Privacy-Preserving Computation Network ARPA Announces Rebrand, Seeks to Enable More Blockchain Use Cases for Mass Adoption
ARPA Chain will now be known as ARPA Network, reflecting expanded capabilities of Threshold BLS Signature (TSS-BLS)
SINGAPORE, Oct. 18, 2022 /PRNewswire/ -- ARPA, a pioneer in multi-party computation (MPC), has announced its transition to Threshold BLS Signature (TSS-BLS), a subfield of MPC cryptography. This transformation also ushers in the protocol's rebrand to ARPA Network as it aims to improve the fairness, security, and privacy of blockchains. ARPA will serve as the infrastructure for applications such as verifiable Random Number Generator (RNG), secure wallet, cross-chain bridge, and decentralized custody. Additional details on the company's transition were discussed in its recently released whitepaper.
ARPA is a secure computation network that can generate on-chain BLS signatures among a group of decentralized nodes. Developers can leverage the network and build various blockchain use cases, while node operators can join the network in a permissionless environment. ARPA has the following traits made possible by innovative protocol design: decentralized, flexible, efficient and blockchain agnostic.
Decentralized - Anyone can run a node for ARPA. By enabling a decentralized network through prudent technical and token economics design, our threshold signature service doesn't rely on a single point of trust.
Flexible - ARPA supports various applications utilizing the threshold signature schemes due to its flexible network topology. You can easily customize the signature policy when implementing the ARPA Network and choose security levels catering to different use cases.
Efficient - Designed with a unique grouping mechanism that allows multiple groups of nodes to perform BLS computation tasks in parallel, thereby increasing the network's throughput.
Blockchain Agnostic - We believe in a multi-chain future. ARPA Network is designed to adapt to multiple blockchains, catering to developers' needs in the multiverses.
Utilities of ARPA token include computation task rewards, service fees, security deposits for computation nodes, and much more. To bootstrap and maintain the overall system's health, APRA rewards its computation nodes with ARPA tokens for honestly completing each task and penalizes corrupted or failed nodes.
"Blockchain technology will inevitably become a part of our everyday lives as the adoption and use cases for digital assets increase," said Felix Xu, Co-founder of ARPA. "ARPA threshold BLS signature network can enable unique applications with better security at low cost."
"For example, our team is building out Randcast, a verifiable RNG as the first application on top of ARPA," continued Xu. "Randcast can improve the transparency of random seeds, and create value for metaverse gaming, lottery, NFT minting and whitelisting, key generation, and blockchain validator task distribution across multiple blockchains."
Regarding what's ahead for ARPA in the near future, the core team is working towards the ARPA Devnet launch in Q4 2022 and the Mainnet launch in Q2 2023. The team also plans incentive programs for computation nodes and grants for community developers.
For developers interested in building on ARPA, please sign up for updates. To learn more about ARPA, and download its new whitepaper, please visit: http://arpanetwork.io/.
ARPA Network, previously known as ARPA Chain, is a decentralized secure computation network founded in 2018 to improve the fairness, security, and privacy of blockchains. ARPA threshold BLS network serves as the infrastructure of verifiable Random Number Generator (RNG), secure wallet, cross-chain bridge, and decentralized custody and will support multiple blockchains.
The ARPA team is also building Randcast, a verifiable, secure, and low-cost random number generator (RNG) as the first application and showcase of ARPA. 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. To learn more about Randcast, and ARPA Network, visit http://arpanetwork.io/.
R.J. Walker & Co.
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