ArbitrumARB

About(ARB)

FAQ About Arbitrum (ARB)

• What Is ARB?

  ARB is a key component of the Arbitrum eco-system, as it serves multiple functions, such as securing and incentivizing the network, encouraging users and developers and enabling efficient transaction. ARB's utility includes:
  
  1. The Arbitrum network is secured by ARB through staking. Validators are required to hold tokens in order to maintain the integrity of the platform, which discourages malicious behavior.
  2. The token rewards validators and users for their hard work. Users can also earn ARB by participating in Arbitrum ecosystem-related activities.
  3. ARB offers lower transaction fees and faster speeds than Ethereum. This improves the user experience for DeFi applications.

• How to Buy ARB?

  You can buy Arbitrum here on Toobit with USDT. Read our guide on for more information.

• How to Sell ARB?

  You can sell ARB to USDT here on Toobit. Read our guide on How to Trade Spot on Toobit for more information.

• Who Are the Founders of Arbitrum (ARB)?

  Arbitrum was created by Offchain Labs in New York, a company that specializes in blockchain development. Ed Felten and Steven Goldfeder are the founders of Offchain Labs. They were all Princeton University researchers who have extensive experience in computer science and cryptography.

• How to Withdraw Arbitrum (ARB) on Toobit?

  You can withdraw Arbitrum and other crypto tokens into usdt here on Toobit. Read our How to Withdraw Crypto on Toobit guide for more information.

• What is ARB Price Now?

  Are you looking for ARB? Live ARB price is updated in real-time on Toobit.

• How Is Arbitrum Secured?

  Arbitrum derives its security from the Ethereum network, which provides consensus and finality for Arbitrum transactions. In other words, Ethereum guarantees the validity of the rollup’s off-chain computation and data availability behind the computation.
  
  The use of optimistic rollups means Arbitrum executes transactions on the rollup outside of Ethereum, and bundle multiple transactions in a batch before submitting it to mainnet. As the term “optimistic” suggests, the off-chain transactions are assumed to be valid and no proof-of-validity is submitted. In case of a dispute, there is a time period after the rollup is submitted where anyone can challenge the transaction by submitting a fraud proof, all while accounting for the ARB Price.

• What is happening with Arbitrum Airdrop?

  Arbitrum is currently distributing an airdrop of its native token, ARB, to individuals who have previously engaged with specific Ethereum-based applications. The purpose of this initiative is to encourage users to explore the capabilities of the Arbitrum network and promote wider adoption of the protocol.
  To qualify for the airdrop, participants must meet several criteria, including:
  Having transferred assets into Arbitrum One or Arbitrum Nova
  Having executed transactions over multiple months
  Having interacted with various smart contracts
  Having transacted with a minimum cumulative value in USD
  By meeting these requirements, users can take advantage of the ARB token airdrop and potentially benefit from their engagement with the Arbitrum ecosystem.

• How Many Arbitrum (ARB) Coins Are There in Circulation?

  ARB is the native governance token of Arbitrum, the Layer 2 scaling solution for Ethereum. It is set to launch on March 23rd, 2023, distributing 12.75% of the total supply of ARB tokens to eligible recipients and DAOs.
  
  The main utility of the ARB token is to enable decentralized governance of the Arbitrum ecosystem. ARB holders have the power to govern the network by voting on proposals for both the Arbitrum One and Arbitrum Nova chains. This includes decisions on upgrades, network parameters, grants, bounties, and integration of new features.
  
  Unlike ETH on the Ethereum network, ARB does not serve as a gas fee token on Arbitrum. Fees on the platform are paid in ETH or any other supported ERC-20 token by DApps. This allows ARB holders to stake their tokens and earn fees for securing the network, rather than spending them to use services.
  
  With a fixed total supply of 10 billion tokens, ARB token allocations include 42.78% for the Arbitrum DAO treasury (4.278 billion), 26.94% for Offchain Labs teams and advisors (2.694 billion), 17.53% for investors (1.753 billion), 11.62% for airdrop to users (1.162 billion), and 1.13% for airdrop to DAOs (113 million). ARB price is relatively stable compared to other cryptocurrencies.

• What Makes Arbitrum Unique?

  Arbitrum is a layer 2 scaling solution for Ethereum that offers several unique features that set it apart from other scaling solutions:
  Optimistic rollup technology: Arbitrum uses optimistic rollup technology, which processes transactions off-chain and only commits them to the Ethereum mainnet if a dispute arises. This allows Arbitrum to achieve high scalability while maintaining security and decentralization.
  EVM compatibility: Arbitrum is fully compatible with the Ethereum Virtual Machine (EVM), making it easy for developers to port their existing smart contracts and dapps to the Arbitrum platform without any major changes.
  Fast and low-cost transactions: By processing transactions off-chain and aggregating them into batches, Arbitrum can significantly increase transaction throughput and reduce fees compared to the Ethereum mainnet.
  Decentralized validator network: Arbitrum relies on a decentralized network of validators to confirm transactions and secure the network, ensuring censorship resistance and decentralization.
  Developer-friendly tools: Arbitrum offers a suite of developer tools and documentation to make it easy for developers to build and deploy dapps on the platform, including support for popular developer frameworks like Truffle and Remix.
  Arbitrum's combination of optimistic rollup technology, EVM compatibility, fast and low-cost transactions, decentralized validator network, and developer-friendly tools make it a unique and compelling scaling solution for Ethereum.