On May 22th 2021, our community had a chance to welcome Wildwood Xu – Co-Founder of ARPA to join in an AMA to give fruitful information about the key features and roadmap of ARPA – is a privacy-preserving computation solution for blockchains and enterprises.
This AMA was held by CryptoFamily Group – the top crypto community in Vietnam, where investors and traders can obtain the lastest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.
At this AMA, the Wildwood Xu directly greeted the community and provided detailed information on ARPA as well as some key products and future plans.
Time: 09:00 PM (UTC + 7) on Saturday, May 22th, 2021
Airdrop 200 USDT for the best questions in the AMA.
Below are some main points of this AMA:
Question for Part 1- Project overview
Question 1: First, please make a brief introduction of yourself and ARPA.
Yemu: My name is Yemu Xu and I am the cofounder & CGO at ARPA. At ARPA I’m in charge of the overall BD, PR, marketing, investment and growth.
Prior to cofounding ARPA I was the Head of Growth at Boro, a Money 20/20 fintech startup that raised over $20mil. Before that, I worked as an actuarial consultant at Fidelity Investments in Chicago. I am also an entrepreneur-in-residence at ZhenFund, one of China’s most prominent VCs. Now a bit about ARPA.
ARPA is a blockchain-based layer 2 solution for privacy-preserving computation, enabled by Multi-Party Computation (“MPC”). Founded in April 2018, the goal of ARPA is to separate data utility from ownership, and enable data renting.
ARPA’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.
Question 2: In this question, we would like to know some advanced features that make ARPA become a privacy-preserving computation solution for blockchains and enterprises.
Yemu: We use Multiparty computation (MPC) to bring privacy to data-at-use.
Developers can build privacy-preserving dApps on blockchains compatible with ARPA. Some immediate use cases include: credit anti-fraud, secure data wallet, precision marketing, joint AI model training, key management systems, etc. For example, banks using the ARPA network can share their credit blacklist with each other for risk management purposes without exposing their customer data or privacy.
We are one of the key parties in the formation of national and international standards, joined by Alibaba, Tencent, Baidu, and IEEE.
Question 3: Are there any hot news or big events of ARPA to gain mass adoption locally and globally?
Yemu: Along the way, ARPA has participated in the establishment of a number of international privacy computing standards and created many firsts. We have a lot in preparation. We are committed to using cryptography to develop applications such as private data sharing, onchain random number generation, and BLS signatures
Questions for Part 2 – Pre-collected questions from Twitter:
Question 1: I care deeply about personal privacy, personal and organizational security, and the decentralization and sharing of power. What are your goals and motivations for taking on anonymity with transparency in general specifically as your project priority? @quyencao12
Yemu: We think privacy is a basic human right and even much more. For data sharing, data utilization and on-chain transactions, privacy is a must have and is an irreversible trend.
Without privacy protection, Data ownership will not be guaranteed. Secure data sharing and analysis would not be possible. If we agree that data is an emerging asset class, then without secure sharing scheme, it will have no liquidity.
At ARPA, we combine our expertise in big data, cryptography and finance and turn it into practical solutions for privacy, security and fairness onchain. All of these are crucial infrastructure DeFi and NFT, and are paramount for for the long-term development and prosper for the industry.
Question 2: Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Do you have any strategies to attract and expand the community and improve users’ experience? @Siena1820273
Yemu: Short answer: we take community as our top priority besides tech. We plan to grow it via ecosystem + partnerships.
Below is a rough stat for our highly diverse, active and global ARPA community:
Weibo: 50,000+ followers,100+ daily discussions, 54,000+ daily impressions
Twitter: 41.7k followers @arpaofficial
WeChat(Chinese): 30 directly-managed WeChat groups, totaling 20,000+ people
Telegram ARPA Official Community (English): 12,700 members: https://t.me/arpa_community
We have 8 language groups in total. Besides Chinese and English, other language groups are Thai (300), Indonesian(1,000+), Russian(4,000+), Vietnamese (1000+), Filipino (900+), and Korean (3,000+). Totaling 9,000+ members
We are always looking for the right partner to include in our ecosystem, and we are always looking for the best talent to grow our global community with us.
Question 3: Could you please share with us some major miletstones that $ARPA has achieved so far ? Is everything going according to your plan, or are there any obstacles during the past time that you had to overcome to reach your goals ? @buudo5
Yemu: MPC Mainnet launch
We successfully launched the very first version of ARPA mainnet on Jan 6 2020. The purpose is to run our protocol for different kinds of multiparty computation tasks and measure the reliability, robustness and efficiency. In the Pre-alpha mainnet phase, participants will be able to join the world’s first multiparty computation (MPC) network and become computing nodes. By correctly completing 8 kinds of privacy-preserving computation tasks, participants will be able to earn corresponding rewards. So far ARPA mainnet is running smoothly https://explorer.arpachain.io/, more than 140,000 computation tasks were executed.
ARPA has been listed on almost all of the major crypto exchanges, including but not limited to, Binance.com, Huobi Global, Bithumb, KuCoin, Gate.io, Pancake Swap, MXC and many more.
We are in the process of pushing our next product — stay tuned!
Amazon AWS, JD.com, Sinochem and many more.
National & International Standard
We helped shape the national & international standard of MPC with Alibaba, Baidu, Tencent, IEEE and other conglomerates
Question 4: Up to now, how do you plan to increase your efficiency? How can you apply off-chain computation network in solving the scaling problem? @mete74309414
Yemu: I am going to give a short answer to this one. Simply put, we take the computation-heavy part offchain and leave the consensus part to on-chain.
Question 5: Existing data providers’ networks, such as ChainLink or Oraclize, require asynchronous interaction between smart contracts and data layers. Is it difficult enough to simplify the problem with ARPA? @Lidiamga
Yemu: I don’t really understand this question but let me try to tackle it in the simplest possible way. Chainlink is an oracle, which essentially feeds real world data to blockchain/smart contracts. ARPA is a privacy-preserving network, which takes a data set, distribute it among participating nodes, and nodes will perform joint analysis/computation on the data and gets the result. The data set remains private throughout the process.
That being said these are 2 very different mechanisms. ARPA’s privacy-preserving computation network is an offchain solution. It takes the computation part offchain to ensure verifiability, privacy and efficiency
PART 3: BEST LIVE QUESTIONS CRYPTOFAMILY GROUP
Question 1: Tell us about your plans for 2021, what are you currently working on, and are you going to expand the list of big exchanges? @Romeo089
Yemu: We plan to get listed on more regulated exchanges worldwide, expand more partnerships and push our new product alive. Please do stay tuned. It is going to be huge
Question 2: The goal of the DeFi is to create a new financial system that eliminates subjectivity, bias, and inefficiency by relying on programmable terms. Does your project support this vision and how does it participate in the DEFI space? @mrsskimha
Yemu: Yes we are a firm believer of a decentralized, fair, and more efficient future. That’s why we invested in and incubated Bella Protocol. Bella is currently based on Ethereum and has TVL~ $40mil. Please check it out
Flex Savings: fs.bella.fi
Question 3: As You know, Many people judge a Project By $ARPA price, What do you have to Say to investors? What’s the plan to increase $ARPA Demand? @Densoia
Yemu: Price definitely is not everything, but is a very important component of a listed project. We have buyback and burn program to ensure an ever-decreasing supply of $APRA. In the meantime, on top of the $50mil daily trading volume across all exchanges, we plan to get listed on even more regulated exchanges. Also more marketing endeavors and partnerships with communities and projects
Question 4: -Are you a global project or a local project?
-Can anyone use your project anywhere without any restrictions? @shohag336
Yemu: We are global.
Yes everyone can access our platform anywhere, anytime at mainnet.arpachain.io
Question 5: Currently from where i can buy $ARPA? Is it possible that I can get $ARPA only by holding it? @mimsks
Yemu: Binance.com, Huobi Global, Bithumb Korea, KuCoin, Gate.io, MXC, Pancake Swap and many more. Feel free to look us up at coinmarketcap.com. ARPA holders will get $BEL airdrops on a quarterlyu basis
For all of the questions that have not been answered yet, guys feel free to search for more information or ask directly to them on the links provided below:
Telegram Community : https://t.me/arpa_community
Announcement Channel: https://t.me/arpaannouncement