Offchain Labs, the lead developer behind the Arbitrum network, has launched a new initiative called Onchain Labs to support the development of new applications within the Arbitrum ecosystem.
Support for New Applications on Arbitrum
Onchain Labs focuses on strengthening the application layer on Arbitrum. The program provides developers with strategic guidance and product development support from the ideation phase to launch. Offchain Labs aims to leverage Arbitrum’s sub-second block times and developer compatibility through Stylus to create innovative solutions. The company stated that it would only support projects that are community-focused and committed to fair launches. The first supported project is expected to be announced soon.
What's Next for Arbitrum's Development?
Offchain Labs continues its efforts to enhance Arbitrum’s performance. The company is developing an alternative client to increase transaction capacity. Additionally, the integration of zero-knowledge proofs and improving user experience for Ethereum Layer 2 applications are among the top priorities.
Funding and Future Steps
In 2021, Offchain Labs raised $120 million in a Series B investment round. Recently, the company announced plans to include ARB coin, the main asset of the Arbitrum ecosystem, among its treasury assets.
The Onchain Labs initiative promises significant development for the Arbitrum ecosystem, creating opportunities for new applications and enhancing the platform's technical aspects.
