The Arbitrum Foundation is a non-profit organization that aims to promote and develop the Arbitrum technology, which is a layer 2 scaling solution for Ethereum. The foundation was established in 2020 by Offchain Labs, the team behind the development of Arbitrum.
What is Arbitrum?
Arbitrum is a layer 2 scaling solution for Ethereum that aims to improve the scalability and performance of the Ethereum network. It uses a technology called Optimistic Rollup, which allows for faster and cheaper transactions while still maintaining the same level of security as the Ethereum network.
Optimistic Rollup is a layer 2 scaling solution that works by aggregating multiple transactions into a single batch, which is then verified on the Ethereum network. This allows for faster and cheaper transactions, as the majority of the computational work is done off-chain. However, if any fraudulent activity is detected, the transactions can be rolled back to their original state.
The Role of the Arbitrum Foundation
The Arbitrum Foundation was established to promote and develop the Arbitrum technology, as well as to support the community of developers and users who are building on top of it. The foundation aims to provide resources, education, and support to anyone who is interested in using or developing on the Arbitrum network.
One of the main goals of the Arbitrum Foundation is to ensure that the Arbitrum network remains decentralized and secure. To achieve this, the foundation is working on developing a governance model that will allow for community involvement in the decision-making process.