[LG Electronics to Develop New Blockchain Based on Arbitrum, ARB Rises Over 5%] Odaily Planet Daily News: According to reports, LG Electronics has chosen the Ethereum Layer 2 network Arbitrum to develop a new blockchain aimed at supporting advertising and media-related scenarios. Following the announcement, Arbitrum's native token ARB rose over 5% in a single day. The network will be used for the placement, purchase, sale, and management of digital advertisements, as well as recording user interactions with ad content. Arbitrum, developed by Offchain Labs, utilizes Optimistic Rollup technology to provide faster and lower-cost transaction experiences for Ethereum. This is not LG's first foray into blockchain. Previously, LG launched the enterprise-grade blockchain Monachain through its IT services subsidiary LG CNS and developed the cryptocurrency wallet Wallypto. It also introduced the Art Lab NFT marketplace, though the platform was shut down last year.