Coin98 Labs
L1/L2 Cross Chain Bridges
Coin98 Wallet has released the Cross-Chain Bridge, allowing users to interact more with Layer 2 Scaling Solution by bringing the new bridges between Layer 1 and Layer 2. Cross-Chain Bridge currently supports 5 popular blockchains, as following Ethereum (ETH &ERC20); Binance Smart Chain (BEP20); Solana (SOL & SPL); Tron (TRC20) and Avalanche (C-Chain & X-Chain).
Arbitrum, Optmism and Boba Network are three newest member to join the Coin98 Wallet version 10.3.0

The overview of the relationship between Layer 1 and Layer 2

The increasing number of applications and users on Ethereum is responsible for increasing the load on the network while the capacity of the Ethereum network is limited. As a result, the cost of using the network increases prominently with more and more users competing with each other for adding transactions to the Ethereum network. Therefore, Ethereum Layer 2 scaling solutions are opening a new century to fix the problems with network performance. As of now, Layer 2 has fixed those following issues based on Layer 1: problems of scalability, high transaction fees, and delays in transaction settlement.

What is Optimism?

Optimism is a notable Ethereum layer scaling solution offering improvements in the affordable transaction fees. Plus, they also ensure prolific developments in transaction speed for Ethereum users.

What is Arbitrum?

Arbitrum is a remarkable Ethereum layer scaling solution by Off-chain Labs. There are three primary components of Arbitrum including validators, compiler, and the EthBridge. EthBridge is a decentralized application, which is deployed on the Ethereum mainnet, and serves as a connection between Ethereum mainnet and Arbitrum.

What is Boba Network?

Boba Network is a newest Ethereum layer scaling solution by the OMG Foundation and Enya teams offering improvements in fast delivery, cheaper transaction fees, and a more seamless experience for Ethereum users.

How I can transfer assets between Ethereum L1 and Ethereum L2

By using Coin98 cross-chain bridge, we provide those following bridges
  1. 1.
    Ethereum on mainnet to Ethereum on Arbitrum, vice versa Ethereum on mainnet to Ethereum on Arbitrum, vice versa
  2. 2.
    Ethereum on mainnet to Ethereum on Optimism, vice versa
  3. 3.
    Ethereum on mainnet to Ethereum on Boba Network, vice versa

How I can use those following bridges

Here is the guide to transfer Ethereum between Ethereum mainnet to Boba as an example, please guide yourself at the same steps with Arbitrum and Optimsim.
Step 1: Login, then select Swap, choose Cross-Chain Bridge (Ethereum <> Boba Network)
Step 2: Input (or scroll) amount you want to convert. Then, click Convert
After that there will be Confirm , you need to select Done to execute your order, or you could Cancel
Please give yourself wait around 20-30 minutes to omplete the order from Layer 1 to Layer 2
Step 3: Check your wallet (Boba Network)
If you wanna check your covert history, select icon History
Fees on Boba Network, for the most part, significantly lower than on the Ethereum mainnet.
For every transaction on Boba Network contains two costs: Your L2 (execution) fee and your L1 (security) fee. At a high level, the L2 fee is the cost to execute your transaction in L2 and the L1 fee is estimated cost to submit your transaction to L1 (in a rollup batch)
Fees will be paid by Ethereum.
Last modified 1mo ago