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Arbitrum Orbit enables the creation of private blockchain chains with customizable features, such as governance and fee structures, which settle transactions on Arbitrum's Layer 2 ecosystems like Arbitrum One or Nova. It utilizes the Arbitrum Nitro technology stack, offering benefits like Nitro's fraud proofs, advanced data compression, and EVM+ compatibility, while also allowing for ongoing upgrades from the Nitro stack developments. Orbit chains can be tailored for specific applications or broader use cases, offering gas price stability, permissioned access, and the choice between Rollup or AnyTrust protocols. Governance is independently determined by the chain creators, providing a flexible, scalable, and secure platform for hosting a range of dApps or private EVM-compatible smart contracts, with the ability to incrementally adopt Ethereum's security features.
Arbitrum Orbit addresses several key challenges within the Ethereum ecosystem:
1. Scalability: Orbit facilitates scalability by allowing the creation of multiple chains. This helps alleviate scaling challenges by distributing activities across various environments, each with its own resource management, thereby easing bottlenecks that could arise on a single chain.
2. Flexible Security Models: With Orbit, developers can implement and test different security models to find the right balance for their projects. For instance, while Arbitrum One offers a fully trustless environment, Arbitrum Nova provides an option to optimize for lower fees with a mild trust assumption. Orbit extends this flexibility, making experimentation with security tradeoffs more accessible.
3. Flexible Execution Environments: Orbit chains allow for customized execution environments. While maintaining full EVM compatibility, Orbit chains can also limit smart contract functionalities to better serve specific project requirements, leading to optimized performance.
4. Flexible Governance: Developers have the autonomy to establish their own governance mechanisms on Orbit chains, which can be tailored to suit the unique needs of their projects, communities, or stakeholders.
5. Increased Adoption of dApps: Orbit lowers barriers to progressive decentralization, making it more feasible for developers to launch decentralized applications. It enables a new breed of dApps that benefit from being built in more autonomous, self-managed conditions, potentially increasing the adoption and diversity of dApps within the blockchain space.