What Exactly is ARPA Chain (ARPA)? Learn with MEXC Blog
The layer 2 network known as ARPA Chain or ARPA is built on the Ethereum blockchain. This secure multi-party computation network allows users to work together on a function while protecting the anonymity of their inputs. The chain uses smart contracts to secure user data privacy. The network uses sharding method in its infrastructure to make it more marketable.
Functionality
Secure Multi-Party Computation (SPMC), a feature of ARPA Chain that allows transaction validation and protection with a shorter transaction time, is well known. The following SPMC functions are part of this chain:
- Security. To prevent nodes from obtaining secure data that they do not already have access to, the crypto network was designed. This approach can shorten processing times and improve overall network scalability for sovereign networks.
- Scalability. On-chain networks will never run out of gas because to the chain's design. As a result, the technology is able to greatly accelerate Layer-1 blockchain transaction speeds.
- Independence. The complexity of computation is managed by off-chain computation. As a result, SMPC can be deployed in an interoperable way on any separate blockchain network.
Real-Life Application
The Layer-2 framework developed by ARPA Network safeguards privacy while being flexible enough to accommodate many use cases. FinTech, insurance, AI, the Internet of Things (IoT), healthcare, digital advertising, and retail are just a few of the industries it can assist. It can serve as a network for processing and storing data. The system can be used for these things in addition to data marketplaces, key management, blind voting, dark pool trade, and personal data wallets. Additionally, ARPA Chain can be utilized for credit and anti-fraud operations that let banks exchange credit blacklists in order to maximize risk management readiness.
Project History
The project's cofounders are Yemu Xu, Jiang Chen, Felix Xu, Derek Zhang, and Yemu Xu. Felix Xu is the CEO of ARPA and a co-inventor of the Bella Protocol. Felix graduated from New York University with a degree in both finance and information systems. ARPA's CGO and co-founder is Yemu Xu. The organization released the whitepaper in 2018.
Distribution of ARPA
There are a total of 2 billion tokens available for the project. The breakdown of the token distribution is provided below:
- 30% in Bootstrap Rewards
- The group: 20%
- 15% foundation
- Raise: 13%
- 10% for private sales
- Public auction: 7%
- Environment: 5%
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