Arbitrum is a Layer-2 blockchain designed to scale Ethereum, developed by Offchain Labs. Arbitrum was founded by Ed Felten, formerly President Obama's deputy Chief Technology Officer, Steven Goldfeder (CEO) and Harry Kalodner (CTO). The three co-founders met at Princeton University.

Arbitrum is indeed a Layer-2 scaling solution for Ethereum, developed by Offchain Labs. It aims to improve Ethereum's scalability by processing transactions off-chain and then submitting batches of these transactions to the Ethereum mainnet. 
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