The Recent Launch of Arbitrum’s Token ARB Sparks Network Congestion and Errors on Their Website
According to reports, after Arbitrum announced the open air drop application for Token ARB, the website of the Arbitrum Foundation and the block browser ArbiScan were down due to n
According to reports, after Arbitrum announced the open air drop application for Token ARB, the website of the Arbitrum Foundation and the block browser ArbiScan were down due to network congestion, and the Arbitrum Foundation website displayed a 429 error. In addition, according to Uniswap data, ARB (Arbitrum) is currently quoting $2.4.
The Arbitrum Foundation website is down due to network congestion
The Arbitrum network recently launched an open air drop application for their token ARB, causing a sudden influx of users to their website and block browser ArbiScan. However, the overwhelming demand resulted in network congestion and errors, causing their website to display a 429 error. Additionally, Uniswap data shows that ARB is currently trading at $2.4.
Overview of Arbitrum and their Token ARB
Arbitrum is a protocol that creates a secure off-chain environment for smart contracts, making them faster and cheaper to execute. The network uses optimistic rollups, which allow for high-speed transactions without compromising decentralization or security.
Their token ARB serves as the native currency of the Arbitrum network and is used for various purposes such as transaction fees, network governance, and staking rewards.
The Open Air Drop Application for ARB
On Friday, September 17th, Arbitrum announced the launch of an open air drop application for their token ARB. This application allowed users to sign up and receive free ARB tokens by providing their wallet address and completing specific tasks such as following Arbitrum on social media or referring friends to the platform. This sparked a sudden influx of users to the Arbitrum website and their block browser ArbiScan.
Network Congestion and Website Errors
The overwhelming demand caused network congestion, and many users reported experiencing slow transaction times while interacting with the Arbitrum network. The congestion also caused errors on their website and the block browser ArbiScan. These errors caused the Arbitrum Foundation website to display a 429 error, indicating that too many requests were made to the server.
Impact on ARB’s Trading Price
Despite the network congestion and website errors, ARB’s trading price remained relatively stable. According to Uniswap data, ARB is currently trading at $2.4, with a market cap of $212,994,018. This signals that the market still has faith in the potential of the Arbitrum network and their token ARB, despite these recent setbacks.
Conclusion
The recent launch of the open air drop application for ARB has caused network congestion and errors on the Arbitrum website and the block browser ArbiScan. However, the trading price of ARB has remained stable, indicating that the market still believes in the potential of the Arbitrum network and their token. As the network continues to grow and improve, it is likely that these initial setbacks will be resolved.
FAQs
1. What is Arbitrum?
Arbitrum is a protocol that creates a secure off-chain environment for smart contracts, making them faster and cheaper to execute.
2. What is the native currency of the Arbitrum network?
The native currency of the Arbitrum network is their token ARB.
3. Has there been any update on the network congestion and website errors?
At the moment, there has been no official update from Arbitrum. However, it is likely that they are working to resolve these issues as quickly as possible.
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/daily/9652.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
Gnosis Builders Announces $5 Million Project to Increase Validator Diversity and Numbers
According to reports, Gnosis Chain developer Gnosis Builders has announced a $5 million project to increase the number and diversity of validators through incentive mechanisms. Acc
-
Defybirds: A Bold Move in the NFT World
On March 9, it was reported that the parent company of Moonbirds, PROOF, and the NFT artist DesLucre, jointly launched Defybirds, which was specially designed f
-
#**An Overview of the Recent Transaction by the 0x2E5f Whale Address**
On April 17th, according to Lookonchain monitoring, the address of the giant whale starting with 0x2E5f has released the pledge of 25855 Ethereum (worth approximately $54 million)
-
Why can’t Litecoin be transferred (why is Litecoin so weak in 2020)
<img src='https://img.doulai.com/pic/enpic.php?k=Why can't Litecoin be transferred to ' alt='Why can't Litecoin be transferred to ' alt='images} There are two reasons why Litecoin can’t be transferred to Litecoin: First, the exchange can’t handle a large number of transactions. Secondly, due to the user receiving the wrong token address when receiving LTC, the number of LTCs sent to the other party is insufficient to pay all the handling fees for that address (actually BTC), which makes many transfers “invalid” Why can’t Litecoin move? The reasons are as follows: 1. Due to some transactions not being confirmed, for example, during certain time periods, a user’s ETH balance may be taken away by others If someone transfers a large amount of ERC20 tokens to another address through multiple wallets, they will need to redo the transfer operation 2. If users want to transfer their assets from the exchange back to the exchange and complete the transfer operation or transfer these assets out, they do…
-
Marathon Digital Could Use Signature Bank’s $142 Million Cash Deposit
According to reports, Marathon Digital, a Bitcoin miner, said that the company could use the $142 million cash deposit of Signature Bank. The company said in a statement that it could manage these funds and pay invoices in the normal course of business. Marathon also confirmed that the company has no direct business relationship with Silicon Valley Bank. Last week, Marathon said that he had repaid the term loan of Silvergate Bank and ended the credit arrangement with the bank. According to the previous news, the US federal banking regulator has promised to return all deposits of Silicon Valley Bank and Signature Bank customers. （The Block） Marathon Digital: $142 million of cash deposited in Signature Bank has been available Analysis based on this information:The news report highlights that Marathon Digital, a bitcoin mining company, has announced that it could make use of the $142 million cash deposit of Signature Bank. Marathon stated that it can efficiently manage these funds and…
-
The Bank of Israel is preparing to issue digital shekels
According to reports, the Bank of Israel is preparing to issue digital shekels.
The Bank of Israel is preparing to issue digital shekels
I. Introduction A. Explanation of the di -
Aave V3 to be Deployed on ZkEVM Network: An Overview
On March 26th, it was announced that the ARFC proposal of the Aave community to deploy the MVP version of Aave V3 on the main ZkEVM network has now been voted on. zkEVM is an EVM e
-
First Republic Bank: An Intraday Decline that Surprises Investors
According to reports, the intraday decline of First Republic Bank has expanded to 43%, and trading has been suspended again.
First Republic Bank\’s intraday decline widened to 43% a -
EOS Network Receives $60 Million Investment from Web3 and DWF Labs for Accelerated Growth and Adoption
According to reports, EOS Network has received $60 million in investment from Web3 venture capital company and digital asset market maker DWF Labs. Among them, $45 million was used
-
What is KuCoin (KuCoin Official Website)
What is KuCoin? What makes it different from other cryptocurrencies such as Bit