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pastry

Sep 12, 2021 • 8 tweets • 3 min read • Read on X

Arbitrum One is seeing incredible growth since its launch, recently skyrocketing its way to the #2 spot in TVL for #Ethereum bridges.

Want to get started in the fastest growing Layer 2 on $ETH?

Here’s how:

Step 1. Download web3 wallet

Just like Ethereum, Arbitrum is a network meaning you will have to configure your web 3 wallet in order to connect to dapps

You can do this with wallets such as Metamask, and you’ll need to be holding eth

Step 2. Add the Arbitrum One network

>Click on the Metamask extension
>Click “Ethereum Mainnet” network
>Click Custom RPC and enter the following:

Step 3. Switch from Arbitrum One back to Ethereum

Once you’ve added the Arbitrum Network, you will need to switch back to $ETH Mainnet

The network will be displayed at the top of your Metamask

Once you’re on Ethereum Mainnet, head to bridge.arbitrum.io

Step 4. Deposit tokens from L1

On the Arbitrum Bridge, enter the amount of tokens you wish to bridge over then click “Deposit” & follow the prompts in Metamask (this step will require a small fee for gas)

Step 5. Wait about 10 minutes for you funds to arrive

After the deposit is made, there will be a link to the transaction on the bottom of the page where you can view its status.

Make sure you switch back to arbitrum network in order to see your funds when they arrive

Step 6. Explore the dapps

A comprehensive list of dapps on Arbitrum can be found at:
portal.arbitrum.one

Some of the most popular dapps deployed on Arbitrum are sushi, Uniswap, and hop protocol

Since i’m sure some are curious, here’s what a transaction looks like using Arbitrum on uniswap

Instant finality & .0019 $ETH ($6.5) fee!

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More from @PastryEth

pastry

@PastryEth

Dec 30, 2023

In February 2022, government agents swiftly entered a high-rise in NYC.

Their target: two individuals with over $4.5 billion in stolen crypto assets.

Their findings unraveled a fascinating story behind what is now the largest crypto seizure ever..🧁

This sum of money stems from a fateful evening on August 2nd, 2016.

On this day, investors were faced with terrible news: A crypto exchange had been hacked for 125,000 BTC.

Immediately succeeding the news, the price of Bitcoin plummeted 20%+.

The culprits?

No, it wasn't a group of North Korean hackers, or some teenage prodigies.

Instead, we have Heather Morgan, also referred to as "Razzlekhan."

Heather is a self-proclaimed economist, software CEO, and rapper.

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pastry

@PastryEth

Apr 13, 2023

Layer 2 rollups have helped Ethereum scale by an order of magnitude.

Soon, there will be an upgrade that will reduce the cost of them by 10-100x, and shepherd in a new era of low cost on-chain activity..🧁

What is EIP-4844?

EIP-4844, also referred to as "Proto Danksharding" is an upgrade to Ethereum moving towards adopting an architecture called "sharding."

Sharding is a method that improves scalability by dividing a blockchain network into smaller units called ‘shards.’

Such a system enables multiple shards to process transactions in parallel, drastically improving scalability.

Read 10 tweets

pastry

@PastryEth

Mar 17, 2023

@arbitrum

How much will the @arbitrum airdrop be worth?

Let's dive into the protocol and compare it to its competitor to make an educated guess on how much one $ARB might be worth..🧁

Arbitrum and its competitor Optimism are layer 2 solutions designed to help Ethereum scale.

Layer 2 solutions process transactions off-chain, allowing for faster and cheaper transactions that are then settled on Ethereum.

Both Arbitrum and Optimism use a technology called Optimistic Rollups to bundle txs into a single proof and submit it back to Ethereum mainnet.

They differ in their smart contract compatibility, dispute resolution mechanisms, block confirmation times, & withdrawal periods.

Read 12 tweets

pastry

@PastryEth

Mar 14, 2023

Recent events have shed light on how fragile our stablecoin ecosystem is.

Many are still reliant on centralized parties and expose us to their risks.

For this reason, I think we will see a huge shift toward decentralized stablecoins.

Below is my best bet on this narrative..🧁

Before jumping straight into the protocol in question, I would like to point out a few things about what unfolded this past week.

While a great stress test, it should raise some important questions for those involved in the cryptocurrency space.

Namely:

"Is it really decentralized finance if the fault of a single bank could result in our downfall?"

"Have we placed too much trust in centralized parties?"

"Has crypto become too dollar dependent?"

If you haven't asked yourselves these questions, the time is now.

Read 19 tweets

pastry

@PastryEth

Mar 3, 2023

EigenLayer.

An idea so big that if it works, it will absorb the majority of $ETH in existence.

What is restaking, and how might it help hyperscale Ethereum? 🧁..

Eigenlayer is a protocol built on Ethereum that introduces the concept of "restaking."

Restaking allows users to re-use their staked ETH to secure multiple networks and earn rewards on their extended capital.

EigenLayer aims to address the challenge of fragmented security across Actively Validated Services (AVSs).

AVSs are systems used by modules that rely on inputs from outside of Ethereum, such as sidechains, data availability layers, keeper networks, oracles, bridges, etc.

Read 12 tweets