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DeFi News

Arbitrum Unveils Plan for Creation of Custom Orbit Chains

The distinctive feature of Arbitrum Orbit lies in the autonomy it grants to these chains over their governance.

Written By Dishita Malvania
Published January 19, 2024 11:57 AM
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Arbitrum Unveils Plan for Creation of Custom Orbit Chains

Arbitrum Foundation and Offchain Labs have recently introduced a groundbreaking initiative, unveiling the Arbitrum extension plan and the Arbitrum Developer Association. This strategic program is designed to offer a more user-friendly avenue for teams keen on launching projects using the Arbitrum technology chain.

It enables them to participate in the extension plan and establish tailored Arbitrum Orbit chains. Essentially, this means that any project can deploy its own personalized version of the Arbitrum technology stack.

The distinctive feature of Arbitrum Orbit lies in the autonomy it grants to these chains over their governance. Unlike other chains, they won’t need to outsource governance or share it with other chains and ecosystems. This program empowers teams to freely customize and innovate according to their needs.

To partake in the Arbitrum extension plan, teams are required to contribute a portion of their profits back to the Arbitrum ecosystem. Additionally, the deployed Rollup must exclusively depend on the Ethereum chain or a chain secured by Ethereum.

The introduction of the Arbitrum Developer Association represents a fresh initiative aimed at supporting the core development of Arbitrum and attracting top-tier development teams to contribute to the technology stack.

This initiative is anticipated to fortify the Ethereum ecosystem further, enabling any team desiring to launch L2 or L3 in the Ethereum environment to leverage Arbitrum’s advanced technology.

Also Read: Arbitrum Orbit Introduces ERC-20 Tokens for Transaction Fees

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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