Arbitrum was launched in August 2021. It was one of the first in Ethereum layers-2s to use rollups and increase the number of transactions secured within the Ethereum network. This platform works on separate chains and collects, executes, and sells the batches before putting them on the main Ethereum blockchain. This allows users to complete their transactions on an Ethereum-like network with the same security assurance and low fees.
In simple terms, bridges are a way for users to move assets from one blockchain to another without any centralized intermediary. Before the introduction of bridges, this wasn’t possible for users, and they had to maintain the balance between different blockchains separately.
Bridges have different forms and functions. Some popular bridges allow users to access a large number of assets on multiple blockchains. Many bridges charge a small fee for their service, which can range from 0.001% to 0.005% of the bridge amount. Many bridges are also free and charge no fees.
The Arbitrum system involves many parts, but among them are four important ones. Their functions are:
The verifier checks the validity of the transactions and controls the spread of approved transactions.
This component is the protocol member that can handle money and start transactions.
This component in Arbitrum is a virtual participant that holds the necessary codes and data to specify the actions of the virtual machines.
The manager is the person who is responsible for managing the virtual machine and keeping a check on its developments. The manager also ensures that the VM is functioning properly.
There are many bridges to Arbitrum. Let’s see and understand some of their functions.
This is the official Arbitrum bridge that works on most of the Web 3.0 wallets and supports transfers between Ethereum, Arbitrum One, and Nova.
Portal Bridge is a famous Arbitrum bridge that supports 23 blockchains and some of the most important Arbitrum native assets.
Let’s explore some steps involved in bridging the Arbitrum. For this, we will look at the example of Arbitrum bridge to bridge Arbitrum one.
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