Binance integrates Ethereum Layer 2 scaling solution, Arbitrum One
Arbitrum One core network has now been fully integrated by Binance, the cryptocurrency firm announced earlier today. This has paved the way for Ether withdrawals on Arbitrum One Layer 2, which is a scaling solution for the Ethereum network.
Arbitrum One is the beta mainnet of a layer-2 optimistic rollup protocol that enables off-chain Ethereum transactions that are faster and cheaper as compared to the Ethereum mainnet.
Binance users can now deposit all ERC-20 tokens from the Ethereum network, with the Arbitrum side chain at lower costs, and all users have been assigned ether deposit accounts, according to the announcement. The exchange further noted that ETH withdrawals will also be enabled Arbitrum One Network Layer 2 on a forthcoming date,
Read more on ambcrypto.com
