Home Crypto Education Cryptocurrencies Introducing ARPA: Privacy and Security for the Blockchain

Introducing ARPA: Privacy and Security for the Blockchain

76
0

One of the biggest selling points of blockchain is privacy, which is enabled by ultra-modern cryptography. That quality is only enhanced by the tech’s decentralized nature, which means there’s no single authority calling the shots. These and more features of blockchain make it ideal as a solution for countless modern-day issues. 

ARPA is a project utilizing blockchain to secure privacy-oriented computation and data sharing. It also supports high-level security, flexibility, and cross-chain interoperability.

This article looks more closely at the ARPA Chain network. 

Breaking Down ARPA Chain 

ARPA is a layer 2 solution for achieving unprecedented blockchain security. Powered by Multi-Party Computation (MPC), ARPA aims to promote data privacy while enabling its renting. The MPC protocol allows multiple participants to collaboratively analyze data while maintaining each party’s data’s privacy and security.

Entities can secretly share private data, with the accuracy of computation verified through an information-theoretic Message Authentication Code. Use cases of the native token, ARPA, include but are not limited to computation costs, security deposits, data usage fees, network governance, etc. The ARPA token is currently based on Ethereum. 

On the ARPA network, developers can build privacy-preserving decentralized apps compatible with the protocol. Use cases of ARPA a wide-ranging, but they include credit anti-fraud, data wallet security, precision marketing, key management systems, etc. 

ARPA: Features 

Privacy and security: MPC allows participants to collaboratively compute functions while ensuring the utmost privacy

Flexibility and compatibility: The ARPA network is flexible and interoperable with existing blockchains like Ethereum and EOS. 

Scalability and Efficiency: ARPA is capable of implementing fast transactions for mass adoption. It can also support off-chain, industrial-level computation, and storage.

ARPA Listed on ForTube

In September this year, ARPA was listed on ForTube, a crypto lending and yield farming platform. ARPA token holders can now stake ARPA at the platform to get a share of 500,000 FOR tokens awarded to users every day. They can also deposit ARPA and get up to double rewards. 

The ARPA token can also be used in the platform as collateral to borrow a wide range of crypto assets, including ETH, USDT, HBTC, WBTC, USDC, BUSD FAI, FOR, BNB, etc. You can also transfer borrowed assets to any address of your choice – for yield farming and other purposes. 

The current Annual Percentage Yield of lending ARPA on ForTube is 1.99%, while the loan-deposit ratio is 40%. ARPA’s listing in ForTube is good tidings for the project. It is beneficial in the long term to increase token value, ecological development, and promote community consensus. 

Community Growth Strategies of ARPA

The ARPA team is currently implementing various growth strategies. These include: 

  • Social media and community programs to spur interaction and growth
  • A global supernode program to promote ARPA on the global stage
  • Host or co-host blockchain and crypto-related events
  • Organize monthly physical meetups, starting with the China, Korea, and Southeast Asia region
  • Release multi-language technical and community updates every two weeks

Future Strategies include: 

  • Hosting blockchain in cryptography related meetups, hackathons, and conferences
  • Collaborating with tech-focused to advance privacy-preserving computation
  • Recruiting top media coverage and collaborating with research institutions, policy gurus, and thought leaders

Who’s Behind ARPA? 

ARPA is the brainchild of a global research team where every member has graduated from leading universities such as UC Berkeley, UMich, and NYU. Several team members have previously worked at Google, Uber Amazon, CircleUp, MIT Lab, and Fosun. 

The team has partnered with professors in academia, including universities such as NYU, Zhejiang University, and Hong Kong Polytechnic. The team has advisors in the blockchain space, such as former Blockstream Product Director, TechCrunch founder, and various high-level crypto investors. 

ARPA: Tokenomics

As of October 31, 2020, the ARPA token traded at $0.014210, with a market cap of $12,271,817 that placed it at #444 in the market. The token’s 24-hour volume was $5,445,575, while it’s circulating and total supply were 863,580,274 and 1.49 billion, respectively. The token’s all-time high was $0.062323 (July 15, 2019), while its all-time low was $0.003472 (March 13, 2020). 

Where to Buy and Store ARPA 

You’ll find ARPA listed as a market pair of USDT, BTC, BTC, ETH, USD and KRW in any of several exchanges, including Binance, BitHumb, Huobi Global, Coinbene, HitBTC, Gate.io, LBank, LongBit, KuCoin, Bilaxy BKEX, Balancer, CDAX, Hanbitco, CITEX, Hydax Exchange, Bibox and more. 

ARPA is Ethereum-based, so that means it can be stored on any Ethereum-compatible wallet. Good choices include MyEtherWallet, Parity, Guarda, Atomic Wallet, Trust Wallet, MetaMask, Ledger Nano, and Trezor. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here