ARB Live Price

Arbitrum serves as a rollup chain designed to enhance Ethereum's scalability. Its approach involves consolidating multiple transactions into a single transaction, effectively alleviating the burden on the Ethereum network. In straightforward terms, a rollup chain operates as a layer 2 solution, processing and aggregating transactions off-chain before submitting a consolidated transaction to the Ethereum mainnet. This mechanism enables users to experience quicker and more cost-effective transactions while still benefiting from the security and decentralization features of the Ethereum network.
The native token of Arbitrum, known as the Arbitrum token (ARB), plays a crucial role in the ecosystem. ARB is utilized for covering transaction fees on the Arbitrum network and also functions as a governance tool for the protocol. ARB holders can actively engage in decision-making processes, including proposing and voting on protocol upgrades or modifications.
Arbitrum, as a rollup chain, offers a solution for faster and more economical transactions on the Ethereum network, with its native token, ARB, serving dual purposes in transaction fees and governance. Given the escalating demand for Ethereum-based applications and transactions, rollup chains like Arbitrum are increasingly vital for addressing and enhancing the network's scalability.