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Huobi Global cooperates with Arbitrum to provide deposits and withdrawals

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Huobi Global, one of the world’s leading digital asset exchanges, announced today technological cooperation with Arbitrum, a market-leading Optimistic Rollup solution, developed by Offchain Labs, aiming to allow users to experience a more convenient, faster, and much safer service brought by the new generation of Layer-2 technology.

As a continuously developing and innovative exchange, Huobi Global has been focusing on the forefront of blockchain technology to provide users with safe and efficient services. Next, the Exchange Wallet will support Arbitrum to allow more users to experience the more convenient, faster transaction confirmation, and lower gas costs brought by this new generation of Layer 2 technology. 

Users can seamlessly experience the interaction of assets on Layer 2 without having to interact with bridging through Ethereum mainnet. Huobi Global is still undertaking the technical due diligence to implement the deposits and withdrawals directly into Arbitrum and plans to release more information about this in the near future. 

“Arbitrum’s excellent features in scalability, especially compatibility with Ethereum give us reason to believe that the technological collaboration with Arbitrum will further optimize the user experience and promote the development of the blockchain industry,” shared Jeff Mei, Director of Global Strategy.

About Arbitrum

Arbitrum is a scaling solution for Ethereum developed by Offchain Labs that drastically reduces costs and latency. An 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 most 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 public release this month.

About Huobi

Huobi Group is a world-leading company in the digital economy space, with a mission to create breakthroughs in core blockchain technologies and integrate blockchain technology into other industries.

With a focus on both upstream and downstream sectors, Huobi Group has expanded operations with industry blockchains, public blockchains, digital assets trading, crypto and blockchain wallets, industry research, and more.

Disclaimer: This is a paid post and should not be treated as news/advice.

With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.

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