rbitrum, an Ethereum scaling solution, announced the launch of its second Ethereum Layer 2 chain, Nova, on August 9.
It is a new chain that was announced earlier this year that is primarily intended for gaming and social applications. It is the first chain established using Arbitrum's AnyTrust technology.
The chain is designed for high projects that require low-cost and high-security solutions. It claims to have granted access to more than 100 development teams. ConsenSys, FTX, Google Cloud, Offchain Labs, P2P, Quicknode, and Reddit are among the early members of the Data Availability Committee.
The deployment of Reddit's Community Points system on Nova is one of the chain's successes. This deployment currently includes two communities, but that number could grow significantly in the future. The emphasis is now on encouraging development, building out the ecosystem, and growing the user base.
Developers can start building on Nova, providing instructions for getting started. Some projects are already live on the network. FTX will also support direct chain onboarding.
In contrast, the Data Availability Committee receives transaction data first, with the data going on-chain only if the committee fails. It assumes that at least two committee members are truthful.
Arbitrum has more news planned for the coming weeks and has dubbed this month "Arbitrum August," with plans to migrate One to Nitro on Aug. 31 and Rinkeby already migrated to Nitro.
It's going to be a busy week for the project, which has seen a lot of success in recent months. Ethereum layer 2 solutions have been in the news for a variety of reasons, and Nova could usher in a new era of development on the blockchain.