Arbitrum Ecological Domain Name Service ARB ID Phase 1 Completed, Phase 2 Opens

02/19/2023 06:29 • NFT Newsflash • 127 views

On February 19, it was reported that the auction of the first phase (Phase1) of Arbitrum Ecological Domain Name Service ARB ID was over, and the second phase (Phase2) would be opened at 2:00pm (22:00 Beijing time) on February 20. According to official data, the auction premium of 10712 domain names in ARB ID Phase1 is 183.59 ETHs. The auction premium will be fully distributed to all participants in Stage 1 and Stage 2. If the user has not won any auction, the quota will still be valid in Phase 2.

The auction of the first stage of the domain name service ARB ID is over, and the second stage will be opened at 22:00 tomorrow

Interpret the above information:

Arbitrum Ecological Domain Name Service (EDNS) is a platform that uses blockchain technology to provide secure and decentralized domain name services. On February 19, it was reported that the first phase of ARB ID had been completed and the second phase would be opened on February 20.

The first phase of the ARB ID auction saw a premium of 10712 domain names being sold for 183.59 ETHs. This premium will be distributed among all participants in both Stage 1 and Stage 2 of the auction. Even those who didn’t win any domain names in the first phase will still have their quota valid for the second phase.

The ARB ID platform offers several benefits to users such as lower costs, faster resolution times, and increased security. It uses blockchain technology to ensure that domain names cannot be hijacked or tampered with, making it a more reliable option than traditional domain name services.

The auction of ARB ID domain names is an important step in the development of the platform. It allows more people to participate and acquire domain names that they may not have been able to obtain otherwise. It also generates revenue that can be used to fund further development and expansion of the platform.

Three keywords that can be associated with this message are ARB ID, blockchain, and decentralized. ARB ID is the name of the platform that is being auctioned, while blockchain technology is used to provide a secure and decentralized domain name service. The decentralized nature of the platform ensures that no single entity has control over it, making it more reliable and trustworthy.

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