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Bitago is a crypto cashback protocol that will be hosted on the Arbitrum network, which is a layer-2 scaling solution for Ethereum. Arbitrum is designed to increase the scalability of the Ethereum network and reduce gas fees while maintaining the security and decentralization of the main Ethereum blockchain.
As a layer-2 solution, Arbitrum enables Bitago to operate on a sidechain connected to the Ethereum mainnet. This means that users can interact with Bitago through their Ethereum wallets, without creating a separate wallet for Bitago.
Bitago on Arbitrum utilizes the Ethereum Virtual Machine (EVM), which allows the platform to execute smart contracts and interact with other Ethereum-based projects. This interoperability allows Bitago to connect with other decentralized finance (DeFi) projects and enables users to access a wider range of financial services.
To ensure the security and integrity of the platform, Bitago on Arbitrum utilizes a proof-of-stake consensus algorithm known as Optimistic Rollups. This algorithm enables fast and efficient processing of transactions while maintaining the security of the network. Optimistic Rollups work by bundling multiple transactions together and verifying them off-chain, before committing them to the main Ethereum blockchain.
Bitago on Arbitrum also offers users enhanced privacy and anonymity features, such as zero-knowledge proofs and shielded transactions. These features enable users to transact with Bitago without revealing their identities or transaction history while maintaining the security and integrity of the network.
Hosting Bitago on Arbitrum provides users with a fast, secure, and scalable platform for storing and transferring value, with the added benefits of interoperability and enhanced privacy features.