Binance announced that it has completed the integration of its Ethereum scaling solution Arbitrum One. Now users will be able to deposit Ethereum to the platform through the Arbitrum One second tier.
https://twitter. com/binance/status/14615659999832973313
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Leading crypto-asset trading platform Binance has announced that it has fully integrated its Ethereum scaling solution Arbitrum One. Arbitrum One is the beta mainnet of a rollup solution developed by Offchain Labs. Rollups are extremely popular solutions for increasing the efficiency of Ethereum. While they process transactions outside the first layer, Ethereum’s main chain, they store data on top of it.
Although Binance assigns deposit addresses for its users, it is not yet known when the withdrawals will start.
What Does This Mean?
The integration was welcomed in the crypto community. As it is known, second layer solutions allow transactions with lower fees without sacrificing speed and security.