Arbitrum is a layer-2 scaling solution for Ethereum that aims to increase the throughput and reduce the gas fees of the Ethereum network. It uses a unique technology called Optimistic Rollups to process transactions off-chain and then submits them to the Ethereum blockchain for finalization. This approach allows for near-instant transaction confirmation and enables the processing of up to 4,000 transactions per second. Additionally, Arbitrum supports the execution of smart contracts written in Solidity, the same programming language used for Ethereum, making it easy for developers to port their existing Ethereum applications to the Arbitrum network. As a result, Arbitrum has become a popular choice for users looking to reduce the cost and improve the performance of their Ethereum transactions.

ARB Token

March 23rd was the launch of The Arbitrum Foundation and DAO Governance for the Arbitrum One and Arbitrum Nova networks. The Arbitrum technology achieved its second stage of decentralization, making it the first EVM roll-up technology to do so. The DAO also holds governance power through the Arbitrum token, with a majority share of the ARB token supply. Additionally, the launch of Arbitrum Orbit today made it possible for developers to launch their own customized Layer 3 chains using Arbitrum's advanced technology stack, which is now permissionless and easier to use than ever before. On this day, 11.62% of the total 10b ARB tokens were airdropped to the network's users.

For further information, you can read Arbitrum's official blog post about the next phase of decentralization.