"Robinhood Chain, which the company teased last June, is currently in the so-called testnet phase. That means it is publicly visible but restricted to a limited number of partners and participants who can test its infrastructure, and introduce experimental features. In coming months, the "mainnet" version of Robinhood Chain will go live and be used to process customer transactions."
"'We now have Alchemy, LayerZero, Chainlink, and other big crypto players. But moving forward, when the mainnet is live, customers will be able to interact directly with it,' Robinhood's SVP of Crypto, Johann Kerbrat, told Fortune. Kerbrat added that Robinhood Chain will support transactions both in its self-custody crypto wallet, and also in the main Robinhood app. He noted that, on a customer level, the blockchain will be a seamless experience and many people will be unaware they are even using it."
"Robinhood Chain itself is built on a technology called Arbitrum, a so-called Layer 2 blockchain that sits atop Ethereum, and is designed to process transactions in batches in order to make them cheaper and more efficient. Arbitrum is one of two dominant Layer 2 technologies in the Ethereum world. The other is called Optimism, and is used by Robinhood rival Coinbase, which has adapted it for its own popular Base blockchain."
Robinhood launched a developers' version of Robinhood Chain that is currently operating as a restricted testnet for partners and participants to test infrastructure and experimental features. The chain will transition to a mainnet in coming months to handle customer transactions. Robinhood Chain will support transactions in both a self-custody crypto wallet and the main Robinhood app, aiming for a seamless user experience. The chain is built on Arbitrum, an Ethereum Layer 2 that batches transactions to reduce costs and improve efficiency. The launch aligns with broader efforts to enable tokenization, including tokenized stocks.
Read at Fortune
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