Users of the Binance cryptocurrency exchange will now be able to carry out transactions with ERC-20 tokens with lower fees thanks to the integration of the second tier Arbitrum One solution.
According to the official statement of the exchange, in the future, the function of withdrawing ETH in the Arbitrum One network will also be added. Thus, Binance became one of the first centralized exchanges to support second-tier solutions.
Arbitrum One is a second-tier solution for scaling the Ethereum network. It is built on roll-up technology and significantly increases the bandwidth of Ethereum.
One of the features of the network is the dispute resolution mechanism. In the event of fraud or an accidental error in a transaction, Arbitrum “resolves the dispute in real time and reduces the amount of computation required to resolve it.”
As a reminder, in September, the total value of crypto assets blocked in the Arbitrum One network was more than $ 2.23 billion.
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