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Home»Blockchain»Offchain Labs unveils ArbOS 20 Atlas, dramatically reducing transaction fees on arbitrage
Blockchain

Offchain Labs unveils ArbOS 20 Atlas, dramatically reducing transaction fees on arbitrage

2024-03-17No Comments3 Mins Read
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This week, Offchain Labs, the pioneer behind Arbitrum, Ethereum’s leading Layer 2 (L2) scaling solution, announced the launch of ArbOS 20, codenamed ‘Atlas’.

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This milestone release represents a major step forward for the Arbitrum ecosystem and ushers in support for the Ethereum Dencun update across all Arbitrum chains. With the integration of Stylus and EVM+, ArbOS Atlas enables developers to run applications and use cases previously considered infeasible on Arbitrum, especially those that generate a large number of transactions, such as gaming, SocialFi or DeFi exchanges.
One of the most impactful results of ArbOS Atlas is a substantial reduction in Ethereum Layer 2 transaction fees.
By enabling Arbitrum chains to post user transactions in the form of a Blob, Atlas ushers in a new era of transactional economics, lowering costs and unlocking new storage opcodes for more economical temporary data storage. Additionally, Atlas introduces support for EIP-6780, aligning Arbitrum’s security posture with that of the Ethereum Virtual Machine (EVM) and laying the foundation for future EVM enhancements.

Steven Goldfeder, CEO and co-founder of Offchain Labs, expressed his excitement about the benefits of ArbOS Atlas: “The Arbitrum DAO’s decision to adopt ArbOS Atlas reflects an important milestone for the community, especially in terms of improved transaction pricing.”
“This upgrade underscores our commitment to scaling Ethereum for broader adoption and improving the user experience for the native crypto community.”

Steven Goldfeder, CEO and co-founder of Offchain Labs
In addition to the reduction in Layer 1 postal costs made possible by EIP-4844, ArbOS Atlas also provides reductions in the L2 base allowance and the L1 surplus allowance. Notably, the L1 surplus fee per byte will be reduced from 2 gwei to 0, while the L2 minimum base fee will decrease from 0.1 gwei to 0.01 gwei.

See also  Bitcoin Rips Above $29,000, But Why Is Average Transaction Size Low In 3 Years?

These fee reductions, coupled with the introduction of Blob-bearing transactions, promise a more cost-effective and efficient transaction environment for both users and developers.

Altlayer, Caldera, Conduit and Gelato, key providers of Arbitrum Rollup-as-a-Service (RaaS), have committed to upgrading existing Orbit chains to ArbOS Atlas and supporting Ethereum Dencun integration. This move is expected to democratize access to ArbOS Atlas benefits and drive adoption into the Arbitrum ecosystem

“ArbOS 20 – ‘Atlas’ promises numerous functional improvements for transactions running on Arbitrum, especially around pricing and cost savings. We believe these are critical if we are to achieve widespread adoption of rollups.”

Yaoqi Jia, CEO of AltLayer
Matt Katz, CEO of Caldera, shared his expectations, saying: “EIP-4844 blobs will make operating rollup orders of size cheaper to operate, improving the user experience for our customers and their communities. We can’t wait to deliver the see new innovations that will enable low-cost, Ethereum-native data availability.”

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About Offchain Labs

Offchain Labs is a Princeton-founded, venture capital-backed company dedicated to blockchain research and development. As the original contributors to Arbitrum, Offchain Labs has played a pivotal role in revolutionizing the industry with its industry-leading network scaling solutions. Through products like Prysm, Arbitrum Orbit, Stylus, and Arbitrum Nitro, Offchain Labs continues to drive innovation and improve usability in the blockchain space, aligning its efforts with the goals and vision of the broader Ethereum community.

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