Arbitrum Foundation Proposes Expansion Program Adjustment To Enable Deployment Of New Orbit Chains Across Networks Beyond Ethereum
In Brief
Arbitrum unveiled a community proposal seeking feedback regarding modifications to its “Arbitrum Expansion Program.”
Layer 2 scaling solution for the Ethereum blockchain, Arbitrum unveiled a community proposal soliciting feedback regarding potential modifications to its blockchain expansion strategy, known as the “Arbitrum Expansion Program.” The proposal aims to explore the possibility of deploying Orbit chains on networks beyond Ethereum.
Over the past month, Arbitrum Foundation, the driving force behind the development of Arbitrum, has been approached by various ecosystem projects operating on networks such as Cosmos, BNB Chain, and Bitcoin, expressing interest in deploying Orbit chains on alternative networks. Consequently, the Arbitrum DAO was tasked with deliberating on whether to grant permission for such deployments.
If approved, the Arbitrum Foundation will oversee the collection of 10% of the profit generated on the new blockchain, with plans to eventually transfer these funds to the Arbitrum DAO treasury and the Arbitrum Protocol Guild.
In conjunction with the proposal, three governance conference calls were slated to take place at 10:00 UTC on April 22nd, at 16:00 UTC on April 26th, and at 20:00 UTC on April 30th. After these discussions, a snapshot will be captured, and the votes will be categorized into two groups, including “any blockchain” and “only Ethereum Layer 1.”
What is Arbitrum Expansion Program?
Arbitrum Orbit presents a decentralized way for launching tailored blockchains employing Arbitrum technology. These Orbit Chains can function as either Layer 2 blockchains, settling directly onto Ethereum, or Layer 3 blockchains, capable of settling onto any Ethereum Layer 2, like Arbitrum One.
Arbitrum introduced an Arbitrum Orbit expansion initiative earlier this year, offering a self-service route to deploy custom Layer 2 or Layer 3 Orbit blockchains on Ethereum. Through this program’s profit-sharing framework, the Orbit chain possesses the capability to create customized blockchains that settle directly onto Ethereum or other Ethereum Layer 2 scaling solutions, including optimistic rollups, ZK-rollups, optimiums, and validiums.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
