Key Points:
- Explains why you need to add Arbitrum to MetaMask, and provide a step-by-step guide on how to connect to the Arbitrum network using MetaMask, a popular crypto wallet that enables users to interact with Ethereum-based decentralized applications (DApps) and non-fungible tokens (NFTs).
- This guide is perfect for anyone looking to use Arbitrum and take advantage of its benefits. With just a few simple steps, you can add Arbitrum to Metamask and start using it today!
Discover how Arbitrum’s layer-2 scaling solution enhances the efficiency of smart contracts and provides affordable transactions. Learn how to connect to the Arbitrum network using MetaMask today.
Introduction
Arbitrum is a layer-2 scaling solution for Ethereum developed by New York-based Offchain Labs. This network aims to enhance the efficiency of smart contracts and transaction execution on the Ethereum network, reduce fees significantly, and add extra privacy features. L2 networks are software that sits on top of the base layer of a blockchain, like Bitcoin or Ethereum, to enhance the platform’s efficiency and provide affordable transactions.
With L2 solutions gaining traction, it has emerged as one of the most promising options. By leveraging Arbitrum, Ethereum users can enjoy faster, cheaper, and more private transactions. Moreover, they can access a wide range of DApps, including DeFi protocols, gaming platforms, and NFT marketplaces.
Offchain Labs raised $120 million in a Series B funding round in September 2021 to develop and improve the network. The network has been live on the Ethereum mainnet since August 2021, gaining significant adoption. According to data from Arbiscan, Arbitrum reached over 1 million daily transactions on February 2023, making it one of the most active L2 solutions since the beginning of the year.
As Ethereum continues to evolve, layer-2 solutions like Arbitrum will play an increasingly critical role in addressing the platform’s scalability challenges. Arbitrum’s success demonstrates the importance of building scalable and efficient L2 solutions to support the growth of the Ethereum ecosystem.
Arbitrum has recently launched a bug bounty program on Immunefi, with rewards of up to $2 Million for reporting critical vulnerabilities in its network. The program aims to enhance the security of the platform and protect users’ funds.
MetaMask: Install and Set up
MetaMask is a popular crypto wallet that enables users to interact with Ethereum-based decentralized applications (DApps) and non-fungible tokens (NFTs). It’s available as a browser extension for Chrome, Firefox, Brave, and Edge and a mobile app for iOS and Android. Here’s how to install and set up MetaMask:
- To prevent falling prey to fake pages, users must verify the authenticity of the MetaMask website before downloading the extension. It is recommended to download the correct extension from the official website.
- To install the extension on Chrome, navigate to the MetaMask website and click the “Download for Chrome” and “Add to Chrome” buttons.
- Once the MetaMask Chrome extension is installed, click “Get Started” on the welcome page.
- Select the “Import wallet” option to import your existing wallet and enter your wallet seed phrase.
- Alternatively, you can create a new wallet by clicking the “Create a wallet” button and creating a secure password to access it from your device.
- You will see important information about your seed phrase on the following page. This recovery phrase is the most critical security feature and backup for your wallet, enabling you to access it even if you forget your password or lose your device.
- To view your seed phrase, click the lock button and write down the words in the correct order. Store this information securely offline and avoid sharing it with anyone, as your assets may be at risk if someone gains access to your seed phrase.
- On the next page, you will be asked to repeat the seed phrase in the correct order to ensure it has been correctly noted.
- Click “Confirm” to finish and then “All Done” to access your new wallet.
Following the above process will automatically connect MetaMask to Ethereum. However, to add Arbitrum to MetaMask, follow the steps outlined below.
How to connect Arbitrum to MetaMask
To connect Arbitrum on MetaMask, follow these steps:
Open MetaMask and click the network dropdown menu near the MetaMask fox logo.
Once you click “Add network,” of the pop-up, Metamask will display a list of popular networks for you to choose from, making the process of picking up a network simpler and more accurate. You just need to click “Add” for each network shown on the list.
Otherwise, click “Add a network manually” when you scroll down to the bottom. From here, you’ll need to add the following Arbitrum network data:
- Network name: Arbitrum One
- In the “New RPC URL” field, enter the Arbitrum network URL: https://arb1.arbitrum.io/rpc
- In the “Chain ID” field, enter 42161.
- In the “Currency Symbol” field, enter “ETH.”
- In the “Block Explorer URL” field, enter the Arbitrum block explorer URL: https://arbiscan.io/.
- Click “Save” to add the Arbitrum network to your MetaMask.
Now, you can select the Arbitrum network from the network selection dropdown and interact with dapps and other features on the Arbitrum network through MetaMask.
How to add Token to the Arbitrum network in Metamask
To add Luxworld tokens to MetaMask, you must also add them manually. You will still receive the tokens, even if you haven’t added them yet to the wallet. However, they won’t show up until you import them manually.
Head to https://lux.world/
There you can find the details of the LUX token. LuxWorld Token (LUX) is built on Ethereum and developed as the native token of the metaverse.
| Token Name: | LuxWorld token |
| Token Symbol: | LUX |
| Token Decimals: | 18 |
| Blockchain: | Arbitrum One |
| Token Type: | ERC-20 | Governance | Utility |
| Circulation Supply: | 2,000,000,000 |
| Address: | 0x58b13de0b56c91497b1aaeb344be2a4d7d0478c2 |
- Always use a legitimate smart contract, as scammers could create a fake one.
- Go back to MetaMask and click “Import Tokens.”
- The next page will add the required details and the Luxworld token’s contract address. This action should be filled out automatically by MetaMask.
- Click “Add Custom Token” and then “Import Tokens.”
- Your wallet will now display the balance of the Luxworld tokens you added.
Once you set up MetaMask and add the Arbitrum mainnet, you’re ready to start using cryptocurrency efficiently and cheaply. You can send and receive crypto, collect NFTs, use Web3 applications, DApps, smart contracts and even swap cryptocurrency coins or tokens. You’ll be able to do everything you can already do in Ethereum with Arbitrum, but more cheaply and efficiently.
In conclusion, Arbitrum is a layer-2 scaling solution for Ethereum that aims to improve the efficiency of smart contracts and transaction execution on the Ethereum network, reduce fees, and add privacy features. The network has gained significant adoption since its launch, with over one million daily transactions as of February 2023. As Ethereum continues to evolve, layer-2 solutions like Arbitrum will play an increasingly critical role in addressing the platform’s scalability challenges.
Learn more about Luxworld:
Website: https://lux.world/
Twitter: https://twitter.com/luxworld_
Discord: discord.com/invite/Mub4Qu6Rwg
Telegram: https://t.me/luxworldofficial
Facebook: https://www.facebook.com/luxworld.official
Medium: https://luxworld.medium.com/
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
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