September = Upgrades. Ethereum layer-2 scaling solution Arbitrum is undergoing a major upgrade on Aug. 31 — set to increase transaction speeds and further cut fees.
Offchain Labs also updated its ArbOS component, which is now rewritten in the software programming language Go. The new version will improve cross-chain communication between Arbitrum and Ethereum, as well as transaction batching and data compression, which will in turn minimize costs on the Ethereum mainnet.
The document also stated that the state of Arbitrum One “will be migrated seamlessly” on to Nitro, which should, if executed correctly, rule out any possibility of a chain split.Offchain Labs said the Arbitrum Nitro upgrade would be “the most advanced Ethereum scaling stack” and that “Nitro will massively increase network capacity and reduce transaction costs,” stating:
“Today, we throttle Arbitrum’s capacity, but with Nitro we’ll be able to release those controls and significantly up our throughput. And while Arbitrum today is already 90–95% cheaper than Ethereum on average, Nitro cuts our costs even further.”has $936 million total value locked on the network spread across 111 different protocols, with GMX, Stargate, Curve and Uniswap among the most popular applications.
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