A blockchain network is a decentralized and public ledger or database that securely records transactions. In contrast to traditional centralized databases, where a single entity controls all the data, blockchain distributes information across a network of interconnected computers in a peer-to-peer fashion. Various blockchain networks serve different purposes; for instance, Bitcoin is designed for managing transactions of its native BTC token, while Ethereum supports diverse use cases and various cryptocurrencies such as ETH, USDC, and DAI.

Arbitrum is a Layer 2 network built on top of the Ethereum ecosystem. Layer 2 networks improve the scalability and efficiency of underlying Layer 1 networks by processing transactions off-chain and then recording the results back on-chain. The Arbitrum network boasts low fees and supports hundreds of cryptocurrency tokens, including popular ones like Ethereum, USDC, DAI, Tether, and Chainlink.

Sock utilizes the Arbitrum network to enable our customers to process transactions quickly and without network fees. Arbitrum offers a vast selection of assets available for swapping, making it the largest Layer-2 solution as of this writing.

No, blockchain networks operate independently, with assets confined to their respective networks. This means that tokens on Arbitrum cannot be transferred to another network, such as Ethereum or Bitcoin. Assets on Arbitrum can only be sent or received between addresses on the Arbitrum network.