Arbitrum Foundation launches DAO governance

After a lengthy period of trial and error and has been functioning on mainnet for a while, finally, the launch of the DAO governance is carried out for the Arbitrum One as well as the Arbitrum Nova network. This is being looked upon as a giant step toward decentralizing both networks. With this, the next phase of the Arbitrum will be in the hands of the DAO community.

The initial stage in producing Arbitrum is a secure update of Ethereum. To construct a secure and decentralized L2, it must eliminate all centralized points of chain control, allowing it to operate without trust. The chain must function without the need for centralized actors, which necessitates the development of core technologies. The primary consideration, in this case, is the fraud evidence. Proofs of arbitrary fraud are required for both security and decentralization.

In the past, the Arbitrum happened to be upgraded to the Nitro stack. This also entailed improved compression, reduced costs, and increased throughput. Upgradability is a crucial need for the software’s recovery in the event that a vulnerability is discovered. The Arbitrum DAO manages upgradeability in this case. The $ARB token also plays a vital role in the distribution of power to the community. To safely upgrade Ethereum, a token is a necessity. Self-implementing is a feature of the Arbitrum DAO. This is an essential decentralization aspect. For its part, the Arbitrum Foundation has established the twelve-member multi-signature Arbitrum Security Council. But, the Arbitrum DAO will have the final say, regardless of what the Arbitrum Security Council decides.

The Arbitrum Orbit will enable developers to deliver their very own Layer 3 blockchain in the Arbitrum ecosystem in a simple and permissionless manner. Any developers offering L3s on Arbitrum One and Nova will be provided with a free, perpetual license that enables them to exploit, modify, and personalize the cutting-edge technology of Arbitrum for their L3 chains.

Where the $ARB airdrop is concerned, it was decided that the $ARB tokens will be forwarded to actual users of Arbitrum. There will be points given for using Arbitrum One, as well as Arbitrum Nova, along with early usage. Users receiving three or more three points will be qualified for airdrop. For users who never passed the qualifying mark, another method was adopted for granting tokens in the form of DAO airdrop. 

The Dao airdrop also had the Protocol Guild, a body of the prime developers and contributors of Ethereum. The significant Arbitrum token is meant for the community, with the imminent airdrop disbursing 12.75%. Overall, the launch is a step towards the decentralization of the Arbitrum networks, giving the community control over its ecosystem and technology.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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