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Blockchain
Altswitch is built on top of the Arbitrum One blockchain, a high-performance scaling solution for Ethereum that enables fast and low-cost transactions. A Layer 2 scaling solution, developed by Offchain Labs, designed to provide a significant increase in transaction throughput, while maintaining the security and decentralization offered by the Ethereum blockchain. By utilizing a technology called Optimistic Rollups, Arbitrum One bundles multiple transactions into a single proof that is submitted to the Ethereum mainnet, thereby reducing congestion, gas fees, and improving overall performance.
Arbitrum One offers several benefits compared to other scaling solutions:
- Increased Scalability:
- Arbitrum One enables greater transaction throughput, which helps alleviate network congestion and allows more transactions to be processed in a shorter amount of time.
- Lower Transaction Costs:
- By bundling transactions and submitting them as a single proof, Arbitrum One significantly reduces the gas fees associated with each transaction, making it more affordable for users and developers.
- Compatibility with Ethereum:
- Arbitrum One is built on top of Ethereum, allowing for seamless integration with existing Ethereum-based applications and infrastructure, as well as providing a familiar environment for developers.
- Enhanced Security:
- By leveraging the security of the Ethereum mainnet, Arbitrum One ensures that the Layer 2 network is protected against attacks and vulnerabilities, while maintaining decentralization.
- Flexible Smart Contracts:
- Arbitrum One supports the Ethereum Virtual Machine (EVM), which allows developers to write and deploy smart contracts using familiar programming languages and tools, while benefiting from the improved performance and cost-efficiency of the Layer 2 solution.
Altswitch's blockchain architecture leverages Arbitrum One's capabilities to provide a decentralized and secure platform for its ecosystem of apps and services. As development progresses, Altswitch plans to expand its reach by working with multiple blockchains.
Last modified 7mo ago