💡 What is Arbitrum?
Arbitrum is a revolutionary protocol that significantly improves the speed and affordability of Ethereum transactions. It enables developers to create decentralized applications, or dApps, by drastically increasing the network's throughput while maintaining the same level of security as Ethereum. With Arbitrum, transactions can be processed much faster and at a much lower cost than on the mainnet, making it an appealing alternative for users and developers seeking to evade the high fees and network congestion on Ethereum.
The flagship chain Arbitrum One, launched in 2021, and soon after came Arbitrum Nova, a separate AnyTrust chain that facilitates ultra-low-cost transactions. In August 2022, the Arbitrum Nitro stack was introduced, boosting scaling capabilities by 7-10x.
Governance of Arbitrum One and Arbitrum Nova, as well as their underlying protocols, is decentralized via the distribution of $ARB governance tokens. Token holders can vote on Arbitrum DAO governance proposals or delegate their voting power to delegates, allowing $ARB holders to collectively shape the future of Arbitrum.
💡 What makes Arbitrum unique?!
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High throughput: Arbitrum is capable of processing 40,000 transactions per second, greatly increasing the overall throughput of the Ethereum network
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Fast finality: Arbitrum provides fast finality, meaning that once a transaction is confirmed, it cannot be reversed or altered
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Low fees: By using an Optimistic Rollup, Arbitrum is able to significantly reduce the cost of transactions, making it a more affordable option for users and developers.
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Decentralized: With the recent airdrop of $ARB tokens to Arbitrum enjoyers and protocols with treasuries, Arbitrum has shifted to a decentralized DAO with the community having a say on what’s going to be the future of the chain.
📖 You can visit their documentations page for more information
💰How to buy $ARB on SushiSwap:
- Get the Metamask (or any other wallet of your choice) wallet browser extension at https://metamask.io/.
- Buy ETH at any fiat-token gateway, and send ETH to your Metamask.
- Head over to https://bridge.arbitrum.io/?l2ChainId=42161 to bridge your ETH from Mainnet to Arbitrum One
- If your Metamask doesn’t show Arbitrum One yet, head over to https://chainlist.xyz/ and connect your wallet.
- Head over to app.sushi.com/swap to swap from ETH to ARB
- Click on “swap” and confirm the transaction in your Metamask Wallet. You may also be asked to sign a Bentobox transaction if this is your first time to purchase $ARB with $ETH.
- Add $ARB token to Metamask by selecting import token and entering the $ARB Arbitrum contract: 0x912ce59144191c1204e64559fe8253a0e49e6548
- You should see your tokens in your wallet now!
💸 Bonus: Learn how you can earn a portion of the trading fees by becoming a Liquidity Provider in this tutorial.
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