Offchain Labs, the lead developer behind the Arbitrum layer 2 network and the altcoin ARB, has launched a new program known as “Onchain Labs.” This initiative aims to support the development of new applications within the Arbitrum ecosystem. In collaboration with the Arbitrum Foundation, the program is designed to offer technical and marketing support to early-stage projects that show promise.
New Applications for Arbitrum Will Be Supported
Onchain Labs focuses on strengthening the application layer on Arbitrum. The program will provide 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.
Altcoin Arbitrum Onchain Labs Announcement
The company stated that it would only support projects that are community-focused and committed to fair launches. Projects aiming to profit from the ecosystem without creating value will not be supported. However, it was also noted that projects under Onchain Labs could be experimental in nature, with the first supported project expected to be announced soon.
What’s Next for Altcoin Arbitrum’s Development Process?
On the other hand, 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 $1,915 Layer 2 applications are among the top priorities.
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.
