Ethereum is the world’s leading popular blockchain platform, widely adopted for decentralized application (DApp) development. The increasing proliferation of DApps on Ethereum causes some major obstacles in user experience, typically the issue of On-chain transaction fees and transaction processing speed.
Congestion and rising gas fees have paved the way for many alternatives. Arbitrum is a Layer 2 scaling solution of Ethereum that helps users optimize costs, and reduce the volume of transactions to be processed, while still ensuring the safety and security of the original network.
In version 1.1.9, RICE Wallet now supports trading on the Arbitrum Mainnet and the integration of DApps built on the Arbitrum network.
What is Arbitrum?
Arbitrum is a Rollup chain developed on Ethereum and secured by the Ethereum Blockchain itself. The platform is designed to allow developers to easily run unmodified Ethereum virtual machine (EVM) contracts on Layer 2, fully compatible with Ethereum but far more optimized in terms of gas fees and transaction speed.
Arbitrum uses ETH as the native token for in-network transactions. Users can convert assets from Ethereum blockchain to Arbitrum blockchain through the Cross-chain Bridge portal: https://bridge.arbitrum.io/
How to convert tokens from Ethereum to Arbitrum on RICE Wallet:
- On the main screen, select the DApps feature, Ethereum network.
- Access Arbitrum Bridge at: https://bridge.arbitrum.io/
- Connect wallet to DApp
- Enter the number of tokens to be transferred.
- Confirm the transaction and check the ETH balance in your wallet on the Arbitrum network.