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Offchain Labs
Enterprise Software
Offchain Labs is a New York-based blockchain infrastructure company that develops Arbitrum, one of the largest "Layer 2" scaling networks built on top of the Ethereum blockchain.
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Offchain Labs was founded in 2018 by Ed Felten, Steven Goldfeder, and Harry Kalodner, with Felten a Princeton computer science professor who had previously served as the U.S. Deputy Chief Technology Officer, based on the recognition that Ethereum, one of the largest and most widely used blockchain networks, has historically faced significant scalability limitations, meaning it can only process a relatively limited number of transactions per unit of time, leading to network congestion and high transaction fees during periods of heavy usage, a limitation that has constrained the practical usability of many Ethereum-based applications, particularly for smaller-value transactions where high fees can exceed the value of the transaction itself. Offchain Labs's core product, Arbitrum, is a "Layer 2" scaling solution, meaning a separate blockchain network that processes transactions they claim more cheaply and quickly than Ethereum's main network while still ultimately relying on and inheriting security guarantees from the underlying Ethereum blockchain, using a technique called "optimistic rollups" that batches many transactions together and processes them more efficiently than executing each transaction directly and individually on Ethereum's more congested and expensive main network. Arbitrum has grown to become one of the largest and most widely adopted Ethereum Layer 2 networks by both transaction volume and total value of digital assets deployed on the network, hosting a very large ecosystem of decentralized finance applications, NFT platforms, and other blockchain applications that have migrated to or launched natively on Arbitrum to take advantage of its significantly lower transaction costs relative to Ethereum's main network while still benefiting from the underlying security of the broader Ethereum ecosystem. The company has positioned Arbitrum as critical scaling infrastructure supporting Ethereum's continued growth and usability as blockchain adoption has increased, addressing a scalability challenge widely viewed as one of the most significant technical obstacles to broader mainstream blockchain adoption. Offchain Labs has raised substantial venture funding from investors including Lightspeed Venture Partners, Polychain Capital, and Pantera Capital, and Arbitrum's associated governance token has traded at a significant market valuation reflecting the network's substantial usage and ecosystem.
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