What is ARPA(ARPA) | Data, market cap and ARPA price chart, data and market cap (ARPA) .
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What is ARPA?
ARPA Network is a secure decentralized computing network built to improve blockchains’ transparency, security, and privacy. It is renamed from ARPA Chain.
ARPA can create on-chain BLS signatures with a variety of use cases. It is a more affordable alternative to existing inefficient and expensive on-chain operations, by serving as the infrastructure of many blockchain applications. Some examples can be mentioned such as Random Number Generator (RNG), secure wallet, decentralized asset custody, and cross-chain bridge…
The ARPA project consists of the following two main parts that work together:
- Threshold BLS Signature Scheme: This protocol allows the handling of signature-related functions. ARPA’s TSS-BLS can generate decentralized tamper-proof signatures. This protocol is flexible in customization to cater to different levels of security and can be adapted to multiple blockchains.
- Randcast (and others): Randcast is the first application on the ARPA Network, a decentralized verifiable RNG. The random number generator task is the signature generation task assigned to groups of nodes. Other applications built on the ARPA Network may also require different computational tasks.
ARPA is a cryptocurrency and works on the Ethereum platform. This is the native token of the Arpa network, which can be used to pay for the use of data on the network. Users can use this token to stake and vote on the project’s future activity proposals.
ARPA began to be traded on the market in the summer of 2019. Since then, the coin has experienced many ups and downs, with the most explosive moment in 2021.
As of November 8, 2022, the maximum ARPA supply is 2 billion and the total token supply is 1.5 billion. The Circulating Supply is 1.24 billion (62% of the maximum ARPA supply).
- August 2019: Layer 2 security computing solution
- November 2019: Released ARPA Mainnet
- February 2020: Enhance security, optimize performance
- May 2020: Proof of concept – Precise advertising
- August 2020: Launching the cooperation program
- February 2021: Privacy-preserving genome analysis
- May 2021: Integration of ETH 2.0 BLS Signature Standard
- September 2021: Randcast preliminary design
- May 2022: Randcast v1 deployment and upgrade
- August 2022: Pilot program Randcast
The salient points of ARPA?
The Secure Multi-Party Computation feature allows ARPA to secure and validate transactions and increase transaction processing times for any blockchain network. According to ARPA developers, privacy protection with SMPC is more advanced than other methods such as homomorphic encryption (HE), zk-SNARKs, Zero-Knowledge Proofs (ZKPs), and Trusted Execution Environments (TEEs). SMPC has the advantage of scalability, flexibility, reliability, and practical efficiency for many uses. Specifically:
- Verifiable compute, prioritizing security: Compute on the ARPA Network is designed to ensure that Nodes cannot receive secure data they do not have access to. This setup can extend overall network scalability and processing times for sovereign networks.
- Blockchain agnostic and interoperable: By combining secure and verifiable computation, the complex nature of secure computation is performed off-chain. This allows SMPC to be deployed on any standalone blockchain in an interoperable manner.
- Scalability: ARPA is designed to ensure that on-chain networks never reach their gas fee limits. This allows the system to maximize transaction times on layer 1 blockchains.
- Efficiency and Availability: SMPC technology can significantly improve the speed of the platform. The ARPA chain allows for low-cost, always-available computations.
How does ARPA work?
The ARPA Network ecosystem consists of a custom blockchain, utility tokens, and many proprietary systems. The network leverages proxy Smart contract validation as a bridge to link blockchains and secures the network. The network structure consists of nodes, providers, consumers, and backers.
The main use of the ARPA platform is its ability to store and separate data from its real owners. In terms of encryption, the platform fully supports smart private contracts. It allows for shared and scalable computing and ensures absolute data security during processing. Where the smart proxy contract connects the traditional computer network to the blockchain.
ARPA tokens are used to purchase data, computing power, and anything else users need on the platform. It determines the entire future of the network and makes transactions more transparent, accessible, and efficient. Tokens can also be used as a security deposit platform and participate in community governance.
The ARPA network is a layer 2 solution that performs secure computation on sensitive data, a process known as Multi-Party Computation (MPC). Normally, in a smart contract, a proxy is activated on every layer 1 blockchain like Ethereum by anyone who wants to request this type of MPC, and those requests must be paid a fee in ARPA. The types of calculations performed include statistical analysis, advanced arithmetic, value and risk, and matrix multiplication.
Next, a set of compute nodes in the ARPA network bid on the right to provide computing power by paying a stake in the network. Nodes are randomly selected through decentralized functionality, performance history, success rate, latency, etc.
Then, the selected nodes work together to perform ARPA MPC using Secret Sharing and evaluate the functionality in the executable binary form. Values are exchanged between parties using a secure encrypted channel. Once completed, computation proofs called Message Authentication Codes (MAC) are generated and passed back to the proxy smart contract at layer 1. This is also where the MAC is secured.
If the MAC check is passed then the data provider gets paid for using the data in ARPA, while the prediction nodes split and receive the computation fee.
- Token Name: ARPA Token
- Ticker: ARPA
- Blockchain: Ethereum
- Token Standard: ERC-20
- Contract: 0xba50933c268f567bdc86e1ac131be072c6b0b71a
- Token type: Utility, Governance
- Total Supply: 2,000,000,000 ARPA
- Circulating Supply: 982,174,603 ARPA
- Bootstrap Rewards: 30%
- Team: 20%
- Foundation: 15%
- Reserve: 13%
- Private Sale: 5% Private Sale 1 và 5% Private Sale 2
- Public Sale: 7%
- Ecosystem: 5%
|Private Sale 1||100.000.000 ARPA||0.02 USD/ARPA|
|Private Sale 2||100.000.000 ARPA||0.02 USD/ARPA|
|Public Sale||140.000.000 ARPA||0.018 USD/ARPA|
ARPA Token Release Schedule
Dưới đây là biểu đồ lịch trình phát hành token ARPA.
From August 2019 – February 2021, ARPA Network burned 0.5% tokens (About 10k ARPA) of the Total Supply per month.
Token Use Cases
Currently, ARPA tokens are used in the following cases:
- Computational Task Rewards: Operators of nodes can receive ARPA as a reward for completing computational tasks.
- Service fee payment currency: Customers can request a calculation service that can pay fees in ARPA tokens.
- Deposit Collateral: When node operators set up compute nodes, they need to stake a certain amount of ARPA as a deposit for better network security.
Developers, investors of the project
Developers of ARPA
ARPA project is built and operated by Founder CEO Lei Zhang and Co-Founder Felix Xu and some other associates.
Currently, ARPA is invested by big names in the crypto market such as Binance Labs, Coinbase, GBIC, and Arrington Investment Fund.
Although ARPA is not a new idea in the blockchain field, with the achievements that have been achieved, ARPA deserves to be a project that is monitored and considered for investment. The ARPA development team announced that there will be more development plans for the community, partners, and applications in the future.