What is AR coin used for?

The use of the AR token as a medium of exchange within the Arweave ecosystem fosters a sense of community and shared interest among users. It promotes collaboration and trust, as all participants are invested in the long-term success of the network.

The AR token, being the native currency of the Arweave network, serves a pivotal role in the ecosystem. It is primarily employed for two main purposes: facilitating transaction fees and rewarding miners.

Users of the Arweave network leverage the AR token to cover the costs associated with data storage. This process ensures that the network remains operational and accessible for all users, fostering a robust and sustainable digital archive.

The transaction fees collected through the AR token not only cover the immediate costs of storage but also contribute to a larger endowment fund. This fund acts as a safety net, providing miners with a steady income stream over time.

By ensuring miners are adequately rewarded, the AR token plays a crucial role in maintaining the economic stability of the Arweave network. It incentivizes miners to continue participating in the network, ensuring the perpetual storage and accessibility of data.