Ethereum scaling solution Arbitrum passes improvement proposal AIP-2 – FXStreet

0

Ekta Mourya Ekta Mourya
FXStreet

Arbitrum, a suite of Ethereum scaling solutions, has officially announced that AIP-2 was passed by the community. The protocol attempts to scale the Ethereum blockchain, and with its new update it addresses user concerns surrounding smart contract wallet usage and gas fees.
Also read: Arbitrum unlocks Layer 3 chains as Ethereum Layer 2 wars intensify
Arbitrum has officially launched an Arbitrum Improvement Proposal (AIP-2) tackling several user experience level challenges for market participants. Three key concerns of users are wallet recovery, payment of gas fees and bundling transactions together.
AIP-2 tackles these challenges and provides the desired benefit to users through social recovery, payment of gas fees through any ERC-20 token (not just Ether) and more control over batched transactions through session keys. 
Arbitrum Improvement Proposal #2 has officially passed

AIP-2 improves support for Account Abstraction, making development around Smart Contract Wallets easier than ever.

The frontier of improving web3’s UX starts here, so let’s explore some use cases pic.twitter.com/GfBd4rmN0Y
The Total Value of Assets Locked (TVL) in the Arbitrum network surpassed $2.747 billion, according to DeFi intelligence tracker DeFiLlama. During previous launches and releases from Arbitrum developers Offchain Labs, there has been a notable increase in the TVL and ARB price. 
ARB/USDT one-day price chart on Binance
ARB/USDT one-day price chart on Binance 
If history repeats, it is typical for Arbitrum price to climb in response to an AIP-2 approval by the community. At the time of writing, ARB price trades at $1.266 against USDT on Binance. The Ethereum scaling token is up 11.46% between June 21 and early on Friday. It is likely that ARB price rallies in the short term, yielding further gains for holders.
Like this article? Help us with some feedback by answering this survey:

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Join Telegram
Join Telegram
Terra Luna Classic (LUNC) price is trading with a bearish bias, an action heavily attributed to recent developments within the Terraform Labs ecosystem.
Shiba Inu's price, for the most part of this month, has barely made any significant movement. The meme coin continues to disappoint investors, who are also failing to trigger significant change in the price action with their efforts.
US House Republicans have introduced a new Bill, providing a clear path for exchange registration with the SEC and CFTC. The bill seeks to amend US securities laws and compel SEC to consider “innovation” as a factor when issuing new rules.
Chainlink price rise led the crypto market gains on Thursday as the altcoin found sudden optimism from its investors. Chainlink price could be seen trading at $8.2 after noting a near 20% rally in the span of 24 hours, up from $6.9. 
Bitcoin price has been consolidating for nearly a month and shows no signs of a breakout move. While the short-term noise might be easy to predict, the long-term outlook is interesting considering the opportunities surrounding a potential approval of a Bitcoin spot ETF. 
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and omissions may occur. Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, clients or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

source

Leave a Reply

Your email address will not be published. Required fields are marked *