Offchain Labs is a blockchain technology company known for developing the Arbitrum Layer 2 scaling solution for Ethereum. Layer 2 solutions are designed to improve the scalability and performance of blockchain networks like Ethereum by offloading some of the computational work onto a secondary layer, or "off-chain," while still maintaining the security and trust of the primary blockchain.
Arbitrum, developed by Offchain Labs, is an implementation of Optimistic Rollup, a type of Layer 2 scaling solution. It aims to address some of the scalability and high transaction cost issues associated with the Ethereum network. Arbitrum allows for faster and cheaper transactions while still benefiting from the security and decentralization of the Ethereum blockchain.