The official declare for the token went dwell on the Ethereum block peak of 16,890,400 at 13:05 UTC. The declare web site went down below heavy visitors, as did the blockchain’s block explorer. Arbitrum, which began working in 2021, is the biggest layer 2 blockchain on Ethereum, attaining scalability through the use of a way referred to as transaction rollups, which sends batches of transactions to the Ethereum mainnet.