The native crypto of Arpa Network, ARPA, has witnessed a notable surge in the past 24 hours. With a 8% increase, ARPA is now trading at $0.05078.
Its trading volume has experienced a significant upswing also, soaring by 328% to reach $60million within the same timeframe, according to CoinMarketCap.
The price surge can be largely attributed to Arpa Network’s launch on Ethereum mainnet. Arpa mainnet will enable developers to build decentralised application prototypes (Dapps) using an API it provides – a feature powered by the ARPA-BLS network.
Arpa Network plans to commence the issuance of 500 million ARPA allocated for staking rewards. These tokens will not only act as reserves but also contribute to the development and expansion of the Arpa ecosystem.
To ensure a systematic and controlled distribution, the tokens will be released gradually, allowing for a phased vesting process for stakers, validating nodes, and other active participants within the ecosystem.
Prior to the mainnet launch, two stages of testnets – 1.0 and 2.0 were completed. The initial phase commenced in 12 April, while 2.0 started 25 May.
During both test phases, the network witnessed notable enhancements, demonstrating substantial progress. These improvements encompassed resolving bugs, incorporating resilient retry mechanisms, and introducing the ARPA BLS-TSS Network, which further strengthened the infrastructure. These advancements played a crucial role in refining the network’s performance and ensuring its robustness for future operations.
ARPA recorded a significant 203% increase between 25 April and 25 May following these developments.
About Arpa Network
Arpa Network is a decentralised computation protocol that aims to revolutionise cryptographic systems, enhancing the versatility, reliability, and interoperability of blockchains. Their vision is to establish a framework where participants can engage in transactions and interactions within the blockchain while ensuring a fair and secure environment.
Additionally, Arpa emphasises the importance of preserving user privacy, allowing individuals to maintain control over their personal data and information within the blockchain ecosystem.
