SotN #48 - Arbitrum LAUNCH, w/ Arbitrum Team

Jun 2, 2021

In this discussion, Steven Goldfeder and Harry Kalodner, co-founders of Offchain Labs, unveil the exciting launch of Arbitrum, a cutting-edge Layer 2 solution for Ethereum. They delve into how optimistic roll-ups can revolutionize blockchain scalability. The pair address the potential of Arbitrum within the DeFi landscape, sharing insights on its unique resource management and competitive edge over other platforms. They also explore the vital connection between Arbitrum and Ethereum, emphasizing collaboration and community in shaping the future of decentralized finance.

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ANECDOTE

Arbitrum Launch

Arbitrum's launch is a significant milestone after years of development and overcoming disappointments with previous scaling solutions.
The team persevered through challenges and user feedback during the testnet phase, leading to a successful mainnet launch.

INSIGHT

Fair Launch

Arbitrum's mainnet launch is a "fair launch," giving all developers equal access, preventing any single project from having an unfair advantage.
This approach aligns with Ethereum's ethos of decentralization and avoids creating kingmakers.

INSIGHT

EVM Compatibility

Arbitrum's EVM compatibility simplifies deploying existing Ethereum dApps, often requiring minimal code changes.
This allows for rapid deployment and accelerates the growth of the Arbitrum ecosystem.

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Arbitrum is one of Ethereum's hottest L2 scaling solutions, and it has LAUNCHED ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/ 🎙️ WE'RE HIRING AN EDITOR: https://cryptocurrencyjobs.co/marketing/bankless-editor-writer/ 🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge ------ BANKLESS SPONSOR TOOLS:

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------ 📣 KYBER | DeFi’s First Dynamic Market Maker Protocol https://bankless.cc/kyber ------ State of the Nation #48: Arbitrum LAUNCH Guests: Co-Founder & CEO: Steven Goldfeder CTO: Harry Kalodner

Steven Goldfeder is Co-founder and Chief Executive Officer at Offchain Labs. He holds a PhD from Princeton University, where he worked at the intersection of cryptography and cryptocurrencies. Harry Kalodner is Co-Founder and Chief Technology Officer at Offchain Labs, where he leads the engineering team. Before Offchain, he attended Princeton as a PhD candidate, where his research explored economics, anonymity, and incentive compatibility of cryptocurrencies.

Arbitrum released its Mainnet for Developers last Friday. This is an EVM-Compatible Layer 2 Optimistic Rollup, which allows for scaling Ethereum's app layer without sacrificing layer 1 Ethereum security & consensus. This is a massive step forward for the blockchain space and a culmination of years of technical research and testing. This is a milestone in effectively scaling blockchains, while maintaining core cypherpunk values.

There are tremendous opportunities and possibilities in this new digital real estate. This hub of optimized blockspace keeps the economic security guarantees of Ethereum and poses to greatly improve the DeFi user experience. To scale to a billion users, projects like Arbitrum need to earn legitimacy and demonstrate efficacy as the Ethereum ecosystem continues to mature. In the immediate term, the next few months will be exciting to watch - will we see a DeFi Layer 2 Summer?

------ Resources:

Arbitrum: https://arbitrum.io/ Arbitrum Twitter: https://twitter.com/arbitrum?s=20 Arbitrum Discord: http://discord.gg/5KE54JwyTs

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Topics Covered:

0:00 Buffer 0:30 Intro 9:48 Arbitrum's Steven and Harry 13:00 Shipping A Layer 2 Product 17:51 A Fair Launch, Equal Opportunity 21:36 Migrating dApps to Layer 2 25:43 A Flourishing Ecosystem 29:17 Bridging the User Experience 33:16 Different than a Sidechain 36:50 Layer 2 ETH Fees 41:10 Resources & Scaling 47:03 Delay Period for Exiting 54:11 Complexity of Rollups 58:30 A Digital Nation-State 1:06:23 Ether is the Reserve Currency 1:11:23 Layer 2 DeFi Summer 1:16:30 Chainlink and Arbitrum 1:20:54 Squeezing the MEV Balloon 1:25:28 Predictions, DeFi Summer 1:30:50 Final Thoughts 1:36:38 Closing & Disclaimers

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