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How ARPA Makes Truly Secure Data Sharing A Reality

21 May 2021 10:00, UTC
How ARPA Makes Truly Secure Data Sharing A Reality

Data is the new oil they say and rightfully so. In this digital world, almost every company or entity requires user data to function. This data aids the innovation, development, training, marketing, and design decisions of these companies.

Now, blockchain networks like Bitcoin and Ethereum make all their user data available on a public ledger for companies and developers to work with. Though this is extremely beneficial, it raises concerns about privacy among users. In fact, this could be a major roadblock for mass blockchain adoption. To solve this problem, we’ve seen several privacy protocols emerge. But, these protocols block data sharing altogether making it hard for businesses. So is there a middle ground? Well, thankfully there is.

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Whether it is on blockchain networks or in the real world, secure data sharing requires privacy-preserving computation. This is exactly what the ARPA aims to achieve.

About ARPA

Founded in 2018, ARPA is a privacy-preserving protocol based on blockchain. The main aim of ARPA is to enable sharing and analysis without the need to share it publicly. This is achieved by deploying cryptographic Multi-Party Computation (MPC) protocol.

This Multi-Party Computation protocol allows multiple parties or multiple entities to collaborate with each other, analyze data, and even extract synergies. This entire process is implemented while maintaining each party’s data private. This is called a secure computational network and each node is called a secure computation node. ARPA introduces the concept of data renting by separating data utility and ownership.

ARPA also supports proxy smart contracts that act as links between the blockchain network and the computational network. These smart contracts double as verifiers that verify the correctness of the computation using Message Authentication Code (MAC). Besides, the ARPA mainnet also allows for the secret sharing of private data and scalable computational sharding.

This private sharing of data gives rise to some interesting use-cases in the real world. For instance, banks and other financial institutions can collaborate with each other to blacklist fraudsters without actually revealing private user information.

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Businesses and advertising firms can privately share and analyze data over the ARPA blockchain for precision marketing. Developers could also collaborate with each other for machine learning and AI model training without giving away their private data.

The best part is that all of this can be done on a decentralized network without the need for any third-party involvement.

In addition to all this, ARPA enables developers to build secure dApps that make use of its privacy-preserving protocols.

Success So Far

Ever since its launch in 2018, ARPA has been pushing boundaries for the mass adoption of privacy-preserving computation. It has partnered with some major tech giants across the globe to ensure secure data sharing.

One such major partnership is ARPA’s recent collaboration with Amazon Web Services. As a part of this partnership, ARPA’s secure computational nodes were deployed on the AWS network and listed as a product. Using this, the users of AWS will be able to set up a private computation locally and operate globally. Users who wish to secure their data from being misused can use ARPA’s node to secure their data as well as applications.

Apart from this, ARPA has also partnered with Litentry, a cross-chain identity aggregator to enhance the security of data on the network. Other notable partners include Phoenix Global, Tencent Cloud, and China Unicom.

It is safe to say that ARPA has been well received by the market and its adoption is only expected to rise in the future. The native toke ARPA has also been listed on major exchanges such as Binance, Bithumb Korea, Huobi Global and has a current circulating supply of 1.04B ARPA.

Conclusion

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User privacy is becoming a matter of increasing concern these days. Users are concerned about how their data is being shared and used by businesses. But, they’re also aware that privacy comes at the cost of convenience. When they choose not to share this data, they lose access to customized ads and other services. ARPA solves this dilemma and gives users both privacy and convenience. By implementing secure computation, ARPA makes sure that even though users’ data is kept private, they can still enjoy the convenience of data sharing.



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