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SOFTWARE (NON-INTERNET/MOBILE) | Gaming
offchainlabs.com

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Founded Year

2018

Stage

Series B | Alive

Total Raised

$123.7M

Valuation

$0000 

Last Raised

$100M | 25 days ago

Mosaic Score

+70 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About Offchain Labs

Offchain Labs builds a suite of scaling solutions for Ethereum. This includes Arbitrum Rollup, an EVM-compatible rollup that is currently live on an open, public, and full-featured testnet. Arbitrum Rollup instantly scales Dapps, reducing costs and increasing capacity, without sacrificing on security. Porting contracts to Arbitrum requires no code changes or downloads, as Arbitrum is fully compatible with all existing Ethereum developer tooling.

Offchain Labs Headquarter Location

252 Nassau St Fl 2

Princeton, New Jersey, 08542,

United States

Latest Offchain Labs News

Here’s why Ethereum DeFi app Arbitrum went offline yesterday

Sep 16, 2021

Arbitrum suffered downtime on September 14 as the network’s sequencer went offline for roughly 45 minutes, disclosed Offchain Labs, the company that is developing the optimistic rollup, in an official report on Medium. The young Layer-2 rollup belongs to the flock of scaling solutions that sit on top of the Ethereum ( ETH ) network, enabling cheaper and faster transactions. Sequencer outage “Arbitrum One is still in its beta phase, and we will do our best to minimize downtime. But, as we noted in our launch announcement, we do want to caution users that further outages are possible in these early days,” said Offchain Labs in an official outage report, while underlining that the funds were never at risk. Please see below for more information on today's Sequencer downtime. https://t.co/85inudbSGk According to the report, the downtime was ascribed to “a bug causing the sequencer to get stuck” after a huge batch of transactions were submitted over a short period of time. “The issue has been identified and a fix has been deployed,” reassured the company and continued to point out the difference between a sequencer outage and a network outage. “The Sequencer never has the ability to steal funds or forge transactions, because every transaction it handles is digitally signed by a user and the signatures are checked by the Arbitrum chain,” read the report, in which the developers reminded that the Arbitrum bridge continued to operate during the outage. During the downtime, the submission of new transactions was halted, although, as explained in the report, users were still able to bypass the sequencer and submit their transactions directly to Ethereum for delayed inclusion in the Arbitrum chain. Ethereum evades the attack Another blockchain platform, Solana ( SOL ), also stopped processing transactions as the network experienced intermittent instability . 1/ Solana Mainnet Beta encountered a large increase in transaction load which peaked at 400,000 TPS. These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging caused the network to start forking. Meanwhile, the Ethereum blockchain itself evaded a malicious attack. “Someone unsuccessfully tried to attack #ethereum today by publishing a long (~550) blocks which contained invalid pow’s,” according to Marius Van Der Wijden, a developer on Ethereum, who flagged the incident on Twitter yesterday. Someone unsuccessfully tried to attack #ethereum today by publishing a long (~550) blocks which contained invalid pow's. Only a small percentage of @nethermindeth nodes switched to this invalid chain. All other clients rejected the long sidechain as invalid Only a small percentage of Nethermind nodes switched to the invalid sidechain, which was fairly quickly overtaken in both length and difficulty by the good chain. “Another great demonstration of how client diversity makes #ethereum stronger,” commented the developer, while reassuring that all affected nodes reorged back to the good chain. Get an edge on the cryptoasset market Access more crypto insights and context in every article as a paid member of CryptoSlate Edge. On-chain analysis

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Expert Collections containing Offchain Labs

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Offchain Labs is included in 3 Expert Collections, including Gaming.

G

Gaming

4,612 items

Gaming companies are defined as those developing technologies for the PC, console, mobile, and/or AR/VR video gaming market.

U

Unicorns- Billion Dollar Startups

832 items

B

Blockchain

3,282 items

Companies and startups in this collection leverage blockchain technology for crypto investing and trading, decentralized finance (DeFi), NFTs, and more.

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