Introduction to Arbitrum and the Arbitrum Technologies - Olatunji Samuel

So we'll be having a lat Samuel come to speak to us on introduction to arbitum and the arbitum technologies and why you should build on arbitum. A round of applause for him please. Thank you very much. Okay, good afternoon everyone or let me say GM because we we are web three guys. GM everyone.

Thank you so much. I am Jul and I am community admin at the Abitram Foundation. I know some of you might have seen our logo on the uh banners everywhere on at web3 Lagos conference and you wonder you're wondering what exactly is arbitrum. I know a lot of us know what arbitrum is but this morning I'm here to uh give us a little talk about arbitum and why you should build on arbitum if you're a builder if you are a creator there's space for you on arbitum all right so let me see if this works now all right the previous slide was my agenda I don't want to go over it it's just uh so let me just jump right in because because of the time so uh I'm going to be talking about a little bit of the history of arbitum where we are coming from and I think it makes sense to go from the beginning from Bitcoin where this blockchain all I mean all started where we started to know about what blockchain is and the white paper of bitcoin was launched in 2008 and then comes Ethereum which um arbitum is scaling and ethereum actually introduced programmable blockchain infrastructure where uh I mean expanding beyond simple value transfer to smart contracts. So with Ethereum we introduced to smart contracts right.

So uh in 2015 a group of students with their professor who is Ed Felton who is like an uh founder of Abitram at offchain labs were doing like a research project like a uh a project a project work final final year project work and that was where they worked on arbitum. So Abitram actually was like a final year project work in a university. So in 2017 as well the Abitram white paper was released and this is it. So what is arbitum? Basically I know a lot of us know what arbitum is but I'm just going to go over it.

Uh arbitum is a layer 2 scaling solution for Ethereum. And what that means is Ethereum needs to be scaled. Ethereum has the problem of scalability. Ethereum is secure. It is uh decentralized but is not scalable.

All right. So but what Abitum comes to do is to um scale it I mean Ethereum and make transaction cheaper and faster. That's the meaning of that. All right. So uh Abitram from 2015 where it started up it became the uh largest L2 the leading L2 among every other L2 that we know uh with the total value secured of 19.

7 billion and 5.2 billion in bridged uh capital which means that Arbitum is number one when it comes to layer 2 scaling solution. In 2021, Abitram 1 was launched and that is actually the first chain on Abitram chain and Abitram 1 is uh a rollup is build uh on a rollup based on a rollup model which rolls up transactions and submits it directly on Ethereum. So that means that transactions are now bundled up not just one transaction as it's processed on Ethereum. It means that those transaction that are bundled up can now split gas fees and then it even makes the transaction faster.

Instead of you to pay for your one transaction uh arbitrum helps to bundle it up and then process it on Ethereum at the same time making the transaction fee for those transactions split between those people. I don't know if you get what I'm saying but that is what arbitum one does. All right. So uh this is an overview of the arbitum one of arbitum one and uh some numbers that we should talk about the total value secured on arbitrum currently is about 19 billion over 19 billion as well we have uh roll up market share uh arbitum has 35% rollup market share and 2 billion plus total transactions with over 17 billion saved in gas gas fees. This means that if you if all the transactions that have been carried carried out on arbitrum one since 2022 were carried out directly on Ethereum, users would have paid $17 billion plus in gas fees.

So you see how huge that is. All right. So also over 5 billion bridge funds are on arbitum. Um I'll tell you why I'm giving you all these numbers. Uh I think this is really would this really would mean a lot to builders but it also mean a lot to everybody.

All right. It's also the largest uh L2 swap amount. I mean Abitram has the largest L2 swap amount on unis swap surpassing over $300 billion. We also have the three of the 10 largest derivative protocols on arbitum right and you also have bluechip projects like unis swap like just look at them open and also native very huge native protocols on arbitum like GMX and the likes pendu and the likes and in 2022 another chain was launched called arbitum nova and why was arbitum nova launched was because um was because of applications like games or social apps that needs high uh volume like high high frequencies. So it uses the any trust technology in uh unlike arbitron one that uses the pure rollup technology.

It uses any trust technology and instead of posting all core data to Ethereum directly, it uses uh a it relies on a uh data availability committee to store and attest to data which makes transactions even cheaper and faster on arbitrum Nova. I hope you get that. So um what this means is that um a transaction on arbitum nova are cheaper and they are even faster. So for applications like game that needs high frequency it is okay to view them on arbitum nova but what it comes with the the tradeoff here is true trustlessness because now you are not posting the call data directly on Ethereum. you are relying on the data availability committee to store and attest to the data you are sharing with on arbitron nova so just just like I said it's for basically for games game developers and uh dabs with high processing rates all right so these are like some good uh metrics that you can consider and why you should I mean differences between arbitum one and arbitum nova so you can see for gas saving On arbitum one you have 10 to 50 times cheaper gas than Ethereum layer 1.

And for arbitum nova you have it go up to 30 to 150 times. It is I mean one 30 to 150 times cheaper than in layer 1. So it's also very fast. The boots are fast. Very very fast with arbitrum one processing up to 40,000 transactions per second.

You can also see like these are games that are built very popular games. I don't know if any of us here have played any games on arbitum but you should be familiar with some of these games. All these games are built on uh arbitum nova. So why should you choose arbitum? Like I've been saying choose arbitum because of the low transaction cost because it is secured by Ethereum.

We all know how secure Ethereum is. We all know about consensus mechanism and the likes. And um it is also very uh I mean the compatibility on arbitum is really huge with I'm going to talk about stylus that brings multivvm to arbitum. So you don't have to know how to write solidity smart contract with solidity. If you know rust you can easily deploy your contract on arbitum with stylus.

So block speed on arbitum is also really fast. We have up to 280 milliseconds on I mean on on arbitum one. And how is arbitum different? It's an optimistic rollup and all transactions are considered valid. Transactions uh speed are up to 50 times faster than in L1 and you enjoy the security of Ethereum just like I said and also fraud fraud proof in place of uh from day one.

fraud proof have been in place on arbitum since the launch of arbitum one. So this was stylus that this is stylus that I've been talking about and stylus what stylus does is it helps developer who are not uh EVM based developer for example if you are a web two developer you know how to write uh code in C C++ you can come you don't need to learn solidity to deploy on arbitum all you need to do is you use stylus and then you can write your smart contracts in the languages you know like rust C and C++ recently we had a cohort with web3 bridge. Some guys are actually taking the course at web3 bridge uh a Ross cohort and they also learned how to deploy I mean how to write smart contract using rot and deploy it on arbitum with stylus. So stylus is a is a means uh it's something that brings multivvm to you to developers. So like I said it gives multiVM and in 2023 Abitram orbits was also launched and orbits what it means what it's uh all about is that it helps you launch your own custom chain.

So you may not just want to build a product on arbitum. You may say you want to build your own chain but you want it to set on arbitum. It can even set on Ethereum. You can either make it set to arbitum one or Nova or Ethereum being an L2 but you are deploying it still on arbitum. You can do that through arbitum orbit.

So it gives you your own full customization. You can customize your own gas fees. You can have your own decentralized maybe dowo for your projects for your chain. So it gives you total privacy and uh customization. All right.

I already I won't go over this because I already talked about main benefits of um arbitron orbit. It helps you to deploy your own chain. helps you to have your own uh what's it called tokenization tokconomics and so on and so forth so it's very good and this is we have a lot of uh chains building their own I mean a lot of protocols building their own orbit chains like ape like uh we have a lot of them so this is like an overview of the orbit ecosystem on arbitum all right so Robin Hood also kind of like announced recently I don't know if you know does anybody know Robin Hood okay great so uh Robin Hood announced announced recently that they would be building their own uh chain L2 chain on Abitram very soon. But now they are deployed on arbitrum one and they are uh I mean there are you can already trade about 200 plus US stocks on their platform deployed on arbitum one which is good because before now it is difficult to trade uh ETFs on on chain right but uh Robin Hood is bringing it on chain with arbitram one and they also announced that they would be launching their own uh chain very soon or chain very soon. So this is the Abitram ecosystem.

You get to see a lot of obby chains, a lot of projects. Maybe you want to use D5 projects. You want to play games onchain games. This is where you go on Abitram to find them. You can scan this QR code to get on the uh Abitram ecosystem portal or you go to portal.

ab.io. All right. So this is where you meet when you get to the portal. You'll see a lot of projects and you can also navigate your way to find whatever category that you want to find.

All right. So, governance on Abitum uh in 2023 was the bet of the Abitram DA I mean an Abitram Foundation. So, what this means is before 2023 everything that happens on Abitram was governed or was overseen by offchain labs. All right, these are the three founders of offchain labs. But in 203 they transferred their ownership of Abby one and Nova to the Abitum DAO.

So, this means that Abitram Dao has the full autonomy. I mean the full power over the arbitum chains and they are responsible for making decisions. So what do we do at Abitram Foundation? At Abitronum Foundation we serve as a neutral steward to the Abitram DAO. We make sure that whatever uh DAO decisions that the Abbitum DAO makes comes to fruition.

We make it happen at Abitram Foundation. All right. So also Abitum DAO is a sustainable ecosystem on its own. Understand the economy of the arbitum dow is very very sustainable because of st time boost also make it very sustainable because arbitum time boost demonstrate arbitum's evolution from technical protocol to self-funding economic structure and since the launch of arbitum uh since a lot of of time boost over $3 million in cumulative revenues have been generated this I can actually go on and on in in time boost to explain but because of our time just know time boost is a is a way to generate income for the Abitram DA as well.

Thank you so very much. Thank you very much.

A little bit. So, Abitram also is everywhere. We are doing events around the world as we are sponsoring web3 Legos conference right now in Nigeria. We are doing amazing events as well across the world and also you can join the Abitram uh ambassador program. There's a open house going on right now in India where developers can join builder tons and we have some people from web3 bridge on this as well.

Okay. So this is QR code if you want to learn more about open house. I'm trying to rush because of my time and um also for builders we have the arbitum bi-weekly uh newsletter where they learn about developer insights and stuff going on. So there are funding opportunities at arbitum as well for builders a lot of funding even for creators you have the Kato leader board arbitron kto leaderboard that you can yap about project and arbitum and earn. So um let me just go to the last slide I want you to see.

You can become an Abitram ambassador and what you do as an Abitram ambassador is you can lend your voice and that's where you can also get to learn more about the uh Abitram ecosystem to apply for the Abitram ambassador program. Go to arbitum.foundation/ambassador. So I'm thank you for listening. I would be taking your questions.

If you have any questions, feel free to scan the QR code and reach out to me on X or Discord. And we also have our booth outside uh that you can come up to walk up to if you have any question about arbitum. We'll be able to help you out.