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Uniswap Users Supported The Launch Of The Exchange On The Second Level Of Arbitrum

Members Of The Uniswap Community Have Supported The Launch Of The Third Version Of The Decentralized Exchange On The Second Level Arbitrum Protocol. According To The Founder Of Uniswap Hayden Adams, The Proposal Received 41.35 Million Votes In Favor And None Against. Its Author Noted That The Abandonment Of Second-tier Networks Such As Arbitrum And Polygon Opens Up Opportunities For Competing Exchanges To Occupy This Space.

“we Intend To Support The Community By Launching V3 Smart Contracts In Arbitrum. We Have Already Started Working On Interface Support And Are Planning A Deployment, ”wrote Adams.

He Stressed That Second-tier Solutions Will Bring “Incredible Benefits” From A User Experience Perspective, Thanks To Fast Transaction Completion And Low Processing Fees. However, He Urged Not To Wait For Results Too Soon, As The Technology Is Experimental And Still Requires Extensive Testing Before It Can Maintain Economic Activity At A Level Comparable To The Main Ethereum Blockchain.

In 2019, Arbitrum Raised $ 3.7 Million To Study The Possibility Of Scaling Smart Contracts, And In Early 2020 They Launched Their First Roll-up System On Ethereum. In November Of The Same Year, The Developers Reported That They Were Able To Achieve A 55-fold Reduction In Fees In The Test Version Of Uniswap V2 With The Ability To Process 390 Asset Exchange Transactions Per Second Against Seven Transactions In Ethereum.

Adams Also Noted That They Still Plan To Deploy Uniswap On The Optimism Layer 2 Network In The Near Future. The Release Was Supposed To Take Place In May, But Due To A Hitch In The Last Project, It Had To Be Postponed. Arbitrum Intends To Open Its Main Network To Developers On Friday. In March, Ethereum Founder Vitalik Buterin Praised The Work Of Arbitrum For Progress In Creating A Second Level Solution Compatible With The Ethereum Virtual Machine (Evm), That Is, Allowing Not Only Transferring Eth, But Also Launching Smart Contracts.

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