Exchange Arbitrum

What is Arbitrum?

Arbitrum is a layer 2 scaling solution for Ethereum. It aims to increase the capacity of the Ethereum network by using smart contracts to support off-chain processes. By doing so, it reduces congestion on the main Ethereum chain and increases transaction speed and efficiency. Arbitrum supports a wide range of smart contract languages, making it accessible for developers familiar with different programming languages. Arbitrum was founded by Steven Goldfeder and Harry Kalodner, two prominent figures in the field of blockchain technology. The Arbitrum project was officially launched on January 15, 2021.

Key and unique features

Some of the key features that set Arbitrum apart include:

• Arbitrum supports both optimistic rollups (which batch transactions off-chain before submitting them to the main chain) and standalone rollups (which handle transactions and wouldn't need to interact closely with the main chain).
• It offers smart contract support which is fully compatible with the Ethereum Virtual Machine, making it developer-friendly.
• It maintains the security of Ethereum's decentralized infrastructure while increasing the transaction throughput.

The average Arbitrum network fees

The current average transaction fee on the Arbitrum network ranges from 0.00005 ETH to 0.0001 ETH per transaction, translating to approximately $0.15 to $0.30 USD.

ARB token wallets

Here are some popular wallets that support the arb coin:

MetaMask: A web crypto ledger that supports all the Ethereum-based tokens and NFTs;

Trust Wallet: Binance's official crypto wallet supporting a wide range of cryptocurrencies and tokens including ARB;

Ledger Nano X: A hardware wallet you can store ARD on.

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