ARPA Burns 10 Million Tokens, Gets Huobi Fast Track Listing

By takitachibana | Today In Crypto | 12 Sep 2019


Privacy blockchain ARPA recently announced the burning of 10 million ARPA Tokens in line with its roadmap for its supporters to benefit from the deflation of the token supply.

ARPA supporters can see the amount in the black hole address sent below:

0x168115cf806009f8984f47c90033e9a9705b4f65

TXID: 0x57e311b5706d44af9a0a3fc53eb83cd9c155dca568cc65764cbcaf3830d2adc7

Browser address:

https://etherscan.io/tx/0x57e311b5706d44af9a0a3fc53eb83cd9c155dca568cc65764cbcaf3830d2adc7

ARPA Team also voted to extend the first release of the team tokens to July 27, 2020.

ARPA BLOCKCHAIN

ARPA dubs itself as a privacy-preserving computation network. It is proposing a blockchain-based secure computational network of multi-party computation (MPC). It has three main features:

  • Privacy and Security – parties can jointly compute a function over their inputs while keeping them private;
  • Flexibility and Compatibility – ARPA is compatible with existing blockchains like Ethereum and EOS;
  • Scalability & Efficiency – features off-chain computation network for lightning fast performance.

HUOBI FAST TRACK LISTING

Recently, it was announced that ARPA is selected as one of the qualifying projects for Huobi Fast Track Listing. In the press release, ARPA is highlighted as a prvacy-preserving technology backed by high-profile blockchain investors such as Arrington Capital and Ledger Capital. It counts Alibaba Cloud, IOST, and Blockcloud as partners and the likes of Michael Arrington and Ben Gorlick as advisors. Huobi is a major global cryptocurrency exchange and the listing is a major boost for ARPA’s reputation.

PROOF OF SOLVENCY

ARPA aims to solve the problem of exchanges. In a Medium Post, the company’s proof-of-solvency is a mechanism to publicly verify their solvency without compromising the full set of sensitive financial data that would adverse consequences on the exchange’s business model. The solution relies on the combination of secret sharing during the initial multi-party computation phase among all the parties involved. The catch is that the “secret” is only shareable once a specific threshold of shares is consolidated. Through MAC authenticating of the verification algorithm, the desired result will be achieved with revealing any input information.

PARTNERSHIPS

As ARPA gears up for its mainnet launch, it announced a strategic partnership with MultiVAC, a high-throughput flexible blockchain platform based on trusted sharding computation. MultiVAC is built to be integrated with large-scale decentralized applications (dapps) with priority given to the user’s privacy and security. The partnership is a win-win for both companies; MultiVAC’s dapp developers can use ARPA’s secure computational network to guarantee user’s privacy and security.

Additionally, last June 2019, ARPA announced the launch of ARPA token on Binance Chain. Meaning ARPA becomes a BEP-2 token standard as it gets listed on Binance Dex.

 

 

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takitachibana
takitachibana

Cryptocurrency and Blockchain Writer.


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