Scaling Ethereum with Arbitrum & The Future of Layer-2

The data regarding the Arbitrum ecosystem, a solution that supports the scaling of Layer-2 and many more in REDeFiNE TOMORROW 2023, has been shared by Steven Goldfeder, CEO & Co-Founder of Arbitrum, and Adam Goldberg, Co-Founder of Standard Crypto. This time, the discussion centered on technical matters and community supervision.

The evolution of Arbitrum, whose developers are Off Chain Labs, is a set of technologies that was initially developed through an academic event in Princeton and has since evolved into a commercial organization with the launch of Arbitrum Mainnet in August 2021.

Plus, the ecosystem now has the recently launched Arbitrum DAO and Arbitrum Foundation, which will strengthen Arbitrum's position in the market. DeFi's main hub is currently Arbitrum One, while the center for blockchain gaming networks and social media apps is Arbitrum Nova.

Handling community management tasks that, compared to other platforms, have a fairly high level of technological complexity.

Goldfeder highlighted the concept of self-operated supervision through the community's vote for technical improvements when he discussed Arbitrum's community management, which contains challenging technical issues.

Voters can occasionally become confused by technical issues. Goldfeder proposed that the community should assign its authority to vote to particular experts who are trusted by people to make the best choice. The process is comparable to the democratic system, where representatives of the people are elected. Only decisions with sufficient data and a need for additional verification will be guaranteed by this process, which also establishes a balance to maintain the completion of the supervision process. This approach also involves external investigations and freelance experts.

Appchain’s trend in the blockchain world

Goldfeder listed Appchain's strengths and weaknesses for general and niche applications. The use of these two types depends on goals and business types, as evidenced by the shared infrastructure and security of public blockchains and the difficulty in developing the unique infrastructure for the custom chain network of Appchain. Because there are many risk factors in the world of cryptocurrencies, such as fluctuation and fees, you should make a wise choice. You should make a wise choice because there are many risk factors in the world of cryptocurrencies, such as fluctuation and fees.

The progress of Layer-2

There is a significant trend in Layer-2, such as the Ethereum Virtual Machine (EVM) or the smart contract code, which is adaptable to all programming languages. The Arbitrum Stylus project, created by Offchain Labs to create networks using the technology of Arbitrum Nitro, was introduced as another fascinating product in the Arbitrum ecosystem. This broadens the developer base and promotes other advancements for the development of Layer-2 by enabling programmers to write code in any language, including Rust and C++.

Additionally, Goldfeder confirmed that Arbitrum Stylus' verification system is available and will be functional by year's end. However, he emphasized that because community members are involved in determining the network's future, the introduction of the features and applications must also receive their approval.

How will the future of scaling efforts be? (Optimistic Vs. ZK Rollup) 

Despite the fact that Optimistic Rollup is currently more cost-effective, capable of performing more tasks, and more ready, according to Goldfeder, this industry is still in its early stages of development. When ZK Rollup technology reaches its full capacity, it will also be able to make progress and compete. Or perhaps better technologies will emerge in the future.

How can we motivate or select the experts who will represent us and cast our votes in the DAO?

Paying the representatives in exchange for their participation was not something Goldfeder agreed with. Those who truly have an interest in products, such as anyone who is aware of the ecosystem and its community, in his opinion, should be the ones who make these decisions. He emphasizes the significance of creating products that have the potential to revolutionize an industry, draw participants in through their attractiveness, and account for both the gains and losses of projects.

The last section of the presentation featured Goldfeder expressing his excitement for a wide range of projects within the Arbitrum ecosystem that highlight the advancement of innovation and constantly develop new initiatives. He does not single out any projects as his favorites, demonstrating the ecosystem's diversity and creativity.

Continue watching on YouTube: https://youtu.be/Wis6T5otQ3c