In this new guide, we will dive into Arbitrum, a layer-two scaling solution for Ethereum created by Offchain Labs. We will discuss how it works and how to add Arbitrum to your MetaMask wallet to take advantage of fast and reliable ETH transactions. So, let’s get started with Arbitum.
What is Arbitrum?
Arbitrum is a layer-two scaling solution designed to enhance the efficiency and speed of transactions on the Ethereum blockchain. It is open-source software that is non-custodial, meaning users on the platform always maintain control over their funds.
Offchain Labs created Arbitrum, intending to reduce congestion and gas fees on the Ethereum network. It allows users to execute transactions off-chain while maintaining the security of the Ethereum network.
Arbitrum uses a unique approach called Optimistic Rollup to achieve this. Optimistic Rollup is a layer two scaling technique aggregating transactions off-chain and submitting them to the Ethereum network in batches. This results in faster, more efficient transactions at a lower cost than executing them directly on the Ethereum network.
The first step is to create a MetaMask account and install the chrome extension. You can do this by heading to your browser’s extensions tab and searching for MetaMask. Then, click “Add to Chrome or Edge” to install the extension.
After the installation, pin the extension icon on your main browser window. This icon will help you have quick access to the wallet. After this step, click the icon, and it will open up on the side view of your tab. Finally, select the expanded view and click the three dots in the top right corner. Your wallet should open in a new tab.
Setting up Arbitrum on MetaMask
Once your MetaMask wallet is set up, you can add Arbitrum to it by following these instructions: First, click the MetaMask icon on your browser, and select the expanded view. Next, click the Settings button (it looks like a gear icon) at the bottom of the screen. This click should open a new page. Next, click on the “Network” tab. Finally, click the “Add Network” button to add a new network.
Adding Arbitrum To MetaMask
Before you can add Arbitrum to your MetaMask wallet, there are a few prerequisites you need to know. These include the network name and ID, chain ID, block explorer, currency of choice, and RPC URL. While the block explorer is optional, it’s good for many purposes.
To retrieve all the above requirements, you can visit the official website of Arbitrum. However, for the sake of this guide and to make it easier, here are the details you’ll need.
Go with the default URL, “https://arb1.arbitrum.io/rpc,” for the RPC URL. For the block explorer, you can use “https://arbiscan.io/.” Use 42161 as the default ID and ETH as the currency symbol for the chain ID. Once you have all these details, you can copy your wallet address and transfer tokens from the wallet more securely.
Adding Arbitrum to your MetaMask wallet is a delightfully simple process that can be completed in just a few minutes of basic work, as outlined in the previous section. With Arbitrum, you can enjoy faster transactions and lower fees, making it a great option for those looking to streamline their crypto transactions.
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