The following steps will walk you through adding funds to your Gateway ETH account, including funding the ETH account on Ethereum Mainnet, bridging the funds to Arbritrum’s L2 Network, and then using the Livepeer CLI to allocate the proper deposit and reserve amounts.
In order to operate the Gateway in production you need to have Ethereum on Arbitrum One L2 Blockchain - which is where Livepeer’s smart contracts are deployed and which provides the payment layer for Livepeer.
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Each blockchain operates as it’s own network and uses it’s own currency.
Ethereum is the currency for the Ethereum L1 Network and Arbitrum ETH is the
currency for the Arbitrum L2 Network. Arbitrum is a scaling solution for the
Ethereum network - it operates by batching transactions and processing them
off-chain then reconciling them with the Ethereum mainnet, kind of like a
store would tally all their sales each day and reconcile their receipts.
This makes transactions on Arbitrum much cheaper than on Ethereum, while
still providing the security and trust of the Ethereum network.
If you have ETH on the Arbitrum L2 Network, you can simply transfer the funds
to the newly created Gateway ETH Account.
