Ethereum Layer 2 Arbitrum Launches Nova Chain Links to Reddit

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Arbitrum has launched a second Ethereum layer 2 chain called Arbitrum Nova. Arbitrum developer Offchain Labs says the new chain is optimized for low-cost, high-transaction-volume use cases such as gaming and social projects. The developer has partnered with Reddit to onboard its community points system to Ethereum.

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The new chain, Arbitrum Nova, is optimized for cost-sensitive and high transaction volume use cases such as on-chain gaming and social projects.

Decision Nova goes straight

Arbitrum has launched a new gaming-optimized blockchain and is partnering with Reddit to help move its community points system to Ethereum.

Offchain Labs, developer of the Layer 2 project, announced the update in a press release on Tuesday. Arbitrum Nova, as the new network is known, is now live for all end users following a private July launch for developers. While Offchain Labs' first chain Arbitrum One was designed for more DeFi use cases, Abitrum Nova is optimized for cost-sensitive and high transaction volume scenarios. According to the press release, Arbitrum Nova is designed to be a “premium solution for Web3 games and social applications.”

According to a July blog post from Offchain Labs, Arbitrum Nova is a completely new blockchain from Arbitrum One. It's built on top of the company's AyTrust technology and uses an “Information Delivery Committee” to validate and validate transaction batches before distributing them on the Ethereum mainnet. “Instead of posting all data to the Ethereum network, the committee validates and validates batches of transactions and posts certificates to Ethereum only, saving users significant costs,” Offchain Labs explained in today's announcement. The company says its AnyTrust technology offers stronger security guarantees than other high-income or low-cost blockchains.

Commenting on the launch, Steven Goldfeder, founder and CEO of Offchain Labs, said the new chain marks a “major milestone” for the Arbitrum ecosystem, and that ultra-cheap transaction fees will open up entirely new opportunities for developers. “We look forward to continuously optimizing and improving Nova to further simplify costs,” he added.

Offchain Labs, which has just completed its opening process, has announced that it has partnered with the world's largest online forum, Reddit, to migrate its community points system to Ethereum. The initiative marks the first major deployment on the Arbitrum Nova chain.

Arbitrum is one of several Layer 2 projects working to scale Ethereum. It uses Optimistic Rollup technology to increase leverage and process transactions off-chain. Arbitrum One was launched last year and is currently the ecosystem's leading Layer 2 network. According to L2Beat data, a price of around $2.72 billion has been locked up.

Disclosure: At the time of writing, the author of this article owns ETH and several other cryptocurrencies.

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