To encourage ecosystem growth, developers will have access to a permissionless solution that will allow them to build their own Layer 3 blockchains in the Arbitrum ecosystem

NEW YORK, March 16, 2023 /PRNewswire/ --The Arbitrum Foundation, announced today the launch of Arbitrum Orbit, a permissionless solution for any developer to build a Layer 3 (L3) blockchain using Arbitrum technology. Arbitrum Orbit will give developers access to the full suite of Arbitrum's market-leading technology and allow them to customize it to their needs.

Arbitrum Foundation (PRNewsfoto/Arbitrum Foundation)

Arbitrum is the leading Ethereum scaling technology and the only EVM scaling solution that has fully working proofs, a critical piece of technology that allows the Arbitrum chains to derive their security from Ethereum. With the announcement of Arbitrum Orbit, developers can now easily launch their own permissionless Layer 3 blockchain leveraging Arbitrum's best-in-class technology and Ethereum's security.

Arbitrum Orbit is designed to strengthen and grow the Arbitrum ecosystem by providing a clear and simple path for not only developing new Arbitrum applications but also launching new Arbitrum chains. Developers building L3s on top of an existing Arbitrum chain are granted a free and perpetual license that also allows them to customize and modify the Arbitrum source code as they see fit. The Arbitrum DAO will have the ability to grant even more permissive licenses ensuring that the community is in full control over the future of Arbitrum and its technology.

Besides attracting new developers into the Arbitrum ecosystem, this initiative also pushes for innovation within the community, encouraging a wider variety of chains to be built with technology that's proven to have the security level of Ethereum. Arbitrum Orbit L3 chains will support the upcoming release of Arbitrum Stylus, which will allow developers to use the C, C++, and Rust programming languages for their chains, in addition to Solidity and other EVM languages.

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Steven Goldfeder, CEO and co-founder of Offchain Labs, commented on today's news: "The launch of Arbitrum Orbit marks another step in the goal of growth through ecosystem expansion by way of onboarding new developers. Arbitrum is already the technology stack of choice for Ethereum smart contract developers, but with today's announcement, developers now have another tool allowing them to not only build their own smart contracts, but to also launch their own L3 chains leveraging the best technology available. I'm excited to see the next wave of innovation that Arbitrum Orbit will enable."

Arbitrum is the leading Layer 2 (L2) scaling solution for Ethereum, and the Arbitrum One and Arbiturm Nova blockchains boast the highest Total Value Locked (TVL) across all L2 networks with approximately $3.61B, 55% market share across all rollups, and the Arbitrum One network recently surpassed Ethereum daily transactions on two occasions.

About The Arbitrum FoundationThe Arbitrum Foundation has a mission to help support and grow the Arbitrum network and its community while remaining at the forefront of blockchain adoption. The Foundation oversees the $ARB token and governance structure as well as the Arbitrum Security Council, a 12-member multisig of well regarded community members designed to ensure the security of the chains.

Media contact: Dillon Arace, arbitrumpr@mgroupsc.com

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SOURCE Arbitrum Foundation

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The Arbitrum Foundation Announces Launch of Arbitrum Orbit: Layer 3 Chains for All - Yahoo Finance