As a researcher with a keen interest in blockchain technology and artificial intelligence, I must admit that the recent milestone achieved by Arbitrum One is nothing short of impressive. Having closely followed the development of layer-2 platforms, I have witnessed the challenges they’ve faced and the progress they’ve made. To see Arbitrum reach $20 billion in TVL is a testament to their innovative spirit and relentless pursuit of scalability.
The cryptocurrency network Arbitrum shared via its official channel that the overall worth secured within its layer-2 system surpassed $20 billion.
On X’s post dated December 3, Arbitrum asserted that the initial layer-2 platform might amass a total value of $20 billion or potentially surge by double digits, translating to an increase of approximately 14.2%.
Arbitrum One has made history as the first Layer 2 platform to reach a TVL (Total Value Locked) of $20 billion! This achievement is a testament to our collective innovation efforts. With the expansion of Stage 2 horizon and growth across all sectors, the possibilities for our ecosystem’s growth are limitless. Let’s keep pushing forward!
Arbitrum mentioned on the post.
Based on L2Beat’s information, Arbitrum One has reached a TVL (Total Value Locked) of $20 billion. This figure includes $6.64 billion in canonical assets, $5.32 billion in external assets, and $8.12 billion in native assets. This significant achievement positions Arbitrum One ahead of its competitors, such as Base with $12.4 billion, Optimistic Mainnet with $8.56 billion, and Blast with $1.55 billion.
On this particular platform, Arbitrum (ARB) boasts the highest amount of natively-minted assets at approximately $4.3 billion, trailed closely by USD Coin (USDC) with a value of about $2.2 billion.
The second phase of Arbitrum One continues with certain fixes required. These include ensuring the submissions are fraud-resistant, handling upgrades that do not involve the blockchain, and addressing actions by the security council, which extends beyond the blockchain.
Arbitrum boosting AI growth
The Arbitrum Foundation actively encourages growth in the artificial intelligence (AI) sector, offering one method being a $1 million grant to the Arbitrum Network. This particular initiative, known as the Trailblazer AI Grant, is specifically designed for developers and creators who are passionate about constructing AI agents within the Ethereum layer-2.
This AI aids in deploying numerous apps onto Arbitrum, offering a platform for users to delve into projects varying from Non-Fungible Tokens (NFT) to ERC20 tokens. Eligible projects will be granted a $10,000 incentive as reward.
Additionally, implementing artificial intelligence on Arbitrum has the power to unleash the capabilities of layer 2 solutions.
Read More
- Crypto ETPs hit $44.5b in YTD inflows amid Bitcoin surge
- AI16Z PREDICTION. AI16Z cryptocurrency
- A Palace x Nike Air Max DN8 Collab Is Rumored for 2025
- Amy Adams’ Nightbitch Has A Scene That Was So Disgusting, Crew Members Had To Leave The Room While They Filmed It
- Hong Kong Treasury says crypto is not a ‘target asset’ for its Exchange Fund
- Felicity Jones Has a Fresh (and Minimalist) Take on Method Dressing Trend at ‘The Brutalist’ Premiere
- Li Haslett Chen to Leave Warner Bros. Discovery Board
- The Best Fashion Audiobooks on Audible for Aspiring Stylists, Hypebeasts and Everyone In Between
- When Dharmendra said Sunny Deol and Bobby Deol didn’t have affairs with heroines and were ‘innocent’, recalls Gadar 2 director Anil Sharma
- Smino and Samara Cyn To Hit the Road on ‘Kountry Kousins’ Tour
2024-12-04 10:16