Join Our Mailing List
Friday February 03, 2023
Bitcoin (BTC) $23,387.27   Ethereum (ETH) $1,640.11
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Vendor Technology

Offchain Labs launches Alpha of scaling solution; Coinbase invests

The startup’s software addresses the concerns of major businesses and enterprises looking to build business-ready applications on the blockchain without sacrificing transaction speed or privacy.

Published by CryptoNinjas.net
09/05/2019
Offchain Labs launches Alpha of scaling solution; Coinbase invests

Offchain Labs, led by a former White House Deputy Chief of Technology and a team of U.S.-based academics, has announced the successful release of the Alpha version of its open-source Arbitrum code capable of supporting thousands of simultaneous Ethereum contracts each of which can process over 500 transactions per second.

Moreover, Coinbase Ventures confirmed it has made an investment in the firm, which adds to an initial seed round earlier this year, which saw Offchain Labs raise $3.7 million in funding from names including Pantera Capital, Compound VC, and Blocknation.

Arbitrum

Arbitrum is a Layer 2 cryptocurrency platform that makes smart contracts scalable, fast, and private. Arbitrum interoperates closely with Ethereum, so Ethereum developers can easily cross-compile their contracts to run on Arbitrum. Arbitrum achieves these goals through a unique combination of incentives, network protocol design, and virtual machine architecture.

Offchain Labs has built a smart contract named the EthBridge, which enables back and forth communication between Arbitrum and Ethereum. Artbitrum also offers an AnyTrust Guarantee that distinguishes the solution from other private chain or sidechain solutions. The AnyTrust Guarantee, built directly into the software, ensures that as long as a single validator is online and acting honestly, the dApp will execute correctly, even if all other validators attempt to cheat the system.

“We believe that blockchains have a distance to go in terms of being enterprise-ready, with the primary issue being scalability. We’ve built a solution that enables dApp developers to improve the performance of their applications without any significant cost or development time. Coinbase Ventures has invested in some of the most well-known and innovative companies in the space and we’re thrilled to see that they share in our vision to make blockchains ready for prime time.”
– Ed Felten, Co-Founder of Offchain Labs and Former Deputy U.S. CTO

47
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram
Source: Arbitrum Whitepaper

Related News

Crypto derivatives protocol SynFutures to deploy on layer-2 Ethereum solution Arbitrum

09/02/2021
Crypto derivatives protocol SynFutures to deploy on layer-2 Ethereum solution Arbitrum

SynFutures, a crypto derivatives trading protocol, today announced that it will deploy its protocol on Arbitrum, an Ethereum layer-2 scaling protocol. With the announcement, SynFutures will become the first DeFi derivatives project to be...

Read more

Offchain Labs rolls out its Ethereum scaling solution Arbitrum One with new $120M in funding

08/31/2021
Offchain Labs rolls out its Ethereum scaling solution Arbitrum One with new $120M in funding

Offchain Labs, a provider of scaling solutions for Ethereum, announced today that their Arbitrum One mainnet will open to the public today. The company also announced it has raised $120M in funding, with its latest...

Read more

Offchain Labs integrates Chainlink on Arbitrum’s secure off-chain smart contracts

02/17/2020
Offchain Labs integrates Chainlink on Arbitrum’s secure off-chain smart contracts

Offchain Labs, a provider of off-chain smart contracts with on-chain security, has announced the release of new capabilities for the larger Ethereum community by enabling the combined use of Arbitrum and Chainlink, which will enable Arbitrum’s...

Read more

The MPC Alliance forms to elevate security and privacy of blockchain services

11/13/2019
The MPC Alliance forms to elevate security and privacy of blockchain services

Developers and practitioners of Multiparty Computation (MPC), announced today the formation of The MPC Alliance, an association of parties with a shared interest in improving the security and privacy of our personal and professional...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet launches anticipated browser extension of its crypto management app

11/14/2022
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

02/02/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

02/02/2023
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
Crypto securitization platform-GenTwo links to all Coinbase assets

Crypto securitization platform GenTwo links to all Coinbase assets

01/14/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy