Arbitrum Nitro launched on August 31 just six days ahead of the Ethereum 2.0 launch date of September 6, 2022. Coincidence?!
What is Arbitrum?
Arbitrum is a scaling solution for the Ethereum blockchain. It is a Layer 2 software that helps Ethereum increase productivity, scale, and meet demand. Arbitrum is cheap and easy to use, costing only cents per transaction, whereas transactions on Ethereum cost several dollars; this means 90 to 95% lower fees than the mainnet.
What does the Arbitrum Nitro upgrade mean?
The Nitro upgrade for Ethereum aims to enable even faster transactions and lower fees than Arbitrum One. The limitations seen previously have been lifted which increases the number of transactions the network can manage. The upgrade was able to condense the transaction data that it sends to the mainnet for verification. Nitro was able to lower the transaction fees more by decreasing the number of zero bytes in Arbitrum transaction batches, which is expected to reduce the fees by an additional 27%.
Which hardware wallets are best for Ethereum (ETH)?
Trezor Model T - The Crypto Community’s Favorite Hardware Wallet
This hardware wallet features a color LCD touchscreen, built-in mobile connectivity, password manager, easy backup, magnetic dock, and a tamper evident holographic seal.
SecuX W20 - Easy-to-View Hardware Wallet for Ethereum
For those who want a large screen, the SecuX W20 has a 2.8 inch full color touchscreen. This wallet makes sending and receiving cryptocurrency easy. Your ETH will be safe and secure with pin words, layers of authentication, tamper-proof firmware, and offline seed phrase recovery.
Ledger Nano X - Best Compact Hardware Wallet for Ethereum
This hardware wallet ensures maximum security and keeps your Ethereum safe. The state of the art Secure Element chip keeps the seed and private keys entirely offline. You’ll never have to worry about the remote hacking risks of software wallets and exchanges because your wallet is completely decentralized. Plus, the Ledger Nano X is compatible with both iOS and Android devices.
There are exciting things ahead for Ethereum and the entire blockchain!