San Francisco, January 25, 2024 /PRNewswire/ -- Chainlink, the industry-standard decentralized computing platform, as well as Arbitrum, one of the most widely used layer 2 scaling solutions for Ethereum dApps, have announced today that Chainlink Functions is now available on Arbitrum One's mainnet as a beta release.
As a serverless, self-service developer platform, Chainlink Functions provides developers with the ability to easily integrate their smart contracts into any API and create trust-minimized computations without requiring any external resources. As a decentralized computing runtime for Web3 apps, Chainlink Functions allows them to test, simulate, and run custom offchain logic. As far as serverless solutions are concerned, Chainlink Functions acts as a trust-minimized, blockchain-connected alternative to existing solutions such as AWS Lambda, GCP CloudFunctions, and others.
It is a serverless, self-service development platform that enables developers to easily connect smart contracts with any API, while minimizing their reliance on trust. As a decentralized compute runtime for Web3 applications, Chainlink Functions can be used to test, simulate, and run custom offchain logic. There are many ways in which Chainlink Functions is an extremely trust-minimized, blockchain-connected alternative to existing serverless solutions like AWS Lambda, GCP CloudFunctions, and many others.
"As an Ethereum L2, Arbitrum plays a crucial role in supporting the overall health and sustainability of the Ethereum ecosystem," said Johann Eid, Chief Business Officer at Chainlink Labs. As the Arbitrum team explains, the goal of bringing Functions to Arbitrum is to connect Web2 and Web3 developers and bridge the gap so that they can collaborate, grow, and build a sense of community together."
It has been said that Ethereum One is an optimistic rollup that will enable high-throughput, low-cost decentralized applications powered by Ethereum One. By providing the missing infrastructure for any developer (Web2 or Web3) to build feature-rich applications that combine both the best of traditional and Web3 development, Chainlink Functions is helping to onboard the next million developers to Web3.
In order for Arbitrum's technology to be widely adopted, Offchain Labs' Chief Strategy Officer A.J. Warner emphasized that simplifying Web3 to feel more like a native Web2 experience is crucial. As Arbitrum developers are able to connect to Web2 data more easily and perform low-cost computations through Chainlink Functions, the experience will be streamlined.
As of today, Arbitrum developers can leverage Chainlink Functions within their application on-demand. Developers have access to the Chainlink Functions documentation, can experiment with the Chainlink Functions Playground, as well as create a subscription to get started.
In the world of decentralized computing, Chainlink is the industry-standard platform that powers the verifiable web. By giving financial institutions, startups and developers worldwide access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain, Chainlink has enabled over $9 trillion in transaction value. Banking, DeFi, global trade, gaming, and other major industries are using Chainlink to build verifiable applications and high-integrity markets.
If you would like to learn more about Chainlink, you can visit chain.link or check out the developer documentation found at docs.chain.link.
A little bit about The Arbitrum FoundationThe Arbitrum Foundation, founded in March 2023, supports and grows the Arbitrum network and its community by providing secure scaling solutions for Ethereum systems. With Arbitrum One, Offchain Labs has developed a leading Ethereum Layer-2 scaling solution that provides ultra-fast, low-cost transactions with security derived from Ethereum through the use of Optimistic Rollup technology.. The Arbitrum One mainnet beta, which was launched in August 2021, is EVM-compatible down to the bytecode level, with over 54% TVL in the L2 segment as of this writing. As of today, there are more than 2000 DeFi and NFT projects active in the ecosystem. Arbitrum One upgraded its technology stack to Nitro in August 2022, allowing fraud proofs to be applied to Geth engine compiled to WASM over the core engine of Geth
Arbitrum One upgraded its technology stack to Nitro in August 2022, allowing fraud proofs to be applied to Geth engine compiled to WASM over the core engine of Geth
SOURCE Chainlink Foundation; Arbitrum Foundation
With Chainlink, which is an industry standard platform for Web3 services, and Arbitrum, which is the most widely used layer 2 scaling solution suite for Ethereum decentralized applications...

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