Arbitrum Price in India (ARB)

Arbitrum (ARB) is a fast-growing Layer 2 solution for the Ethereum blockchain. The protocol was created to tackle the scalability issue faced by the Ethereum blockchain, making Ethereum faster and cheaper. To achieve this, the platform leverages optimistic rollups, a scaling solution that offloads transactions off-chain, improving speed, scalability, and cost-efficiency on Ethereum. It is powered by its native token ARB, which is an ERC-20 token standard. 

The Arbitrum network was founded in 2021 by Steven Goldfeder, Harry Kalodner, and Ethan Cecchetti under the banner of Offchain Labs, a company co-founded by them.

• Optimistic Rollups: Like Layer 2 solution provider Optimism, Arbitrum also uses optimistic rollups to offer fast and cost-effective transaction fees, improving Ethereum’s scalability and the overall network operation. 

• ARB token: The ARB token is the native token of the Arbitrum ecosystem. It serves multiple key functions in the Arbitrum ecosystem, such as facilitating on-chain transactions and governance. 

• Interoperability: Arbitrum offers interoperability among other Layer 2 networks and the Ethereum blockchain, enabling seamless communication and asset transfer.

• EVM Compatibility: Arbitrum powers its ecosystem on the Arbitrum Virtual Machine (AVM), which is an extension compatible with the Ethereum Virtual Machine (EVM). This enables developers to seamlessly deploy their existing Ethereum smart contracts without modification.

ARB, an ERC-20 token standard, is the native token of the Arbitrum ecosystem. The token, launched in August 2021, has grown to become one of the top cryptos in the broader crypto market with a market cap of $1,694,406,968, as per CoinMarketCap. ARB is currently ranked at #44 among top cryptos by market cap. In terms of trading volume, the token ranks at #32, indicating crypto investors have high interaction with the crypto. Analysts expect ARB price to reach $11.59 by the end of 2030.

Download the CoinSwitch app to invest in ARB.

• ARB is used to facilitate on-chain transactions.

• Crypto investors can buy the token from a crypto exchange like CoinSwitch and hold it to leverage from price fluctuations. 

• ARB token holders can participate in the Arbitrium governance via voting.

• With the approval of Arbitrum Decentralized Autonomous Organization (DAO), ARB token holders can stake their holdings and generate passive income.

• Arbitrum makes the Ethereum network better by improving the network’s transactions per second (TPS).

• Arbitrum reduces transaction fees for users on the Ethereum blockchain by offloading the computation and storage from the Ethereum mainnet.

• Arbitrum adopts Ethereum’s security model, making it as secure as the Ethereum mainnet.

• ARB price is subject to market volatility which may impact its price.

• Arbitrum is closely tied to Ethereum and its dependency on Ethereum for security and scalability is often seen as a downside. 

• Concepts like optimistic rollups, which is the foundation on which ARB is built, can be difficult to understand for users new to the ecosystem.

1. To trade in Arbitrum (ARB), start by downloading the CoinSwitch app. 

2. All it takes is just ₹100. 

3 CoinSwitch offers a secure environment for crypto trading with just a nominal fee.

Arbitrum was launched in August 2021 by Offchain Labs, a startup from Princeton. The protocol was created to make smart contracts more scalable. In its initial seed funding, the company raised $3.7 million in a round led by Pantera Capital, with participation from Compound VC, Raphael Ouzan, Jake Seid, and others. This was followed by $20 million in Series A funding and a $100 million Series B led by Lightspeed Venture Partners. The funding gave the company a valuation of $1.2 billion.