The past couple of months hasn't been all nice regards to Ethereum usage, the most popular gradually declining in usage due to its overpriced gas fee
Ethereum brought smart contract into existence and also brought about web3 development, devs found ways to make applications run on blockchain which are later called DApps, they are monetized and filled with various types of incentives to reward users daily and keep the inflow of new users constant but along the way it had a side effect which was network congestion.
Network became highly congested and what took seconds to process later went to mins and some even hours, the only way to pass through this huddle was an increase in fee which makes your transaction more important than others, Ethereum which was user friendly over night turned to an expensive to use blockchain making every day usage for the many masses somewhat impossible.
Years later ETH 2.0 was announced, a fix that would make this high gas issue become obsolete and once again users will be able to make full use of the blockchain without much consideration into when gas fee becomes cheap or not.
At first, it worked to some extent and soon later the long days of seeing fees at $30, $50, and so on gradually became a thing of the past but this couldn't sustain, weeks later we were back to the high gas usage and the test for alternatives became necessary and behold Arbitrum was born.
What is Arbitrum?
Arbitrum is a scaling solution for Ethereum that drastically reduces costs and latency. A so-called “Optimistic Rollup”, Arbitrum instantly scales apps, reducing costs and increasing capacity, without sacrificing Ethereum’s security. Porting contracts to Arbitrum requires no code changes or downloads as Arbitrum is fully compatible with all existing Ethereum developer tooling. Arbitrum has launched Arbitrum One on Ethereum mainnet and is open for developers, and the team is already working with hundreds of teams ahead of its upcoming release to the public.
With this new development, devs will be able to port their DApps directly and enjoy the near zero fee of Ethereum Blockchain once again without doing any rework or months of planning.
Arbitrum is live on TokenPocket and users can easily create or import an existing ETH account over.
For those not familiar with TokenPocket, it is a noncustodial wallet that allows users to easily manage their crypto assets and also a DApp browser to access multiple DApps across different blockchains directly from their mobile device
TokenPocket is available on Android and IOS, users can easily download from any of the supported store, be it Appstore or Playstore.
To create Arbitrum wallet, you simply have to launch your TokenPocket wallet
Navigate to blockchain selection and scroll down until the option for Arbitrum comes up, if you are unable to locate it, simply ensure you have the latest version of TokenPocket installed
Click on Arbitrum and select account creation or import depending on your preference, if you have Eth account installed on TokenPocket prior to now, the option to sync existing wallets is readily available and this saves you time of having to import with private key or mnemonic phrase word
That's all for today, if you have any issue relating to creating a wallet on Arbitrum do leave a reply behind and I will get back to you soonest and until some other time, do have a fun filled weekend.
