ARPA Chain Rebrands as ARPA Network Aiming to Spur Blockchain Evolution
Leading MPC protocol pivots to TSS-BLS, building better permissionless computation infrastructure
SINGAPORE / ACCESSWIRE / October 18, 2022 / ARPA Chain, a blockchain-based solution for secure privacy-preserving computation enabled by Multi-Party Computation (MPC), is rebranding as ARPA Network (ARPA) as it switches its focus from general-purpose MPC to Threshold BLS Signature Schemes (TSS-BLS), a subset of MPC.
ARPA Chain was founded in 2018 as a privacy-preserving MPC network, and its Alpha Mainnet has completed over 224,000 computation tasks in the last 2.5 years alone. Its experience in MPC and cryptography laid the groundwork for its innovative TSS-BLS system design and led the team to the new ARPA.
ARPA is a blockchain-adapted decentralized secure computation network employing matured cryptographic algorithms. It aims to further push the boundaries of blockchain and ultimately enable more blockchain use cases via Threshold Signature Scheme - from serving as verifiable random sources for metaverse, games, and NFTs, powering wallets with social recoverability and flexible key management policy, and safeguarding cross-chain transactions. Since TSS networks are sometimes criticized for being slow, ARPA designed a unique grouping mechanism that enables multiple groups of nodes to participate in the completion of BLS signature tasks simultaneously, which significantly increases the throughput.
On top of that, to better cater to developers' needs across multiple ecosystems, ARPA builds the network to support multiple blockchains and allow developers to customize their signature policy according to different security levels required by different applications. Meanwhile, its property of decentralization allows the participation of individual node operators in a permissionless manner, which helps disperse risk by eliminating the possibility of a single point of failure.
While ARPA's nature of decentralization strengthens physical tamper protection, its token economics design stemmed from game theory also helps to distinctly restrain malicious intent and greatly improve the network's security level. Therefore, the network's utility token $ARPA plays a critical role in maintaining a permissionless and self-sustaining ecosystem. For example, $ARPA token can serve as incentives for BLS computation task completion. When a client initiates a computation task, ARPA system distributes the task and summons participants to help fulfill it, promising ARPA tokens if successful. On the other hand, the client may need to pay a service fee or make a security deposit when setting up computation nodes in $ARPA as well.
Going forward, ARPA will serve as the infrastructure for many blockchain applications, including verifiable Random Number Generator (RNG), secure wallet, cross-chain bridge, and decentralized custody across multiple blockchains. While working intensively on the development of the network, the team is also building ARPA's first showcase, Randcast, a verifiable RNG that offers on-chain generated random sources while being secure and verifiable under low-cost. Randcast can be utilized across multiple blockchains in a wide variety of use cases where fairness and transparency are essential, including metaverse gaming, lottery, NFT minting and whitelisting, key generation, and blockchain validator task distribution. The ARPA team is working on the Devnet launch in Q4 2022, and the Mainnet launch in Q1 2023.
For developers interested in building on ARPA, please feel free to sign up for updates. The full-text whitepaper is available on the new website.
About ARPA
ARPA Network (ARPA) is a decentralized secure computation network built to improve the fairness, security, and privacy of blockchains. ARPA threshold BLS signature network serves as the infrastructure of verifiable Random Number Generator (RNG), secure wallet, cross-chain bridge, and decentralized custody across multiple blockchains.
ARPA was previously known as ARPA Chain, a privacy-preserving Multi-party Computation (MPC) network founded in 2018. ARPA Mainnet has completed over 224,000 computation tasks in the past years. Our experience in MPC and other cryptography laid the foundation for our innovative threshold BLS signature schemes (TSS-BLS) system design and led us to today's ARPA Network.
Randcast, a verifiable Random Number Generator (RNG), is the first application that leverages ARPA as infrastructure. Randcast offers a cryptographically generated random source with superior security and low cost compared to other solutions. Metaverse, game, lottery, NFT minting and whitelisting, key generation, and blockchain validator task distribution can benefit from Randcast's tamper-proof randomness.
For more information about ARPA, please contact about@arpachain.io.
Official Website: https://arpanetwork.io/
Discord: https://dsc.gg/arpa-network
GitHub: https://github.com/ARPA-Network
Twitter: https://twitter.com/arpaofficial
Medium: https://arpa.medium.com/
Telegram: https://t.me/arpa_community
Linkedin: https://www.linkedin.com/company/arpachain/
SOURCE: ARPA
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https://www.accesswire.com/720542/ARPA-Chain-Rebrands-as-ARPA-Network-Aiming-to-Spur-Blockchain-Evolution
