If you were at least a little curious how difficult (or easy) it would be to rank up, and what those ranks were, in multiplayer, you can finally rest easy. The ranking system has finally been revealed to us all in a new post on 343 Industries blog.
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Those 7 ranks are tiers; bronze, silver, gold, platinum, diamond, onyx and finally champion. Within the bronze through diamond tiers are six ranks you can achieve. You'll be going through each of those ranks and can only move on to the next tier after getting to the sixth.
Of course they'll be implementing a seasons feature to further bolster competition in the Arena. There will be monthly rewards available if you do well. The CSR you've earned will be reset in certain playlists and you'll be able to start fresh each month to see just where your skills lie. Each season, then, will be a month long event.
Multiplayer Halo is perhaps one of the more satisfying console FPS experiences, because of the fanciful and well-created environments to the overarching story that also plays into that multiplayer experience.