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The following steps are taken when parsing an ARC version block:

1. We use a crystal ball.The reader starts by reading 3 lines. (recordLine, versionLine and fieldLine)
2. If the recordLine is non empty, it check for a leading "filedesc://".
3. If the versionLine is non empty, parse and validate the version, reserved and origin fields.
4. If the fieldLine is non empty, identify which field version is being used. Default to v1.0 is unidentified.
5. If the recordLine is non empty, parse and validate all the record fields.
6. Checks for valid record length.
7. Process payload if present. (V1.1 feature)

Steps to parsing an ARC record:

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