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Spring startup Offchain Labs received a large sum in the amount of 3.7 billion dollars in investments from Coinbase Labs. The alpha version of the technical solution under the name Arbitrum already running.
The developers note that Arbitrum will increase the speed of processing transactions in the blockchain, the Ethereum to 500 pieces per second. It is noteworthy that the project is open source, so any developer will be able to create dApps to handle increasing volumes of data while maintaining the privacy.
To work with Arbitrum new smart contracts will require compilation with the help of specialized programs. The transaction will take place outside the network via smart-contract EthBridge, combining the blockchain with Ethereum Arbitrum.
A mechanism called AnyTrust Guarantee will control the correct operation of decentralized applications even in the case when the validator tries to cheat the system.
In fact Arbitrum technology can be implemented in any blockchain, but now the developers are focused on the development and testing of solutions for Ethereum, the problems of scalability which is now spoken by many community users.
Ed Felten, co-founder of Offchain Labs, is confident in the effectiveness of the project Arbitrum. He says that he will solve the scalability problem and to increase the speed of applications without increasing time spent on their development.
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