Try Quests to earn SOLOpen Analytics Bounty: Arbitrum (August 6)
Arbitrum Explained – What is Arbitrum?
Arbitrum== is an ==Ethereum== scaling solution designed by ==Offchain== Labs to reduce the costs and latency of decentralized applications (==dApps==) for users and developers. Using a variation of one of Ethereum’s popular scaling solutions, known as an “Optimistic rollup”, the ==Arbitrum Rollup== protocol minimizes the amount of data used on-chain and supports arbitrary ==Ethereum== Virtual Machine (==EVM==) smart contracts using common ==Ethereum== tooling. ==Arbitrum== smart contracts can be created using the Solidity programming language.
Arbitrum is an Ethereum scaling solution designed by Offchain Labs to reduce the costs and latency of decentralized applications (dApps) for users and developers. Using a variation of one of Ethereum’s popular scaling solutions, known as an “Optimistic rollup”, the Arbitrum Rollup protocol minimizes the amount of data used on-chain and supports arbitrary Ethereum Virtual Machine (EVM) smart contracts using common Ethereum tooling. Arbitrum smart contracts can be created using the Solidity programming language. These smart contracts drastically reduce transaction fees and are highly customizable without compromising on privacy and security. For those who are wondering, “what is Arbitrum?” – let’s take a closer look!
In this article, we’re going to dive deep into ==Arbitrum==’s technology and look at various types of ==Ethereum== scaling solutions. Also, we’ll look at the background of Arbitrum, including the development team, ==Offchain== Labs. Moreover, we’ll explore the launch of ==Arbitrum== One ==mainnet== chain and the competitive advantages it boasts.
Arbitrum== is designed to facilitate the mass scaling and adoption of the second-largest blockchain in the industry. For our readers new to blockchain technology and cryptocurrency, to fully understand the value propositions of Arbitrum we strongly suggest checking out Ivan on Tech Academy. Our Blockchain & Bitcoin 101 course explains the fundamentals of this cutting-edge technology with easy-to-follow video-guided tutorials!
Also, our Ethereum 101 course is the best place to learn about the differences between the two largest blockchains, Bitcoin and Ethereum. Discover the origin of smart contracts and decentralized finance (==DeFi==) – the backbone of the blockchain industry! Start your blockchain journey with Ivan on Tech Academy today!
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Flipside Crypto has built pathways and provides the tooling for you to develop deep and thorough crypto analysis. Now, we want to see what you can do with them.
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Submit any dashboard you think is worthy of being shared with our partners, and with the world. We’ll select the best for payment and amplification through our social and content channels. (Please note that many dashboards submitted to this bounty will not be rewarded with payment — only the best of the best will do here.)
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As you dive in and work through your analyses, we would love to see what insights you find and dashboards you develop. Feel free to submit your work via this bounty card for internal review. Elite tier work will be shared out on our social channels and to partners highlighting the analyst.
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Be sure to use the Arbitrum tables, which can be found under the "Arbitrum " label in the Flipside app
Conclusion
We saw that the Failed transactions in ==Arbitrum== was not rare. The number of transactions were in a decline recently but with the ETH surge it seems to have picked up slighly. However, the rise in ETH price had a positive correlation with the failure percentages, and it's highly likely that the bots who seems to be trying to swap tokens on ==Uniswap== like ==dexes== during these ETH volatilities may be the causation for the failed percentage and the ==ETH== price.
The amount of transactions, both failed and successful, seems to have declined since the start of July.
Interestingly the failure percentage is on a slight uptrend overtime.
Specially in last 1-2 weeks we can see some 'volatility' in failure percentages which suggest the transactions 'successfullness' was bit unstable compared to the previous times.