Rise Integrates Arbitrum to Power Global Contractor Payments

We are dedicated to bringing a streamlined payments solution to a growing number of workers interested in cryptocurrencies and decentralized finance. With this rapidly growing interest, our service requires just as efficient and responsive partners to make this solution widely available and scalable. Rise offers customers an upgraded experience over the Ethereum mainnet, bringing L2 solutions’ efficiency to today’s team payments’ environment.

Powered by Arbitrum

We’ve partnered with Arbitrum to bring higher throughput and lower costs to our payments workflow. Through the efficiency that optimistic rollups provide, the Arbitrum network enables extremely low fees when compared to the Ethereum mainnet. They are so low that Rise covers the cost of transactions, making our team payment solution as seamless and efficient as possible for customers.

Arbitrum at a Glance

Offchain Labs created Arbitrum in 2018. After receiving investments from major players in the cryptocurrency space, Arbitrum One was officially launched in August 2021. Since then, Arbitrum has become the most popular Layer 2 solution in the blockchain space with over $1.3B in Total Value Locked (TVL).

Now let’s take a closer look at what makes Arbitrum’s use of Optimistic Rollups or (ORUs) core to Rise.

Optimistic Rollups and Arbitrum 

A “rollup” is a way to execute actions off of the Ethereum Mainnet, or L1, using data from the original blockchain. By settling batches of transactions on a secure sidechain, Arbitrum is then able to safely feed that information back to the Ethereum mainnet.

This helps to speed up and reduce the cost of Ethereum’s Mainnet while utilizing the security properties inherently built into it. Rise’s customers have guaranteed security in this sense and spend less time on manual processes.

Rollups post their transaction actions on L1 after the L2 transaction is executed, making the information equally transparent. Arbitrum validators or operators are essential for rollups and incentivized to verify and execute blockchain transactions responsibly, adding an additional layer of security to this technology. Validators act as guards so-to-speak, watching the state of the chain and working to confirm the information passed through Arbitrum’s chain.

Optimistic rollups are titled as such since they optimize transactions on the blockchain, rewriting code to process the transactions for less.

Accomplishing 10 to 100 times more efficiency throughput is possible using this solution, a necessity for businesses to pay their teams at scale. At the time of writing, a transaction on Ethereum Mainnet is over $10 vs just $0.02 to $0.03 on Arbitrum.

Rise and Arbitrum’s partnership brings immeasurable potential to the blockchain space, opening opportunities for a new generation to take control of their finances through the growing adoption of cryptocurrency.

Want to learn more about Arbitrum and Layer 2 Scaling Solutions? Read more about it on this blog.