Arbitrum, developed by Offchain Labs, is an Ethereum Layer 2 blockchain rollup technology. Its main advantage is enabling high-performance, cost-effective Ethereum transactions while simplifying the development process for Ethereum developers by abstracting the complexities of Layer 2 technology. By employing rollup technology, Arbitrum consolidates multiple transactions into a single one, leading to reduced fees and faster transaction speeds for users.
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The Philippine Peso (PHP) is the official currency of the Philippines, issued by the Bangko Sentral ng Pilipinas (BSP). The Philippines has a rapidly growing crypto market, with strong adoption of play-to-earn gaming and remittance-focused stablecoins pegged to PHP. Several exchanges provide PHP trading pairs for crypto enthusiasts.