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Biggest Ethereum Layer 2 Introduces New Chain with Ultra Low-Cost Transactions

Tue, 07/12/2022 - 10:09
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Arman Shirinyan
New technology will allow GameFi, NFT and social projects to cut their transaction expenses
Biggest Ethereum Layer 2 Introduces New Chain with Ultra Low-Cost Transactions
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The largest Layer 2 network on Ethereum in terms of TVL is ready to present its new Arbitrum AnyTrust technology by launching Arbitrum Nova chain, which is live on mainnet and open for developers who are willing to deploy applications and solutions ahead of the public launch for users.

Earlier in 2022, Arbitrum announced the launch on Arbitrum AnyTrust technology optimized for ultra low-cost transactions and high security. To test out the newly released chain, the project releases the first network built with the new technology, Arbitrum Nova.

After releasing Nova, Arbitrum has two separate chains on mainnet. The new network is mostly designed for gaming and social applications, while the first network will act as a home for DeFi and NFT projects.

Prior to the public launch for end-users, Nova will give network access to all developers who are willing to deploy their apps on the new network. If you are willing to build something on Nova, you can request access today.

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The network's next step is opening up the new chain to everyone and testing the stability of Nova before onboarding new projects and developing a robust ecosystem. End-users will be able to use the new network in the upcoming weeks.

AnyTrust technology

The main difference between Rollups and AnyTrust is the degree of decentralization and the transaction costs. AnyTrust chains will introduce their own method of security assumption, which allows cheaper transactions, in contrast to Rollups, which inherit security directly from Layer 1.

Networks built with AnyTrust technology can be used to deploy applications that are highly cost-sensitive and have high transaction volume expectations. One of the most notable examples is GameFi projects, or blockchain-based social applications with a high level of interaction between users.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.