OpenSea has developed a new solution for selling low-cost NFTs: we’re talking about Arbitrum Nova, the new support for the famous NFT sales platform.
Yesterday, January 9, the largest marketplace for the sale of non-fungible tokens announced its new support, a Layer 2 Ethereum scaling protocol, which aims to provide NFTs at a lower cost.
Currently, the platform supports Ethereum, Solana, Polygon, Klatyn, Arbitrum, Optimism, Avalanche and BNB Chain. The new name included in the list was Arbitrum Nova.
Thanks to this new collaboration, OpenSea has become a member of the DAC (Data Availability Committee), the decentralized organization that aims to help the growth of Arbitrum’s data infrastructure. An organization that features other really notable members like Google Cloud, Reddit, P2P, Consensys, and QuickNode.
The DAC (Data Availability Committee) has three main functions: to protect users’ trading privacy by allowing balance updates and trades to be hidden from other users. The function of checking the status of balances and, if valid, signing in to allow on-chain updates. To publish all balances if the platforms that support it go offline or withhold data.
What is Arbitrum Nova?
Arbitrum Nova, is quite recent. In fact it was launched in August 2022, and it is a new chain built on Arbitrum’s AnyTrust technology, it is a new update optimized for transactions at really low costs and with strong security guarantees.
Arbitrum creates complete Ethereum Virtual Machine (EVM) environments through Optimistic rollup technology. Thus, users can have a faster experience on the Ethereum mainnet with a reduced cost.
The creator of the Arbitrum ecosystem is OffChain Labs, and in addition to creating Arbitrum Nova, it also created its main network Arbitrum One. The Arbitrum mainnet (Arbitrum one) will remain available for DeFi and NFT projects.
However, the main purpose of creating Nova is the distribution of games and social applications. Offchain Labs built Nova with its new technology (the Arbitrum AnyTrust technology).