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ARPA Network Jumps 40% After Introducing Long Sought Product: Details

Wed, 05/24/2023 - 13:34
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Godfrey Benjamin
ARPA Network becomes next major protocol on traders' watchlist after printing 40% upsurge
ARPA Network Jumps 40% After Introducing Long Sought Product: Details
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ARPA Network, a decentralized secure computation network built to improve the fairness, security and privacy of blockchains, is seeing a completely profound decoupling in its price when compared to the general market trend. The token has jumped as high as 40%, pegging its price at $0.09298, per data from CoinMarketCap.

The growth in the price of ARPA is significant as it showed how well blockchain protocols with a unique product on the horizon can gain the favor of the community. Earlier today, ARPA Network highlighted the major challenge in the attempt of blockchain systems to maintain their unbiased nature.

With Random Number Generation (RNG) billed as the innovation of choice to help smart contracts overcome this bias, ARPA Network faulted the current model being employed by existing RNG protocols, noting that the majority are not fully random.

In a bid to correct the lapses these pseudo-Random Number Generation tools can fuel, ARPA Network revealed that it will be debuting its own RNG product, dubbed Randcast.

ARPA said Randcast will be the first application on the ARPA Network and that it "will be a decentralized, verifiable, multi-chain supported RNG that will both demonstrate the capacities of the ARPA network and provide high-quality randomness," the protocol said.

Focus on building

While ARPA is a protocol whose positive tilt toward infrastructure development that can be utilized by the whole of Web 3.0 is paying off, other protocols are also building new products and services for the benefit of all.

Ripple Invests in $40M Decentralized Infrastructure Fund

Shiba Inu is one such protocol, as the core developers have revealed that active development is ongoing as concerns the Shibarium protocol, with the mainnet closer to launch than usual.

Solana (SOL) also recently integrated a ChatGPT Plugin as it seeks to go all out in its adoption of the fast-growing Artificial Intelligence (AI) innovation.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.