What Is Arbitrum Bridge? Bridge To Arbitrum Quickly In 30s

Table of Contents

What is Arbitrum Bridge?

Arbitrum Bridge is the main gateway to transfer ETH and ERC-20 tokens from Ethereum (Layer 1) to Arbitrum (Layer 2).

You only need to connect your wallet to initiate the bridging process on Arbitrum Bridge.

Learn how to bridge to Arbitrum in the section below.

What is Arbitrum?

The concept of Arbitrum

The aggressive growth of Ethereum in the last few years has led to frequent network congestion and soaring transaction fees.

This issue is so-called the problem of scalability due to network infrastructure limitation.

Therefore, various scaling solutions such as Layer 2, sidechains have been introduced to support the Ethereum network (Layer 1).

Those new chains help users to transfer assets to a faster and cheaper environment that running parallelly to the Ethereum blockchain.

Arbitrum is one of those projects. It uses the idea of optimistic rollups to lower gas fees for transactions.

Basically, optimistic rollups allow smart contracts to “roll up” off-chain transactions into bundles, which spreads the costs of the bundled transactions efficiently.

As a result, Arbitrum optimistic rollups can lower gas fees and reduce network congestion, while enduring high security standards.

Arbitrum was developed by Offchain Labs, a New York-based company.

The network was built with certain advantages.

Trustless security: Security established by Ethereum network, with interoperability results between Layer 1 and Layer 2.
Compatibility with Ethereum: Capable of running unmodified EVM contracts, or unmodified Ethereum transactions.
Scalability: Shift contracts’ computation and storage off the main Ethereum chain, allowing much higher throughput.
Minimum cost: Minimize cost per-transaction incomparison to Ethereum.

Arbitrum Team

Ed Felten – Co-Founder & Chief Scientist of Offchain Labs – Princeton profile
Steven Goldfeder – Co-Founder & CEO of Offchain Labs – Linkedin profile
Harry Kalodner – Co-Founder & CTO of Offchain Labs – Linkedin profile

Investors

Arbitrum project raised a $20 million Series A in April 2021, promptly followed up by a $100 million Series B guided by Lightspeed Venture Partners that closed in August 2021.

Other investors include Pantera Capital, Ribbit Capital, Polychain Capital, Redpoint Ventures, Alameda Research and Mark Cuban.

Arbitrum RPC

Arbitrum One RPC

Chain ID: 42161
Network Name: Arbitrum One
RPC: https://arb1.arbitrum.io/rpc
Currency Symbol: ETH
Block Explorer URL: https://arbiscan.io

Arbitrum Nova RPC

Chain ID: 42170
Network Name: Arbitrum Nova
RPC: https://nova.arbitrum.io/rpc
Currency Symbol: ETH
Block Explorer URL: https://nova-explorer.arbitrum.io

Add Arbitrum RPC to KEYRING PRO

Arbitrum is supported natively on KEYRING PRO, but you may learn how to add RPC on KEYRING PRO in the steps below.

Download KEYRING PRO on iOS, Android, APK, Huawei App Gallery, or Mac M1
Create a multichain account
Add RPC

On home screen, tap ‘Menu’ icon
Choose ‘Manage Chains’
Tap on the ‘+’ icon
Insert RPC parameters, please refer to the RPC section above.
Tap ‘Add’
On the home screen, choose an address you want to use on the newly added chain, or you can create a new account
Choose ‘Use this address with other chains’
Choose the newly added chain
Tap ‘Create’

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