Arbitrum aspires to scale Ethereum while maintaining a secure and decentralized system. Developed by Offchain Labs, Arbitrum significantly reduces gas costs and enhances the performance of Ethereum applications by utilizing its unique Rollup technology. This technology aggregates multiple transactions into a single proof, which can be verified on the Ethereum blockchain, thus improving efficiency and reducing fees.
The ARB token is used for governance decisions, including the allocation of funds and technical changes. ARB token holders can also vote on electing members for the Security Council, a team responsible for Arbitrum's treasury wallet.
As of now, Arbitrum has successfully launched its Arbitrum Orbit. Arbitrum Orbit is a tool that enables its users to build layer-3 blockchains that settle onto one of Arbitrum’s layer-2 chains: Arbitrum One or Arbitrum Nova. Celestia is a modular data availability layer. Now that it will be integrated with Arbitrum’s Nitro stack, projects that have been built using Arbitrum Orbit will have the additional option to publish data onto Celestia.