Arbitrum, one of the most popular Layer-2 solutions on Ethereum
$
1,588, has made a significant move in the cryptocurrency market. Its new blockchain infrastructure, Converge, has been specifically developed for the tokenization of real assets and on-chain financial applications. Launched in collaboration with Ethena Labs and Securitize, the project aims to bring billions of dollars in liquidity to decentralized finance. Converge not only functions as a blockchain but also claims to bridge the gap between the real world and the on-chain ecosystem.
Redefining On-Chain Finance with Converge
The new network is designed to enable more effective management of tokenized assets within the cryptocurrency market. Converge focuses on key performance metrics such as stability and speed during its development. Particularly, processes become more reliable and scalable thanks to Celestia’s modular data access layer. Initially, the block times are set at 100 milliseconds, with plans to reduce them to 50 milliseconds in later stages, offering developers a more efficient and rapid environment.
On the platform, stable tokens like USDe and USDtb will be used for gas fees. This choice increases the predictability of transaction costs while strengthening the connection between the real economy and on-chain assets. Although decentralized finance applications are currently in the spotlight, the groundwork is being laid for the development of numerous DApps on the network. One example is Ethereal DEX, showcasing the system’s usage potential.
Developer Support and Ecosystem Potential
Converge is not just a user network; it is also a developer-friendly platform. With the planned Stylus upgrade, developers will be able to create smart contracts not only in Solidity but also in other programming languages such as Rust, C, and C++. This multi-language support allows teams with diverse software backgrounds to develop projects on-chain, fostering diversity not just technically but culturally.
Arbitrum’s recent move has refocused attention on Layer-2 solutions within the cryptocurrency market. While competitors like Base occasionally lead in transaction volumes, Arbitrum’s technical infrastructure and developer-friendly nature continue to attract interest. Following Robinhood’s listing of Arbitrum transactions, there was an approximate 14% increase in the token price. According to CoinMarketCap data, ARB is currently trading at around $0.2808, and the impact of Converge on the market is expected to become increasingly evident over time.
