ARPA | A focus on Privacy Preservation
A Privacy-Preserving Computation Network (ARPA) is a blockchain compatible layer-2 solution.
A blockchain can zero through a smart contract and trigger ARPA to perform private computation. The reason for this is: ARPA makes secure data sharing possible.
There’s currently no secure way for data sharing to be possible. If an individual encrypts the data they send and the receiver decrypts that data, the receiver is then able to carry out multiple activities with that data. Legal or illegal included.
ARPA (ARPA) aims to solve this problem- not only on blockchain but the data industry as a whole, where this issue is prevalent.
The platform uses cryptography to tackle this problem and is called multi-party computation with star core technology.
Currently, in blockchain, there exist two problems, first of which is there’s no privacy for those who require it. All transactions are exposed and transparent. For large-scale adoption of blockchain, where the processing of valuable information is needed, there is a certain level of privacy needed.
Then there is the problem of data. Data remains chronically underpriced and placed in silos. When considering Big Data or AI, everything has to be trained and collected to create accurate models and perform analysis, if there are multiple partiers involved in one computation. So ARPA also aims to solve this problem with their cryptography technology.
Multi-part computation (MPC) is ideal for blockchain platforms. On top of this MPC network, in regards to financial insurance, clients can enable joint credit risk default solution, or they can have secure risk analytics between multiple parties and multiple companies.
Individuals can manage or monetize their data in a more secure way with enterprises and get rewards.
ARPA makes sure that the enterprise themselves can focus on the data value and not just the blockchain. What this means is that ARPA will be the platform that allows the potential for interoperability for access beyond silos and data will be one of the central core focuses of ARPA’s ethos.