What Makes Arbitrum Different
Low Transaction Fees
Arbitrum's goal is to lessen the work that the main Ethereum chain has to do, resulting in lower transaction fees. For instance, while Ethereum fees can be a few dollars, Arbitrum fees are usually only a couple of cents. This has gained praise from Ethereum fans as a solution to the issue of high fees.
Arbitrum achieves its goal of reducing fees by utilizing Layer 2 (L2) scaling architecture. This architecture allows for off-chain computation and state transitions, which takes away the burden from the Ethereum mainnet and reduces the amount of work it has to do. As a result, transactions can be processed faster and at a lower cost.
Lightning-Fast Transaction Speed
Arbitrum is a Layer 2 blockchain designed to scale Ethereum, boasting one of its best attributes: high transaction execution speed. While Ethereum can only handle 20-40 transactions per second (TPS), Arbitrum can manage thousands. With Arbitrum Rollup, a sub-module within Ethereum, we no longer require Ethereum nodes to process every Arbitrum transaction. This "innocent until proven guilty" attitude toward Arbitrum allows Ethereum to optimistically assume that the activity is following the proper rules. In case a violation occurs, Ethereum can prove the fraud, and the malicious party will be financially penalized.
Safe & Secure Transaction Data
Aside from being quick and cost-effective, the Arbitrum chain has another ace up its sleeve - it provides you with the added assurance of secure and dependable transaction data through its trustless security. By settling transactions on Ethereum mainnet, the network benefits from the sturdy and decentralized model of the Ethereum ecosystem, which is as solid as a rock.
ARB The Native Token of Arbitrum network
To be true Arbitrum Wallet user you have to have their native Token ARB. The ARB Token is essential to the Arbitrum ecosystem, serving as its governance token on the ERC-20 standard. It facilitates value transfer within the network and allows holders to participate in governance decisions, including ecosystem investments and technical updates. Additionally, ARB token holders vote in the election of the Security Council, which oversees the ecosystem's treasury, ensuring network integrity and security. This democratic process is conducted transparently, empowering token holders to influence the direction and development of Arbitrum.
How can I get ARB tokens on my Arbitrum wallet?
To get Arbitrum ARB on BlockWallet is super easy. Thats why it makes one of the best Arbitrum Wallets outhere. You Can get Arbitrum ARB in 3 easy ways:
Buying ARB via BlockWallet On-ramp:
An easy method to obtain Arbitrum is by utilizing the BlockWallet on-ramp function. This feature in the BlockWallet cryptocurrency wallet enables the purchase of digital currencies using common payment options such as credit cards or bank transfers. Once BlockWallet is set up, its user interface allows for the acquisition of Arbitrum using your preferred payment method. After the process is complete, you'll find the Arbitrum in your wallet.
For those holding different digital currencies and looking to acquire Arbitrum, BlockWallet facilitates this process. You can select the cryptocurrency you wish to exchange and opt for Arbitrum as the desired digital currency to receive. BlockWallet will handle the swap. Once completed, your wallet will reflect the acquired Arbitrum.
BlockWallet provides a bridging feature for transferring cryptocurrencies from various blockchains to Arbitrum. This utility enables you to connect your wallet and select the digital currency and the amount you intend to transfer. It allows for the selection of assets from diverse blockchains to be bridged to the Arbitrum network. Upon confirming the transaction and taking care of any necessary gas fees, your chosen assets will be securely moved and converted. They will then be accessible in your BlockWallet, either as Arbitrum or as a wrapped version of the original digital currency.
How to use BlockWallet as an Arbitrum Wallet
If you havent, first you need to download the wallet. Check Download & Install The Wallet guide
Than you can follow Switch Networks & Reorder Your Network List
It's that easy!