- Arbitrum announced the launch of their fraud proof technology more than 2 years ago in 2021. However, not many people are using it.
- But, the network is still launching new upgrades to the technology.
Arbitrum is one of the upcoming crypto protocols with a huge following. However, one of their top executives pointed out some issues with their network. One of their top technologies, fraud proof, lacks usage.
Arbitrum Fraud Proof Technology Unused After Unveiling
- New information leaves the Arbitrum community bewildered over how things work in their ecosystem. According to a new report from Offchain Labs co-founder Ed Felten, the Arbitrum fraud proof technology remains idle after over two years of its launch. So, there were one or two fraud challenges submitted on a version of Arbitrum running on the Ethereum proof-of-work fork. Reports show that the two fraud challenges received defeats.
- Arbitrum launched its mainnet with the built-in security feature in August 2021. So, this in-built security feature was fraud proof technology. The Arbitrum ecosystem is yet to use this technology despite its unveiling more than two years ago. Furthermore, Ed Felten, co-founder and chief scientist of the Arbitrum-building Offchain Labs, confirmed the lack of use for the technology. What could be the problem with fraud-proof technology?
How Does the Arbitrum Fraud Proof Technology Work?
- This form of technology from Arbitrum involves multi-round fraud proofs. So, the work of this technology is basically to stop a fraudulent validator’s stake from being successful. To achieve this purpose, it allows a layer-1 verifier contract to decide whether the challenger’s fraud-proof submission is valid. Furthermore, the most basic thing to note about this is that this technology helps to stop fraud.
- It works by challenging validators when they consider another validator for validating transactions fraudulently. However, the one Arbitrum is using has yet to see any activity or usage from the ecosystem.
Arbitrum Rolling Out New Technologies Despite Lack of Interest
- It is evident that Arbitrum is not considering what is happening in its ecosystem. So, they have more interest in making improvements to their already existing projects. Felten said Arbitrum will roll out a new iteration of the fraud proofs called the “BOLD” protocol. So, he says that this new rollout will provide a faster guarantee for challenges.
- According to the official announcement from the Offchain Twitter (now X) account, they confirmed the rollout date back then. So, the occurrence of the event was on the 4th of August, 2023. One of the features that came with this rollout was the permissionless feature. Therefore, anyone can push towards ensuring the correctness of the chain when challenges are made.
Conclusion
According to new observations from Ed Felten, co-founder and chief scientist of the Arbitrum-building Offchain Labs, some things aren’t going right with the network. So, after more than two years of unveiling their fraud proof technology, it is yet to see any usage. Arbitrum is still launching improvements to the technology, despite the lack of use.
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The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company
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