In Brief:
- Blockchain analytics platform, Nansen will now support Arbitrum.
- Nansen also supports Ethereum, Polygon, Binance Smart Chain (BSC), Fantom, and Solana currently.
- Nansen claims that layer-2 protocols like Arbitrum have the potential to become market leaders in Ethereum scalability.
Nansen, a blockchain analytics platform, has announced through a tweet on 24th November that they will now support the Arbitrum network.
This would offer global users, both retail and institutional, the capacity to spot developing patterns in the decentralized finance (DeFi) market.
Nansen now supports Ethereum, Polygon, Binance Smart Chain (BSC), Fantom, and Solana, with a Solana integration expected in early 2022.
An Arbitrum dashboard will provide technical charts and quantitative data, such as the more than 100 million data points collected across Ethereum, Polygon, and Binance Smart Chain.
Smart Money is one of Nansen’s products which tracks the wallet addresses of hedge funds, institutional investors, and whales, compiling their activity into a visual chart that allows users to see technical patterns. NFT Paradise and Mint Master are two more platform features that provide insight into developing non-fungible tokens (NFT).
The Nansen team released a research paper in conjunction with this revelation, claiming that layer-2 protocols like Arbitrum have the potential to become market leaders in Ethereum scalability over the next five years.
It also mentioned: “Scaling is not enough. While increasing their transactional throughput, blockchains must preserve two fundamental properties of blockchain technology: decentralization and security. This is known as the blockchain trilemma. As of today, the only Ethereum scaling solution that satisfies all three elements is rollups like Arbitrum.”
Arbitrum according to DeFi Llama’s analytical data, One mainnet released its rollup solution into the public realm on September 1 and has since risen to popularity with over $2.38 billion in total value locked (TVL).
Likewise, just last week, Arbitrum announced its collaboration with Binance and this helped Binance users to use Arbitrum to deposit their ERC-20 tokens at a lower cost and in real time.Â
