A new and significant hack on a bridge system is just another problem in the string of problems affecting the crypto world this month. AFX Trade, which runs on Arbitrum, lost $24.15 million worth of USDC. Attackers exploited AFX’s bridge, and several blockchain security firms detected the attack almost immediately.
Arbitrum has generated a new stream of revenue post-launch of the public mainnet of the Robinhood Chain using their Layer-2 blockchain technology. Co-founder of Offchain Labs, Steven Goldfeder, clarified that Robinhood Chain and other qualified Layer-2 networks using Arbitrum technology will be receiving protocol revenue. Ten percent of the protocol’s
Layer 2 scaling solutions, like Polygon, Arbitrum, and Optimism, are improving different aspects of L1 blockchains, including decentralization, security, and interoperability. Meanwhile, Layer 3 networks, with their application-specific paradigm, are customizing trends and progress in the broader blockchain ecosystem. New paradigms and decentralized applications (dApps) are continually emerging in this
