NEW YORK – 16/03/2024 – (SeaPRwire) – In an industry where evolution is constant, Offchain Labs, the pioneering force behind Arbitrum’s Layer 2 (L2) scaling solution, has once again set a benchmark with the release of ArbOS 20, aptly named “Atlas.” This operating system upgrade heralds a new era for the Arbitrum network, significantly enhancing its capability by integrating Ethereum Dencun support across all Arbitrum chains. This monumental update stands to not only lower operational costs but also to usher in a host of new applications and use cases, particularly in sectors characterized by a high volume of transactions, such as Gaming, SocialFi, and DeFi exchanges.
With Atlas, Offchain Labs introduces a paradigm shift in Ethereum L2 transaction economics. The upgrade allows for the posting of user transactions as Blobs—a new transaction format that significantly reduces the costs associated with these transactions. Atlas also integrates new storage opcodes for more cost-effective transient data handling and optimizes memory copying processes. Furthermore, it brings support for EIP-6780, ensuring that Arbitrum remains aligned with Ethereum Virtual Machine’s (EVM) security standards and lays the foundation for future enhancements to EVM compatibility.
Steven Goldfeder, CEO and Co-Founder of Offchain Labs, expressed his enthusiasm about the upgrade, “The decision by the Arbitrum DAO to move forward with the ArbOS Atlas upgrade is a testament to our community’s commitment to innovation and improvement. This upgrade not only reflects our mission to scale Ethereum for broader, more practical use but also marks a significant step forward in making the platform more accessible to the native crypto community and beyond.”
Atlas also brings a reduction in both L1 posting fees, via EIP-4844, and the base fees for L2 transactions. Specifically, the L1 surplus fee per byte will drop from 2 gwei to 0, and the L2 minimum base fee will decrease from 0.1 gwei to 0.01 gwei. These changes require no action from users or developers to take effect, with the cost reductions related to EIP-4844 set to go live on March 14, and additional fee reductions following closely behind on March 18.
At the forefront of adopting the Atlas upgrade, Arbitrum RaaS providers including Altlayer, Caldera, Conduit, and Gelato have committed to upgrading existing Orbit chains. These providers are eager to support the transition, ensuring all stakeholders can enjoy the benefits of the Atlas upgrade if they opt to do so.
Applications operating on the Arbitrum network will seamlessly benefit from the cost reductions afforded by EIP-4844, part of the Ethereum Dencun upgrade that introduces blob-carrying transactions. This key feature is designed to reduce L2 transaction costs across the network. Additionally, while DAO-governed chains will apply ArbOS Atlas directly, Orbit chains can independently deploy the upgrade outside the Arbitrum DAO governance process, enjoying the cost benefits and other features offered by Atlas. The capacity for self-governed Orbit L2 chains to adopt ArbOS Atlas at their discretion highlights the flexibility and autonomy encouraged by the Arbitrum Expansion Program.
Representatives from AltLayer, Gelato, and Caldera shared their perspectives on the Atlas upgrade. Yaoqi Jia, CEO of AltLayer, highlighted the importance of cost-effective transactions for attracting widespread adoption of rollups, stating, “Atlas promises to enhance the economic efficiency of transactions on Arbitrum, a critical factor in driving broader adoption of rollup technology.” Luis Schliesske, Founder of Gelato, emphasized the upgrade’s anticipated impact on scalability, throughput, and the staking experience on Orbit rollups. Meanwhile, Matt Katz, CEO of Caldera, expressed excitement about the new possibilities enabled by more affordable Ethereum-native data availability, anticipating innovations spurred by the upgrade.
About Offchain Labs:
Founded in Princeton and backed by venture capital, Offchain Labs has dedicated over five years to blockchain research and development, playing a pivotal role in the inception and growth of Arbitrum as a leading network scaling solution. The team continues to innovate, developing advanced products like Prysm, Arbitrum Orbit, Stylus, and Arbitrum Nitro. The acquisition of Prysmatic Labs in October 2022, a leading consensus client for Ethereum, further solidifies Offchain Labs’ commitment to Ethereum’s future.
SOURCE Offchain Labs
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