Binance opens layer-two ETH deposits with Arbitrum One integration
Binance users can now deposit any ERC-20 tokens from the Ethereum network using Arbitrum quickly and at a reasonable cost. On Friday, Binance announced the integration of the Arbitrum One core network and opened Ether (ETH) deposits on the Arbitrum One layer two.Arbitrum is a third-generation layer-two optimistic rollup protocol that runs on an off-chain Ethereum contract and has lower costs and faster transactions than on the Ethereum mainnet.The announcement notes that Binance users can now deposit any ERC-20 token from the Ethereum network with Arbitrum at a reduced transaction cost. In....
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Layer 2 TVL has more than doubled over the past couple of months, hitting a new all-time high of $5.64 billion. The total value locked (TVL) on Ethereum layer two (L2) networks has surged to a new peak as gas fees continue to steadily rise. Layer 2 analytics platform L2beat currently reports that the total amount of ETH locked across various L2 protocols and networks has reached an all-time high of $5.64 billion. L2 scaling solutions provide much higher transaction throughput and lower transaction fees, and they have surged in terms of adoption in November which has seen the highest....
Financial asset manager giant Franklin Templeton is the latest merging legacy financial mechanisms with blockchain technology. This leading global asset management firm expanded its digital asset integrations by launching its OnChain US Government Money Fund (FOBXX) on the Arbitrum network. Following this debut, Arbitrum network native token ARB has seen a significant surge in market price, adding to the overall bullish crypto prices today. Related Reading: Arbitrum Attracts Over 48% Of Assets From Ethereum: Why Is ARB Down 68% In 7 Months? Government Money Fund On Arbitrum As reported in....
Bybit puts its money and faith in BitDAO and pledges recurring contributions now that its integration with the L2 Arbitrum network is complete. The news about crypto derivatives exchange Bybit was two-fold Thursday, as the company announced via Twitter its $134 million contribution to the BitDAO Treasury in the form of Ether (ETH), Tether (USDT) and USD Coin (USDC), as well as the completion of the integration of Ethereum layer-2 solution Arbitrum.Currently, BitDAO has one of the largest decentralized treasuries and it recently funded a $200M zkDAO to further build on zkSync and scale....
On August 4, Arbitrum One, the layer two (L2) Ethereum scaling solution, announced the protocol will implement a significant upgrade called Nitro in 25 days. The highly anticipated Nitro migration will take place on August 31, exactly one year after Offchain Labs, the Arbitrum project maintainers, launched the Arbitrum One mainnet. The Arbitrum team says that developers need to prepare contracts and users should get prepared for faster transactions and lower fees.
Offchain Labs Reveals Migration Date for Arbitrum One’s Nitro Upgrade
Two days ago, the official Arbitrum....
As one of the after-merge solutions, Ethereum added Arbitrum to its layer-2 mainnet. The Ethereum network expects the Arbitrum scaling tool to eliminate the problem of high transaction fees and optimize network scalability. Arbitrum scaling tool enables users access to DeFi applications. Arbitrum network makes token swap almost extremely cheap at 0.60 cents. The recent […]