The following are the top 5 projects built on the Arbitrum ecosystem:
Arbitrum is a suite of scaling solutions on the Ethereum blockchain that uses Optimistic Rollup. Arbitrum is a Layer-2 blockchain built on top of Ethereum's main blockchain network to address scalability, and lower transaction costs.
Arbitrum has two chains, namely Arbitrum One and Arbitrum Nova. Currently most of the major applications currently reside on Arbitrum One, with its decentralized finance (DeFi) protocol. Arbitrum Nova is the lite version of Arbitrum One, Arbitrum Nova offers low costs and is suitable for running high volume applications such as games and social media. However, Arbitrum Nova has a lower level of security compared to Arbitrum One. The following are the top 5 projects built on the Arbitrum ecosystem:
1. Kunji Finance
Kunji Finance is a Decentralized Finance (DeFi) platform that has just received an injection of funding from the Arbitrum Foundation. This injection of funds will be used to develop the Kunji Finance platform to attract more users.
Kunji Finance is a platform that makes it easy for users to copy professional traders' portfolios, and makes investment decision making easier.
2. AOFverse
AOFverse is the first mobile blockchain game with an adventure and exploration genre in the metaverse. This game was developed by AOFverse, a mobile game studio based in Singapore.
AOFverse is built on the Arbitrum network, which is Ethereum's Layer-2 blockchain. Arbitrum's advantages, offering scalability and lower transaction fees compared to Ethereum, make it an ideal choice for blockchain gaming.
3. Seneca Protocol
Seneca Protocol is a Decentralized Finance (DeFi) protocol that allows users to borrow the SenUSD stablecoin using crypto assets as collateral.
Seneca Protocol uses Collateralized Debt Position (CDP) technology. CDP is a smart contract that allows users to borrow funds using crypto assets as collateral
4. World Store
World Store is an NFT marketplace built on the Arbitrum network, which allows users to buy and sell NFTs, including virtual goods, artwork, and other collectibles.
As one of the most popular NFT marketplaces in the Arbitrum ecosystem, World Store has managed to attract more than 100,000 users and reach more than $1 billion in trading volume. World Store's security and scalability are enhanced through the use of rollup technology, which processes transactions outside of Ethereum's main blockchain to reduce costs and increase speed. The marketplace supports various types of NFTs, including ERC-721, ERC-1155, and ERC-20.
5. Parallel Network
Parallel Network is a layer-2 network built on Arbitrum technically this Parallel network is a layer-3 blockchain. The network is designed to increase Arbitrum's scalability and efficiency by enabling faster and cheaper transactions.
Parallel Network uses rollup technology to process transactions outside the Ethereum main chain. Apart from that, Parallel Network offers several advantages compared to other blockchains
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