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Arbitrum (ARB)

What is Arbitrum One?​

Here are 5 key points about the Arbitrum Blockchain:

  • Arbitrum One is a layer 2 scaling solution for Ethereum, designed to improve the scalability and throughput of the Ethereum network which utilizes Optimistic Rollup Technology as its scaling mechanism.

  • The Optimistic Rollup Technology bundles multiple transactions off-chain and submits a succinct summary (rollup) of these transactions to the Ethereum mainnet for verification.

  • By processing transactions off-chain, Arbitrum offers reduced transaction fees and provides fast transaction finality, with completed transactions settled on the Ethereum mainnet within a relatively short timeframe.

  • Arbitrum ETH is the currency used to pay gas fees and all Arbitrum transactions. You can bridge ETH (and other tokens) from Ethereum to Arbitrum through Arbitrum's bridge.

  • The Arbitrum token (ARB) is an ERC-20 governance token that allows its holders to participate in the Arbitrum DAO's on-chain governance protocol.

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Learn more about the Arbitrum by reading the Gem Wallet Learn article:
What Is The Arbitrum Blockchain?

Arbitrum on Gem Wallet​

Gem Wallet has the following features enabled for Arbitrum:

ARB on GEM WalletSwap ARB on GEM Wallet

What are Arbitrum ERC20 tokens?​

  • ERC20 tokens are a type of digital assets issued via smart contracts on the Ethereum network.
  • Arbitrum supports the transfer and interoperability of ERC20 tokens from the Ethereum network to the Arbitrum network. Arbitrum itself does not have its own native ERC20 tokens.
  • They allows users to access a wide range of ERC20 tokens and decentralized applications (dApps) on Arbitrum while benefiting from its scalability and low transaction fees.

ARB ETH on GEM WalletARB ERC20 Tokens on GEM Wallet

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Learn more about ERC20 tokens from this Gem Wallet Learn article: What Is ERC20 and What You Need to Know About Tokens on the Ethereum Blockchain

How to Get Arbitrum ETH?​

Here are some ways to acquire some Arbitrum Ethereum (ETH):

  • Buy Arbitrum Ethereum (ETH) directly on the Gem Wallet app.
  • Receive ARB ETH with the unique Arbitrum Ethereum address on the Gem Wallet app.
  • Swap ERC20 tokens to ARB ETH. This requires that you already have ARB ETH on your wallet to pay for fees.

Buy ARB on GEM WalletReceive ARB on GEM Wallet

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Send only Arbitrum Ethereum (ETH) on the address.

Transaction Fees on Arbitrum One​

The fees on Arbitrum are summarized as follows:

  • Users conducting transactions on the Arbitrum network pay fees denominated in Arbitrum Ethereum (ETH).
  • Compared to Ethereum's mainnet, Arbitrum's transaction fees are generally lower, making it more cost-effective for users to interact with decentralized applications (dApps) and transfer assets.

Swap ARB ETH to USDC Fee Swap ARB to ARB ETH Fee

How to Check Arbitrum (ARB) Balance?​

Gem Wallet app connects to the Arbitrum Network to show the ARB balance on your wallet. Tap on the 3 dots at the upper right corner, then tap on View address on ArbiScan.

View Address Link to ArbiScan ARB Address on ArbiScan

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ArbiScan is the default ARB explorer of Gem Wallet. You can manually check balances and transactions by going to ArbiScan and search for your ARB address.