Arbitrum One has released its beta version of the Ethereum L2 scaling solution, the Arbitrum Bridge, on the mainnet on September 1st. This is a significant attempt to scale the Ethereum blockchain using roll-up technology and thus have a long-term effect on the future of the smart contract platform. Many people have recently been pushed off the Ethereum blockchain due to high fees and low transaction speeds. Arbitrum tries to solve this problem with a decentralized methodology while maintaining the security of the Ethereum base layer. Let’s see how you can use the bridge to transfer your funds.
- Go to Arbiscan, scroll down and select Add Arbitrum Network!
2. Alternatively, you can manually enter the following information into MetaMask’s RPC feature:
Send funds across the bridge
- Go to the Arbitrum Bridge here!
2. If you have installed MetaMask, it will now display a request to connect your wallet. If this doesn’t happen, connect them manually by opening the MetaMask screen! Then enter your amount of ether that you want to send over the bridge!
3. Click on Deposit! The system will show you the following window. Then click on Next!
4. Authorize the transaction in your MetaMask wallet!
5. Wait until the transaction is confirmed on the blockchain! Congratulations! Your funds have been sent over the Arbitrum Bridge. The stored ethers can be withdrawn from the second box. If you want to deposit tokens based on Ethereum, select ERC-20, open the Add Token text box and enter the contact address! You can find these on CoinGecko. Select the amount and click deposit! Authorize the transaction!
What can you do now with the tokens that you have sent over the Arbitrum Bridge? Check out this list on the Arbitrum Portal! You can now open every available dApp and then always select the Arbitrum network via your MetaMask. You can enjoy low fees and fast transaction times on the L2 scaling option. Try Uniswap, Sushiswap, Aave, Balancer, etc.! The product is still in beta, so be careful! All withdrawals take approximately a week or 7 days to be processed and sent back to the base tier.
About Arbitrum One
Arbitrum One is an Ethereum scaling solution that uses roll-up solutions to better scale the world’s largest smart contract platform. It is secured directly by the base layer and does not have its own ownership token. The EVM compatibility is given and Arbitrum also supports the Ethereum EPC interfaces. It lowers transaction costs and increases transaction speeds. It allows funds to be sent to the other side across the bridge.
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