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With the ARB airdrop imminent, people are starting to pay close attention to the Arbitrum ecosystem. Today, we take a look at one of Arbitrum’s main products — the gaming and social-focused Arbitrum Nova chain.Many people have heard of Arbitrum One, but not many interpretations of Arbitrum Nova.The purpose of this derivative L2 is to simplify transaction-heavy Web3 games and social applications.
In this article, we will give newcomers a taste of Arbitrum Nova.Last week, Arbitrum officially launched its long-awaited governance token, ARB, which will go live on March 23.
The ARB will be used to manage the Arbitrum ecosystem, including Arbitrum One and Arbitrum Nova, as well as other Arbitrum chains. Considering that the Arbitrrum ecosystem is just starting to develop, the first building block at its multi-rollup core - Arbitrum Nova - will thrive and spawn a wealth of opportunity.
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What is Arbitrum Nova?In June 2022, Arbitrum launched Arbitrum Nova, a new L2 rollup based on its AnyTrust technology optimized for ultra-low-cost transactions and strong security guarantees.
Since August 2022, Arbitrrum Nova has exclusively served to facilitate gaming and social applications, while the popular Arbitrrum One L2 continues to broadly support DeFi and NFT projects.The key difference between Arbitrum Nova and Arbitrum One is how transaction data is handled.
This DAC approach makes Arbitrum Nova ideal for projects with high transaction volume expectations, such as games where new items are frequently crafted or social platforms with multiple on-chain interactions. Additionally, the creators of L2 plan to implement more improvements to further reduce transaction costs.
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Arbitrum Nova current on-chain activity
According to scaling solutions analytics service L2B EAT.io, Arbitrum Nova is currently the 15th largest L2 in the cryptoeconomy with a total value locked (TVL) of $10.5 million. Of course, the scale pales in comparison to Arbitrum One. Arbitrum One is by far the largest L2, with a TVL of $3.85 billion, but Arbitrum Nova's 1 million transactions in the past month should not be underestimated.So if you need to do any Swap on L2, then Sushiswap is your main starting point right now. Today, however, Nova's most interesting narrative is its games and social app upstarts' continued rise. For example, social news aggregation giant Reddit is transitioning its community points system to Nova.
Source: via llama.fi
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Find Apps Using the Arbitrum Nova Portal
If you are interested in discovering and searching for a range of applications currently being built on Arbitrum Nova, the Arbitrum Nova Portal is a great ecosystem resource. It shows potential projects currently available or in development across all major cryptocurrency categories, from cross-chain bridges to wallets.
Through this portal, we can easily identify early games and social apps that have or are building stores on Nova.
Currently, these applications include:
Battle for Goblin Town
DroEats
Farcana
The Legend of Eros
MetaGates
Rocket Monsters
The Damned Pirate Society
Town Story
Game application:
Reddit
Rogue Network
Keep in mind that the Arbitrum Noval portal looks closely at categories ranging from cross-chain bridges to wallets, and it should cover most of your information needs about the Nova application.
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Other Arbitrum Nova appsTrove from Treasure, the leading NFT marketplace on Arbitrum One, is already supporting the Arbitrum Nova campaign.
Additionally, some other NFT projects to consider on Arbitrum Nova right now include Zonic, an NFT marketplace covering Optimism and the Arbitrum chain, and NiftyKit, a no-code NFT minting solution that just added support for minting NFT collections on Arbitrum Nova support.
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What is needed to use Arbitrum Nova
To get started with Arbitrum Nova, first choose an Ethereum wallet such as MetaMask, Coinbase wallet or WalletConnect. Since Arbitrrum Nova is compatible with the Ethereum Virtual Machine (EVM), basically any Ethereum wallet can become an Arbitrum Nova wallet.
Finally, you need some ETH to cover your transaction fees on Arbitrum Nova. If you have ETH on the Ethereum network, you can transfer funds to Arbitrum Nova for use via the cross-chain bridge.
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Transfer assets to Arbitrum Nova through cross-chainIf you want to transfer Ethereum-based assets such as ETH and ERC 20 tokens to/from Arbitrum Nova, you may considersecondary title
Summarize
Summarize
Arbitrum Nova is a new L2 scaling solution tailored to handle high volume Web3 gaming and social application transactions. Nova is derived from Arbitrum One, but Arbitrum Nova brings some new features, such as Data Availability Syndication (DAC) to reduce transaction costs.
