What Is Arpa Network and How Does It Work?

ARPA Network is a secure computation network that allows for private computation and data sharing without revealing the underlying data built on blockchain technology.

In this article, we will discuss what Arpa Network is, how it works, what its native token ARPA is, we will also discuss the history of Arpa, its features of Arpa Network and the value of ARPA tokens. We will end the article by providing concise guidance on how to buy ARPA tokens.

What Is Arpa Network?

ARPA Network is a blockchain-based secure computation network that enables private computation and data sharing using advanced cryptographic techniques. It is scalable, efficient, and suitable for various applications, including decentralized finance, insurance, and voting.

This protocol can keep secrets distributed, achieve consensus through a majority vote, or hide the identity of signers. The ARPA Network enables the development of applications that involve secure key management, anonymous transactions, cross-chain messaging, quorum approval, and distributed randomness generation.

ARPA Network has a permissionless threshold signature service for blockchains that is decentralized, non-interactive, verifiable and highly available. The system works with blockchains and nodes are grouped to handle computation tasks in parallel. A smart-contract-capable blockchain is used as a bulletin to manage dynamic global states and coordinate multiple groups. The network can be used to build applications such as secure key management, cross-chain messaging, and quorum approval.

ARPA Network is unique in that it is the first decentralized secure computation network that is built specifically for blockchains. ARPA Network is ideal for decentralized applications like decentralized finance, decentralized insurance, and decentralized voting.

What Is the ARPA Token?

ARPA is an Ethereum-based token that serves as the native currency of the ARPA Chain, a powerful computation network that supports privacy-preserving smart contracts, data storage, and scalable off-chain transactions. Users can utilize the ARPA token to pay for data and computation within the network, as well as to govern its future development. As the network continues to evolve, the ARPA token will play a crucial role in enabling secure and efficient computation and data storage.

ARPA Tokenomics 

*Data source: The table above is real-time data from Coinmarketcap as of June 9, 2023.

History of Arpa Network

ARPA Network is a decentralized computation network founded in 2018 by Jijun Xiong, Rui Zhang, and Fei Wang with the aim of enhancing the fairness, security, and privacy of blockchains. The network, formerly known as ARPA Chain, has completed over 224,000 computation tasks on its mainnet and has a growing community of developers and users. Xiong, Zhang, and Wang are experienced entrepreneurs and engineers in the technology and financial industry. The ARPA Network is still under development and is expected to become a major player in the blockchain industry.

Features of Arpa Network

1. Decentralization: The ARPA nodes offer decentralized threshold signature services, with trust distributed across multiple entities located in different regions running individual nodes. This approach provides better tamper protection at the physical level.
2. Flexibility: The ARPA protocol provides support for various signature applications, allowing users to customize their signature policy, import or export secrets, and choose the level of security they require.
3. Non-interactivity: The ARPA protocol utilizes a non-interactive procedure to avoid heavy synchronous communication during the signature generation phase. This approach ensures a reliable service status and allows for a flexible network topology.
4. Verifiability: With the ARPA signature scheme, users can easily verify their signatures. The underlying cryptographic primitive ensures that the signatures cannot be forged or manipulated.
5. High availability: The decentralized and non-interactive nature of the ARPA signature service ensures high availability, with downtime reducing as the network expands.
6. Multi-Chain Support: The ARPA network is designed to support multiple chains, enabling developers from various ecosystems to utilize it when building their applications. Furthermore, the underlying threshold signature network ensures consistency between different data replicas.

What Determines Arpa Coin Value?

As of June 9, 2023, ARPA is priced at $0.053. Its value is determined by supply and demand and its utility in powering the ARPA Chain, a privacy-preserving blockchain platform used for secure data sharing. The ARPA token has value due to the privacy-preserving blockchain platform, scalability, security, active community, and strong leadership. It is a promising project with the potential to disrupt data sharing and use, making the ARPA token valuable in the future.

How to Buy ARPA Tokens?

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including ARPA, users can now trade easily and seamlessly. To purchase ARPA on CoinEx, follow the steps below.

1. Register or Log In: To access CoinEx's services, register for an account by clicking "Register". Existing users can log in.
2. Deposit Fiat or Crypto: Fund your CoinEx account by depositing through a range of options such as credit cards, etc. You can also deposit other supported cryptocurrencies that can be traded with ARPA. 
3. Exchange Paired Tokens for ARPA: Deposit funds into your CoinEx account, then go to the trading page and select the appropriate ARPA trading pair that matches your deposit. For example, choose "ARPA/USDT" if you deposited USDT.
4. Buy/Trade ARPA Tokens: Purchase ARPA by specifying the desired amount and exchanging the paired token for ARPA after selecting the correct trading pair.