Privacy-preserving computing 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, 18 October 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 the ARPA Network as it aims to improve the fairness, security and privacy of blockchains. ARPA will serve as infrastructure for applications such as verifiable random number generator (RNG), secure wallet, cross-chain bridge, and decentralized storage. Further details of the company’s transition were discussed in the recently released white paper.
ARPA is a secure computational 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 characteristics enabled by innovative protocol design: decentralized, flexible, efficient and blockchain agnostic.
- Decentralized – Anyone can run a node for ARPA. By enabling a decentralized network through proper technical and token economic design, our threshold signature service does not rely on a single point of trust.
- Flexible – ARPA supports various applications that use the threshold signature schemes due to the flexible network topology. You can easily customize the signature policy when implementing the ARPA network and choose security levels that suit different use cases.
- Effective – Designed with a unique clustering mechanism that allows multiple groups of nodes to perform BLS computation tasks in parallel, thereby increasing network throughput.
- Blockchain Agnostic – We believe in a multi-chain future. The ARPA Network is designed to adapt to multiple blockchains, meeting the needs of developers in the multiverse.
Tools for ARPA token includes compute task rewards, service fees, security deposits for compute nodes and much more. To boot and maintain the overall health of the system, APRA rewards its compute nodes with ARPA tokens for honestly completing each task and penalizes corrupt or failed nodes.
“Blockchain technology will inevitably become part of our everyday lives as the adoption and use of digital assets increases,” said Felix Xu, co-founder of ARPA. “ARPA Threshold BLS Signature Networks 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,” Xu continued. “Randcast can improve the transparency of random seeds, creating value for metaverse gaming, lottery, NFT staking and whitelisting, key generation and blockchain validation task distribution across multiple blockchains.”
As for what lies ahead for ARPA in the near future, the core team is working towards the launch of the ARPA Deevnet in Q4 2022 and the Mainnet launch in Q2 2023. The team is also planning incentive programs for compute 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/.
About ARPA
ARPA Network, formerly known as ARPA Chain, is a decentralized secure computing network founded in 2018 to improve the fairness, security and privacy of blockchains. ARPA threshold BLS network serves as the infrastructure for verifiable Random Number Generator (RNG), secure wallet, cross-chain bridge and decentralized storage and will support multiple blockchains.
The ARPA team is also building Randcast, a verifiable, secure and affordable 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, gaming, lottery, NFT minting and whitelisting, key generation and blockchain validation task distribution can benefit from Randcast’s tamper-proof randomness. To learn more about Randcast and the ARPA Network, visit http://arpanetwork.io/.
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