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An (n, t, d, n-t)-arithmetic secret sharing scheme (with uniformity) for Fqk over Fq is an Fq-linear secret sharing scheme where the secret is selected from Fqk and each of the n shares is an element of Fq. Moreover, there is t-privacy (in addition, any t shares are uniformly random in Fqt) and, if one considers the d-fold "component-wise" product of any d sharings, then the d-fold component-wise product of the d respective secrets is (n - t)-wise uniquely determined by it. Such schemes are a fundamental primitive in information-theoretically secure multiparty computation. Perhaps counter-intuitively, secure multi-party computation is a very powerful primitive for communication-efficient two-party cryptography, as shown recently in a series of surprising results from 2007 on. Moreover, the existence of asymptotically good arithmetic secret sharing schemes plays a crucial role in their communication-efficiency: for each d ≥ 2, if A(q) 2d, where A(q) is Ihara's constant, then there exists an infinite family of such schemes over Fq such that n is unbounded, k = Ω(n) and t = Ω(n), as follows from a result at CRYPTO'06. Our main contribution is a novel paradigm for constructing asymptotically good arithmetic secret sharing schemes from towers of algebraic function fields. It is based on a new limit that, for a tower with a given Ihara limit and given positive integer l, gives information on the cardinality of the l-torsion sub-groups of the associated degree-zero divisor class groups and that we believe is of independent interest. As an application of the bounds we obtain, we relax the condition A(q) 2d from the CRYPTO'06 result substantially in terms of our torsion-limit. As a consequence, this result now holds over nearly all finite fields Fq. For example, if d=2, it is sufficient that q = 8,9 or q ≥ 16.