Home Latest News Binance announces Arbitrum: What should you know?

Binance announces Arbitrum: What should you know?

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

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