Arbitrum is a Layer 2 scaling solution for Ethereum that aims to improve the scalability and reduce the transaction fees of the Ethereum blockchain. It is an innovative technology that was developed to overcome the limitations of the Ethereum network and make it more efficient.
The Ethereum network has been struggling to keep up with the growing demand for decentralized applications (dApps) and decentralized finance (DeFi) protocols. The high transaction fees and slow transaction processing times have become a bottleneck for the growth of the Ethereum ecosystem. As a result, Arbitrum was later developed to solve these issues.
Who creates Arbitrum?
Arbitrum was created by Offchain Labs, which is a blockchain research and development company founded by Ed Felten, Steven Goldfeder, and Harry Kalodner. Together, they founded Offchain Labs in 2018 and developed Arbitrum as their flagship product.
Ed Felten is a professor of computer science and public affairs at Princeton University and a former Deputy U.S. Chief Technology Officer under President Obama.
Steven Goldfeder is a computer science Ph.D. candidate at Princeton University.
Harry Kalodner is a computer science Ph.D. candidate at the University of Maryland.
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