Binance announces Arbitrum: What should you know?

Today Binance announced that they have integrated Arbitrum One Integration and started accepting ETH deposits.

What is the Arbitrum?

It is a third-generation layer protocol that will be used in the rollup mechanism. It runs on the off-chain Ethereum contract, which will significantly decrease transactional pricing.

This will allow Binance users to deposit ERC-20 tokens by paying a fractional amount. The withdrawal function will be available soon, with all the centralized structure, and support.

This will lower the congestion in the Ethereum Blockchain network. It is a massive step for Binance in the context of decentralized exchanges gaining popularity.

The organization said that more information will be available soon. It will work for Ethereum 2.0, and its extended scalability.