Arbitrum Devs Release Orbit Framework In Push For Ethereum L3’s
Arbitrum development team Offchain Labs tweeted today that it has released the Orbit framework to make it easier for developers to build applications. Orbit is a development framework for creating and launching layer-3 (L3) networks. Via Twitter, Offchain Labs announced:
Today, we’re releasing tooling that will make building your own Arbitrum Orbit chain easier than ever. To start, we’re providing a quickstart guide & tools to help you with building your Orbit DevNet chain!
Why Are L3’s Needed On Arbitrum?
Layer-3 networks are often referred to as AppChains. These are specialized networks that host a single distributed application. They are secured by layer-2 networks and take on the security guarantees of an underlying layer-1 Ethereum network.
With Arbitrum Orbit, developers can create their own dedicated chains that connect to one of Arbitrum’s layer-2 (L2) chains: Arbitrum One, Arbitrum Nova, or Arbitrum Goerli. The advantage of the dedicated AppChains is that developers can customize privacy, permissions, fee tokens, governance, and more for their Orbit chain.
However, Orbit is not limited to apps. The framework can also be used to create L3’s to host EVM-compatible smart contracts using a self-managed infrastructure that isolates computing and storage resources from Arbitrum’s public L2 chains.
Examples of opportunities include a decentralized blockchain network powered by Nitro that benefits from Nitro’s fraud proofs, advanced compression, EVM+ compatibility via Stylus and continuous improvements. Moreover, Orbit Chains can offer reliable gas prices to their users thanks to dedicated throughput and traffic isolation.
Orbit Chains can also be used to control permissions. This means that L3’s can define who can read their chain’s data and who can use smart contracts on their chain. Ultimately, Orbit Chains can be used to create chains that are precisely tailored to a specific use case or particular business requirements.
ARB Price – Down Or Up?
Like the entire crypto market, the ARB price has seen a bounce in recent days due to Bitcoin news surrounding BlackRock. However, unlike Bitcoin, the vast majority of altcoins are yet to overcome critical resistance levels before the yearly highs are within reach.
In the 1-day chart, the ARB price has initially failed to overcome the important resistance at $1.15. Moreover, a retest of the descending trend line can currently be observed. Thus, ARB is facing a crucial moment. If the breakout above $1.15 succeeds, the price level around $1.28 becomes possible. If a rejection occurs, a renewed fall towards $1.03 may follow.
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Arbitrum Devs Release Orbit Framework In Push For Ethereum L3’s
Arbitrum development team Offchain Labs tweeted today that it has released the Orbit framework to make it easier for developers to build applications. Orbit is a development framework for creating and launching layer-3 (L3) networks. Via Twitter, Offchain Labs announced:
Today, we’re releasing tooling that will make building your own Arbitrum Orbit chain easier than ever. To start, we’re providing a quickstart guide & tools to help you with building your Orbit DevNet chain!
Why Are L3’s Needed On Arbitrum?
Layer-3 networks are often referred to as AppChains. These are specialized networks that host a single distributed application. They are secured by layer-2 networks and take on the security guarantees of an underlying layer-1 Ethereum network.
With Arbitrum Orbit, developers can create their own dedicated chains that connect to one of Arbitrum’s layer-2 (L2) chains: Arbitrum One, Arbitrum Nova, or Arbitrum Goerli. The advantage of the dedicated AppChains is that developers can customize privacy, permissions, fee tokens, governance, and more for their Orbit chain.
However, Orbit is not limited to apps. The framework can also be used to create L3’s to host EVM-compatible smart contracts using a self-managed infrastructure that isolates computing and storage resources from Arbitrum’s public L2 chains.
Examples of opportunities include a decentralized blockchain network powered by Nitro that benefits from Nitro’s fraud proofs, advanced compression, EVM+ compatibility via Stylus and continuous improvements. Moreover, Orbit Chains can offer reliable gas prices to their users thanks to dedicated throughput and traffic isolation.
Orbit Chains can also be used to control permissions. This means that L3’s can define who can read their chain’s data and who can use smart contracts on their chain. Ultimately, Orbit Chains can be used to create chains that are precisely tailored to a specific use case or particular business requirements.
ARB Price – Down Or Up?
Like the entire crypto market, the ARB price has seen a bounce in recent days due to Bitcoin news surrounding BlackRock. However, unlike Bitcoin, the vast majority of altcoins are yet to overcome critical resistance levels before the yearly highs are within reach.
In the 1-day chart, the ARB price has initially failed to overcome the important resistance at $1.15. Moreover, a retest of the descending trend line can currently be observed. Thus, ARB is facing a crucial moment. If the breakout above $1.15 succeeds, the price level around $1.28 becomes possible. If a rejection occurs, a renewed fall towards $1.03 may follow.
Read More