Ethereum Layer2 Arbitrum Launches New Nova Network With Reddit Support

Ethereum scaling solution Arbitrum has launched a second chain built on AnyTrust Technology dubbed “Arbitrum Nova.” Reddit will use the new chain to enhance its blockchain-based Community Points rewards program for users.

Arbitrum Nova Goes Live

According to Offchain Labs, the creator of Arbitrum, Nova is now available for all end-users and developers.

While Arbitrum One is designed for non-fungible tokens (NFTs) and decentralized finance (DeFi) projects, the newly-launched chain Nova is optimized for social applications and gaming projects.

Offchain noted that Nova will provide gaming and social projects that launch on it with high transaction volumes, lower gas fees, and high security.  The company said the new chain was built to serve as a scaling solution for Web3 gaming and social applications.

“The launch of Arbitrum Nova marks a major milestone for the Arbitrum ecosystem. The high scalability and ultra low-cost transaction fees of Arbitrum Nova open developers to a new world of possibilities when building on Ethereum. We look forward to continually optimizing and improving Nova to drive costs down even further,” Steven Goldfeder, co-founder, and CEO, Offchain Labs said in a statement.

Reddit Launches Community Points on Nova

In its announcement, Offchain Labs revealed that as one of the inaugural members, Reddit will use Nova to enhance its blockchain-based Community Points program, starting with two communities.

Community Points is a blockchain-based program that allows Reddit users to earn points by contributing to the community. 

Reddit launched the program in 2020 and has since been in development. Both Reddit and Offchain Labs have been working closely since last year on the creation of a separate Blockchain instance, to be used for storing users’ tokenized community points.

“Reddit’s journey, from bakeoff to mainnet deployment, underscores our belief that the Arbitrum technical stack is the best scaling solution for developers, not just in Ethereum, but in the entire blockchain space,” Offchain Labs said.

Other inaugural members that will be launching on the new chain include several Google Cloud, Reddit, FTX, Consensys, P2P, and QuickNode.