What Is Arbitrum (ARB)?More Information

Who Are The Founders of Arbitrum (ARB)?

Arbitrum was founded by a team of developers at Offchain Labs, a company focused on building scalable and secure blockchain solutions. The three co-founders of Offchain Labs are:

1. Ed Felten – Ed Felten is a professor of computer science and public affairs at Princeton University. He previously served as the Deputy U.S. Chief Technology Officer in the Obama Administration and is a renowned expert in the fields of computer security and privacy. Felten is also a co-founder of the White House’s Office of Science and Technology Policy.
2. Steven Goldfeder – Steven Goldfeder is a computer science Ph.D. candidate at Princeton University, where he studies cryptography and computer security. Goldfeder previously worked at Microsoft Research and has published several influential papers on blockchain security and privacy.
3. Harry Kalodner – Harry Kalodner is a computer science Ph.D. candidate at Princeton University. His research focuses on blockchain systems and cryptocurrencies, with a particular emphasis on their security and privacy properties. Kalodner has also worked as a cybersecurity consultant for several major companies.

Together, Felten, Goldfeder, and Kalodner founded Offchain Labs in 2018 and began working on the Arbitrum project shortly thereafter. The team has since grown to include several other experienced developers and advisors from the blockchain industry.

How Does Arbitrum (ARB) Work?

Arbitrum is a layer-2 scaling solution for Ethereum that uses a technique called optimistic rollups to increase transaction throughput and reduce fees. The network achieves this by processing transactions off the Ethereum blockchain, but maintaining a cryptographic proof of the off-chain transaction state on Ethereum.

Optimistic rollups work by having a set of validators who are responsible for verifying transactions on the off-chain Arbitrum network. These validators then periodically submit the state of the off-chain network to Ethereum as a single transaction, which is verified by the Ethereum network.

This approach allows Arbitrum to process thousands of transactions per second, with fees that are significantly lower than those on the Ethereum mainnet. Additionally, Arbitrum is fully compatible with Ethereum smart contracts, which means that dApps built on Ethereum can easily migrate to Arbitrum to take advantage of its scalability benefits.

Arbitrum uses its native token, ARB, as a means of paying for transaction fees and incentivizing validators to process transactions. Validators earn ARB tokens for processing transactions and can also be penalized if they act maliciously on the network. ARB can be staked to become a validator or to participate in governance decisions on the network.