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LG Electronics is developing a new blockchain built on the Arbitrum network, designed to serve as a platform for placing, buying, selling, and managing digital advertisements.
News of the project sent Arbitrum's native token, $ARB, up 5%.
What Arbitrum Is Arbitrum is a Layer 2 scaling network — a blockchain that sits above Ethereum, processing transactions faster and at lower cost than Ethereum's base layer, while periodically posting a compressed record of those transactions back to Ethereum for final settlement.
The design lets applications run high volumes of activity without paying the fees that accumulate on Ethereum's main chain.
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