The pNetwork enables assets to move freely across blockchains through a cross-chain system, taking the integrations with ten different blockchain protocols into account.
The Arbitrum is a Layer 2 solution that is designed to improve the capabilities of the Ethereum smart contracts. It claims to use so-called Optimistic Rollups to increase capacity, reduce costs, and scale dApps. The aim of Arbitrum is to help in offloading the computational and storage burden that Ethereum suffers from at present. This has helped enable a new class of L2 Apps.
The pNetwork’s Token bridges provide a general purpose and secure foundation for making token movement possible. pNetwork nodes focus on enabling meaningful connections between multiple blockchain environments.
Users can begin migrating the Bitcoin assets to Arbitrum through the pToken dApp. Users are waiting for the launch of the growing Arbitrum Ecosystem. The deposits and withdrawals from Bitcoin to Arbitrum Network will take only a few minutes. This will be a fast way to move the liquidity cross-chain. Even wrapped BTC users can benefit from pNetwork’s fast-track by entering or exiting Arbitrum via pBTC.
This Bitcoin-Arbitrum bridge, which has been powered by pNetwork, is able to connect the Bitcoin blockchain directly with the Layer 2 solution, making it a more cost effective solution to onboard Bitcoin to DeFi Platform.
Many new projects have been initiated on Arbitrum. Users can manage their Arbitrum compatible wrapped BTC assets via many well known digital wallets like Metamask and Wallet Connect, for better interface in the ecosystem. The key element to the success of the various platforms on Arbitrum shall be strong community support and management of pTokens.