The Arbitrum token is one of the youngest coins in the market. The token generation event occurred on March 23, 2023, and within less than a month, ARB climbed to the top of ratings.
What Is Arbitrum?
Indeed, the popularity of the ARB token can be understood. Arbitrum is an Ethereum layer-2 scaling solution. It is developed to assist the Ethereum blockchain in processing transactions and preventing network overloads and an increase in transaction processing fees. Arbitrum was developed in 2021 by Offchain Labs, and since then, it has become one of the most demanded Ethereum scaling solutions.
What Is the Arbitrum Token?
ARB is the native token of Arbitrum. Unlike other blockchains, Arbitrum didn’t hurry with the token launch which was announced on March 16 via their Twitter account, and the token generation event occurred on March 23.
$ARB is a governance token. Offchain Labs announced with the token release that they are shifting to an Autonomous Decentralized Organization (DAO), and the token holders can vote on proposals that affect the project features upgrades, and other matters relevant to the project management and development.
$ARB has already attracted the attention of investors and traders because of its potential for further growth. The project has ambitious plans among which the following milestones reached in 2023:
- Launching a layer-three solution called Orbit
- Enabling developers to write programs in Rust, C+, and other popular programming languages
- Expanding its validator set to include institutional validators
- Moving its protocol to layer two with Arbitrum one.
Compared to similar solutions, the main benefits of the Arbitrum protocol are the following:
Compatibility: any existing Ethereum decentralized application can run on Arbitrum.
Scalability: the network is able to handle thousands of transactions per second.
Flexibility: developers can deploy apps written in the majority of programming languages.
Decentralization: the protocol relies on a decentralized network of validators.
Where to Buy $ARB
ARB is available for swaps on all major centralized exchanges such as KuCoin, Binance, OKX, among others. If you want to purchase ARB without KYC, mandatory account registration, and without upper limitations, the best place to do so is to use LetsExchange.io. On our platform, you can purchase it for any of 4,000+ supported coins, instantly, at the best rates.
If you register an account on LetsExchange, you can benefit from statistical data on your swaps, the most frequently exchanged coins, and similar. Also, we will be sending you notifications about special events and promo codes.
Here is how you can purchase ARB on LetsExchange:
- Open the exchange widget.
- In the You Send field, pick a coin you want to exchange for ARB. Indicate the number of coins you want to sell.
- In the You Get field, pick ARB.
- Copy-paste the receiving wallet, provide a promo code if you have one, and proceed with the swap.
Further, you will be asked to make a deposit in coins you want to sell to a wallet provided by the platform. Do so, and wait until the transaction is completed.
Where to Hold ARB?
ARB can be held in any multi-coin hot wallet such as MetaMask or TrustWallet. For more safety, you can opt for a cold wallet such as Trezor or Ledger.
Conclusion
Arbitrum is one of the most popular layer-2 solutions for the Ethereum blockchain. The plans of the project developers and founders are ambitious, and the project is likely to grow in value in the long term. Thus, ARB may be a very wise investment.