The Graph, a decentralized protocol for indexing and querying blockchain data, has started the final migration of its settlement layer from Ethereum to Arbitrum, a layer-2 scaling solution. This move was aimed at reducing gas fees, increasing transaction speeds and improving user accessibility.
The Graph team said that the migration was approved by GRT holders, who wanted to optimize user experience and cut usage costs. According to Tegan Kline, CEO of Edge & Node, gas efficiency was the priority for The Graph users, and the selection of Arbitrum came after a careful evaluation.
Following the news, the price of GRT and ARB went up slightly. GRT traded 2.3% higher, while ARB peaked at $1.01 and was 1.5% higher in the past 24 hours. The slight increases occurred as Bitcoin and altcoins tried to keep the little positivity left after last week’s market decline due to the US SEC’s crackdown on Binance and Coinbase.
CoinJournal reported in February that the price of GRT surged after the first transition began and the protocol moved network rewards to the L2. The current phase is dedicated to completing the full relocation.
