughput and greater security.

According Nick Chong (an investment analyst at ParaFi Capital and a supporter Offchain Labs), people initially turned to Layer 1 options to solve high fees. However, these “often compromise security with smaller node set and centralized infrastructure for bridging.” Chong explained that a rollup “is a scaling solution that inherits security from the underlying network and simultaneously improves transaction throughput, fees, and other aspects.”

Chong noted also that it would be fascinating to see projects launch first on Arbitrum, and then branch out to other networks.tweeted an analyst from crypto research firm Mesari Ryan Watkins who also compared using the platform to “using Ethereum early 2020” and described the experience as “incredible.”

even commented on the fact that Arbitrum processed more transactions over the past 24 hours than Bitcoin. On September 12, there were 267.608 transactions on Arbitrum, Arbiscan. The same day, there was 192,544 transactions made on Bitcoin, per bitInfoCharts.

Offchain Labs announced on August 31st that the Arbitrum One mainnet was now open to the public. In May, Arbitrum One launched its beta launch for developers.

The company also announced that it raised USD 120m through its Series B round of funding led by Lightspeed Venture Partners.

Arbitrum doesn’t have a token.

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