📘┃Get started on Arbitrum
Arbitrum is built by Offchain Labs, which consists of world-class blockchain engineers, researchers, and Ethereum experts. Arbitrum One main-net launched on the 31st of August 2021.
Arbitrum serves as Ethereum's next-generation layer-2.
The layer-2 solution facilitates transactions through off-chain means before bundling and submitting them as a single transaction to the base layer, thus supporting Ethereum scaling. As a result, layer-1 Ethereum transactions will not be slowed down by a tremendous amount of transaction requests.
Arbitrum is an Optimistic Rollup solution. Optimistic rollups are smart contracts that bundle transactions, reducing computation time and gas consumption. By utilizing Optimistic Rollups, Arbitrum can ensure inexpensive gas fees while relying on Ethereum's L1 security.
Arbitrum successfully migrated the existing Arbitrum One network to Arbitrum Nitro on 31st of August 2022.
Prior to this, Arbitrum throttled transaction throughput in order to maintain network performance. As a result of upgrading to Nitro, these limitations have been lifted, allowing the network to handle many more transactions. Even though Arbitrum offered up to 95% lower fees than Ethereum main-net before the nitro upgrade, the data suggests that nitro further reduces fees by about 25%. Click here for more information about Arbitrum and the team behind it.
As with any other chain, Arbitrum has a similar onboarding process. Adding support for Arbitrum to your wallet is all you need to do, and then you can transfer funds to the network through one of the bridges that offer Arbitrum transfer support, or simply send funds from a centralized exchange.