As new cryptos emerge with new solutions that address the existing shortcomings in the cryptocurrency arena, a widespread reception indicates their acceptance and potential as a functional platform. That’s the case with Arbitrum, as the latest ARB news reports a massive turnout for its airdropped ARB tokens following Avorak AI’s Space ID purchase on Arbitrum. Let’s explore Avorak’s role in ARB liquidity.
Arbitrum (ARB)
Arbitrum deploys Optimistic Rollups technology to process Ethereum mainnet transactions off-chain and then submit them in batches. This layer-2 scaling solution aims to remedy the workload slowing down the Ethereum network to achieve faster and cheaper transactions while still maintaining the same level of security and decentralization.Â
Arbitrum can support smart contracts written in Solidity, and developers can easily migrate their existing Ethereum dApps to Arbitrum without making significant changes to their code. Arbitrum deploys its Arbitrum Virtual Machine (AVM), meaning that any dApp on Ethereum can also run on Arbitrum. Developers create and deploy their dApps on Ethereum and Arbitrum, providing a user with more options for accessing and using their dApps.
What Is Space ID?
Space ID runs on the token ID to execute its vision of an identity management platform that allows users to securely and privately store and manage their personal information. Arbitrum news of Space ID’s purchase by Avorak is a significant development in the world of blockchain technology and cryptocurrency. Such a move shows a clear intention from Avorak to expand its cross-chain capabilities and add liquidity to Arbitrum.
Avorak AI (AVRK)
Avorak AI (AVRK) is a revolution in itself, as it impacts where it touches. From its easy-to-use AI tools to excellent ICO performance, Powered by its token, AVRK, and audited by CyberScope, Avorak AI is revolutionizing and demystifying the crypto space. For example, its trade bot simplifies the technical analysis aspects of crypto trading by allowing users to input their user-defined parameters while the trading bot does the monitoring and data analysis.
Currently, in phase 3, the ICO characterizes a record-breaking run that witnessed a price increase of 141.67% to its current $0.145 as the early investors earn bonuses of 8%. So excited are crypto enthusiasts that they have taken to YouTube with step-by-step explanations of Avorak’s roadmap.
Avorak AI has also invested in image and text generation tools to develop its writing assistant, Avorak Write. Users need only input their queries and set the tone and style for a quality and original output. Through computer scrapping and language processing capabilities, Avortak AI’s writing tool delivers on-repetitive and plagiarism-free content that helps marketers and other users.
What Next For Avorak After Space ID?
Avorak’s move is causing speculation in the crypto world, as experts predict that Avorak may soon add Arbitrum liquidity leading to increased demand for ARB and further adoption of new blockchain technology. Avorak’s purchase of Space ID is an indication of this potential of adding ARB liquidity, thereby benefiting Avorak and ARB traders.
Conclusion
As the crypto industry solidifies, interoperability between chains is becoming increasingly important, and Avorak’s purchase of Space ID is a step in the right direction. It will be interesting to see how this purchase plays out in the industry as ARB news keeps tabs on the latest developments.
More notes on Avorak AI here:-
Website: https://avorak.ai
Whitepaper: https://avorak-labs-and-technology.gitbook.io/avorak-a.i-technical-whitepaper/
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