Cryptocurrency News

Ethereum scaling network Arbitrum set for major upgrade on Aug. 31

08/30/2022

Less than a minute

2022.08.30 18:42

Ethereum scaling network Arbitrum set for major upgrade on Aug. 31

Ethereum layer-2 scaling solution Arbitrum is set to undergo one of its most significant upgrades on Wednesday, set to increase transaction throughput, slash transaction fees and simplify cross-chain communication between Arbitrum and Ethereum.

Referred to as the “Nitro” upgrade, Arbitrum reconfirmed the date of the upgrade in a Twitter (NYSE:TWTR) post on Aug. 29, confirming that the upgrade will take effect on Aug. 31 at 10:30 AM Eastern Time, while noting a two to four hours of network downtime period is to be expected.

08/30/2022

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