Blockchain analytics provider Nansen has announced the upcoming integration of the Arbitrum network.
Users will have access to the Arbitrum Dashboard
Users will access technical charts and quantitative data displayed in an Arbitrum dashboard. One of Nansen’s tools is Smart Money, a feature that tracks the wallet addresses of hedge funds, institutional investments, and whales and aggregates their activity in a visual chart that allows users to identify technical patterns. Accompanying the announcement, the Nansen team published a research paper claiming that Layer 2 solutions like Arbitrum have the potential to become market leaders in Ethereum scalability in the next five years.
Other platform features include NFT Paradise and Mint Master, which offer insights into the NFT space. Currently, the Singapore-based company supports Ethereum, Polygon, Binance Smart Chain (BSC), Fantom, and integration with Solana is planned for early 2022. The company raised $12 million in Series A funding earlier this year. The funding round was led by Andreessen Horowitz (a16z).
What is Arbitrum?
Arbitrum One mainnet launched its rollup solution to the public on Sept. 1 and has since become one of the leading scaling solutions with a TVL of more than $2.38 billion in completed transactions. It has about 2,500 verified contracts and has been adding an average of 12 more contracts every day since September. Major DeFi projects like Aave, Uniswap, and 1inch, support the scaling solution.
In terms of processing capacity, Arbitrum should enable 40,000 transactions per second (TPS) and a significant cost advantage over using Ethereum at the base layer. Nansen’s research paper also comments on the possibility of introducing a native arbitrum token, a topic of discussion that has gained significant traction in recent months given the increase in adoption.