ARPA Network is a decentralized and secure computation network built to improve the fairness, security, and privacy of blockchains. It is rebranded from ARPA Chain.
The new ARPA can generate on-chain threshold BLS signatures for a variety of use cases. It can provide a more affordable substitute for existing inefficient and expensive on-chain operations by serving as the infrastructure of many blockchain applications, such as verifiable Random Number Generator (RNG), secure wallet, decentralized asset custody, cross-chain bridge, and more.
ARPA is the native token of the project. The current use cases for ARPA include:
Computation task reward: node operators can get ARPA as rewards when completing computation tasks;
Currency for service fees: clients that require computation services can pay the fees in ARPA;
Collateral for security deposits: when node operators set up computation nodes, they need to stake a certain amount of ARPA as deposits to better guarantee the network security;
The project consists of the following major components working in conjunction:
Threshold BLS Signature Scheme: it is a protocol that allows for processing signature-related functions. ARPA’s TSS-BLS can generate a decentralized tamper-proof signature. It is flexible for customization to cater to different security levels, and it is adaptable to multiple blockchains.
Randcast (and other applications): Randcast is the first application on ARPA Network, a decentralized verifiable RNG. The random number generation task is a signature generation task assigned to the node groups. Other applications built on ARPA can also call for various computation tasks.
As of Nov 8th, 2022, the maximum and total token supply of ARPA are 2,000,000,000 and 1,500,000,000 respectively. The current circulating supply is 1,240,000,000 (62% of the max token supply).
Learn more about the token distribution of ARPA here.
ARPA Network (ARPA)
A Decentralized and Secure Computation Network.
Nov 8th, 2022