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ARPA Chain

ARPA Chain (Founded April 2018) is a secure computation network compatible with blockchains. It has strong cryptography which enables private smart contracts, unprecedented data-at-use privacy protection, as well as scalable computational sharding. [1]

History

ARPA was Founded in April 2018 in Beijing, China by Felix Xu and Yemu Xu whi are both the founders and CEO.

ARPA's goal is to separate data ownership and utility while ensuring free, secure and private data flow.

Usage

ARPA network is flexible, easy-to-use, and compatible with existing blockchains such as Ethereum and EOS. ARPA token is a fundamental part of the ecosystem. It helps with:

  • Computation cost: All participants in MPC computation are compensated with ARPA tokens for their contribution of computing power
  • Data and model usage fee: To encourage data providers to list high quality data resources on the ARPA network, each MPC computation will be charged for data usage fee to compensate the data provider
  • Security deposit: Participants will use ARPA token as a form of safety deposit for launching and fulfilling computation jobs.
  • Community governance: Token holders above a specific threshold can have the right to vote for future accepted payment tokens and other proposals.

Benefits

ARPA is a blockchain-based solution for privacy-preserving computation, enabled by Secure multi-party computation (“MPC”). The aim of ARPA is to separate data utility from ownership, and enable data renting. It’s MPC protocol creates ways for multiple entities to collaboratively analyze data and extract data synergies, while keeping each party’s data input private and secure.

It allows secret sharing of private data, and the correctness of computation is verifiable using information-theoretic message authentication code (MAC).

Developers can build privacy-preserving dApps on blockchains compatible with it. Popularly used cases include: credit anti-fraud, secure data wallet, precision marketing, joint AI model training, key management systems.[2]

Achievements of ARPA

The team members have worked at leading institutions which includes Google, Amazon.com, Huawei, Fosun, Tsinghua University, Fidelity Investments. ARPA is currently assisting the China Academy of Information and Communications Technology in setting the national standard for secure multi-party computation. It is a corporate member of MPC Alliance and IEEE and is in partnership with fortune 500 companies to implement proof-of-concepts and MPC products. In 2019, it was named as the Top 10 most innovative blockchain companies in China by China Enterprise News and China Software Industry Association.

Revenue Strategy

ARPA is a layer 2 on block-chain and it charges part of the transaction fee as service fee. It also take a portion from the data transaction as a computation platform and it charges a monthly service fee from the participating enterprises. 

Patners

JD.com who is the second-largest online retailer of China is partnering with blockchain privacy platform ARPA to protect the financial data of major clients.

Specifically, the data platform for the firm’s subsidiary JD Digits (formerly JD Finance) will integrate with ARPA’s blockchain-based network, which uses technology known as secure multi-party computation (sMPC). JD Digits was formed to help other companies modernize with cutting-edge technologies like AI and bloc-kchain.

Under the partnership, the sMPC technology will be utilized “at scale” to offer a range of privacy features for financial companies working with JD Digits, ARPA said in an announcement Monday.

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ARPA Chain

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Edited On

July 27, 2022

Reason for edit:

New Wiki Created 🎉

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