What is Ethereum (ETH)
Ethereum (ETH) is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.
- As of 2nd June 2023, Bitfinex supports both ETH Mainnet and Arbitrum One based ETH (ARBETH) token that can be converted via the Currency Conversion tool (see below).
- ARBETH (ETH on Arbitrum One) token holders will not be eligible for staking rewards; instead, they must convert first to ETH (Mainnet) using the Currency Conversion tool (see below), and then convert to ETH2 Pending (see here).
- The API symbol for mainnet Ethereum is ETH, while for the Arbitrum One based Ethereum is ARBETH.
ETH (Mainnet) can be easily converted to ARBETH (Arbitrum One) and vice versa by using the Currency Conversion tool on the Wallets page.
- Trading is available for ETH (Mainnet) coins only; in order to trade ARBETH tokens on Bitfinex, they need to be converted to Mainnet tokens.
- On Bitfinex, you can deposit and withdraw ARBETH on the Arbitrum One network.