{"id":352873,"date":"2024-07-26T21:07:40","date_gmt":"2024-07-26T15:37:40","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=352873"},"modified":"2024-07-26T21:07:40","modified_gmt":"2024-07-26T15:37:40","slug":"arbitrum-proposes-expanding-orbit-chain-beyond-ethereum-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/arbitrum-proposes-expanding-orbit-chain-beyond-ethereum-crypto-news\/","title":{"rendered":"Arbitrum proposes expanding Orbit Chain beyond Ethereum – Crypto News"},"content":{"rendered":"
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Arbitrum\u2019s<\/a> Decentralized Autonomous Organization (DAO) is reviewing a proposal to expand the network\u2019s Orbit Chain to other blockchains beyond Ethereum<\/a>.<\/p>\n

Expansion program<\/span><\/p>\n

In January, the Arbitrum Foundation introduced the Arbitrum Expansion program to extend its Orbit Chain to other Ethereum-based chains.<\/p>\n

The program allowed crypto projects to fork the Arbitrum codebase and tailor it to their business needs while sharing 10% of their profits with the broader Arbitrum ecosystem. These chains have gained significant adoption in recent months as they enable the development of highly customizable throughput and governance-enabled networks.<\/p>\n

So, due to this growing demand, the Foundation proposed expanding the Orbit Chain to non-Ethereum networks. It stated:<\/p>\n

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\u201cOver the past few weeks, the Arbitrum Foundation has received inbound interest from projects that want to deploy their own Orbit chain on other networks including, but not limited to: Bitcoin, Binance Smart Chain, Cosmos, and others.\u201d<\/p>\n<\/blockquote>\n

The Foundation expects this interest to continue growing, especially as the Arbitrum Tech Stack gains popularity on Ethereum.<\/p>\n

Community supports move<\/span><\/p>\n

Early feedback shows strong community support, with 99.8% of the over 14 million ARB token votes in the \u201ctemperature check<\/a>\u201d favoring the proposal. The voting will conclude on July 31.<\/p>\n

The community\u2019s backing is tied to the numerous benefits the Arbitrum Foundation claims the expansion will bring to the ecosystem.<\/p>\n

The Foundation stated that expanding Orbit deployments could boost ArbitrumDAO\u2019s revenue and enhance the dominance of Ethereum Virtual Machines (EVM) and Stylus (EVM+).<\/p>\n

The Foundation also noted that limiting Orbit chains to only Ethereum might hinder the adoption of the Arbitrum Tech Stack because other rollups continue to deploy freely.<\/p>\n

Arbitrum is one of Ethereum\u2019s most extensive layer-2 scaling solutions with a total value locked (TVL) of $3.1 billion, according to DeFiLlama<\/a> data.<\/p>\n

Mentioned in this article<\/h6>\n
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Latest Alpha<\/span> Market Report<\/h6>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Arbitrum\u2019s Decentralized Autonomous Organization (DAO) is reviewing a proposal to expand the network\u2019s Orbit Chain to other blockchains beyond Ethereum. Expansion program In January, the Arbitrum Foundation introduced the Arbitrum Expansion program to extend its Orbit Chain to other Ethereum-based chains. The program allowed crypto projects to fork the Arbitrum codebase and tailor it to […]<\/p>\n","protected":false},"author":2,"featured_media":352881,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-352873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/352873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=352873"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/352873\/revisions"}],"predecessor-version":[{"id":352883,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/352873\/revisions\/352883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/352881"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=352873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=352873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=352873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}