“You are a central part of the solution and it’s great to see all the progress done.”
So said Vitalik Buterin, ethereum’s co-founder, on Arbitrum’s Discord, congratulating them for “getting accepted as a withdrawal method by Binance.”
Binance announced on Friday “the Arbitrum One mainnet integration and opened deposits for ETH on Arbitrum One Layer 2… Binance will open withdrawal for Arbitrum One Network on a later date.”
If you have funds on Arbitrum therefore, instead of sending them to the base layer and then to Binance, you can just send them to Binance directly, making it a contained ecosystem.
Numerous dapps have now adopted Arbitrum, including Curve and MakerDAO. It handles 40,000 transactions a day, down from its peak of 250,000. Ethereum’s base layer currently handles 1.2 million transactions a day.