Arpa was founded in 2018 by Felix Xu and Yemi Xu, who serve as CEO and COO, respectively.
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What Is ARPA Crypto?
ARPA is the native token of the ARPA Chain, a blockchain-based computation network. The ARPA token governs the network and is used to pay for data, computing power, security deposits, and other fees. Holders can stake their tokens to support the operation of the ARPA Chain and earn rewards. They can also vote on proposals related to the ARPA Chain.
According to CoinMarketCap, ARPA has a current circulation of 1.24 billion tokens out of a max supply of 2 billion. Starting in 2019, the team behind Arpa began buying 0.5% of the initial total supply and burning them each month.
History of ARPA Chain
The ARPA Chain was founded in 2018 to build a computation network that preserves privacy. This way, people could pay for computation services privately without giving up their identity. The network incorporated a grouping mechanism to enable multiple nodes to participate in computation tasks and deliver faster speed for users. The native ARPA token launched in 2019 after an initial coin offering that raised $8 million.
The ARPA Chain does not have its own independent blockchain but runs on the Ethereum blockchain.