ARPA is integrating with Chainlink to bring reliable data to ARPA’s multiparty computation (MPC) network

By Tsunami On Jun 9, 2020

ARPA is integrating Chainlink oracles to bring reliable data to its multiparty computation (MPC) network. ARPA plans to use Chainlink Price Reference Data to support its financial services, including a DeFi lending dApp for cross-chain assets, according to a report released by the ARPA via its official Medium account on 9 June.

ARPA is a blockchain-based 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. ARPA allows secret sharing of private data, and the correctness of computation is verifiable using information-theoretic Message Authentication Code (MAC).

ARPA Co-Founder and CEO Felix Xu said “We are very excited about our collaboration. Chainlink is secure, decentralized, and easy-to-use. They have a highly experienced team that is used to working with traditional banks, fintech companies, and renowned blockchain projects. We aim to be the first privacy-preserving computation network integrated with Chainlink, which will enrich the entire Chainlink ecosystem. Besides multiparty computation, we will be launching several DeFi dApps this year, which opens up larger integration opportunities for both parties and bring new value to our users.”

Chainlink is a decentralized oracle network that allows smart contracts to access key off-chain resources such as data feeds, various web APIs, and traditional bank account payments.

As a bridge for data exchange between blockchains and the real world, oracles can be used in a variety of application scenarios, such as finance, insurance, global trade, gaming, and many more. Chainlink is already used to secure off-chain data for numerous top projects including Polkadot, Synthetix, Aave, Celsius, Tezos, Ontology, and many others.

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