Arcana Network — Community Update — October 2021
October has been an exciting month for us at Arcana. Not only are we steadily working towards our testnet launch, but we are also bolstering our community efforts and getting into exciting partnerships. We closed our strategic funding round and raised $2.3 million from some of the most recognizable names in the crypto and blockchain ecosystem. On the product front, we’ve made several changes to our storage SDK, DKG SDK, and Storage Node. Our founder & CEO Mayur Relekar has recently spoken on a panel discussion with some of the most recognizable names in the Indian blockchain space. More on the panel discussion later in the blog post.
Without much ado, let’s get on to the full details of all the updates we’ve got to share! Read on.
Here’s how our latest growth numbers look:
- We’ve crossed 1000 members on our Telegram group
- Over 2000+ developers have signed up for Arcana’s testnet. We’ve gone from having 300 developers to 2000+ developers on our waitlist in 10 weeks.
Strategic Funding Round from leading investors
We’ve successfully raised $2.3 million in the latest strategic funding round led by Republic Crypto and Woodstock Fund. We also saw participation from Hyperedge, Sahil Lavingia’s SHL Capital, Digital Currency Group, Arcanum Capital, and Paradigm Shift VC among others. This fundraiser has been the second one since our initial seed round in July.
Prominent online publications in the crypto and blockchain space, including but not limited to Forbes India, The Economic Times, Financial Express, Outlook India, NewsBTC, Bitcoinlist, Coingape, Coinpost, Coinreaders, Blog Vietnam, and Coin Quora have covered our success story in the latest strategic funding round. Here’s the full blog to learn more.
With our testnet launch around the corner, it seemed like the best time to relaunch our website. Prior to relaunching the website, we announced a Twitter contest where our new website was made accessible eight hours in advance; but here’s the caveat — the website was encrypted. Anyone to decrypt the website by answering our question could access the website a few hours before it was officially launched. Users who successfully answered our question and unlocked the website earlier and tweeted a screenshot of it even stood a chance to win $100.
Platform Update (concise version)
We have implemented a number of key changes to our DKG SDK, storage node, and storage SDK. Apart from that, we’ve also started developing a PoC. Fallback functions are added to the Arcana SDK, which allows developers to trigger different functions based on the events that may occur in an API call. Developers can now aggregate logins across various OAuth protocols. Coming to the storage node, we’ve added an authentication layer.
We’ve developed a demo app which we’ll soon release. Through this app, developers can gain a better understanding of the functionalities available to them when a dApp is integrated with our platform. Here’s a list of a few other updates that we’ve made to our platform:
- Three fallback functions (on success, on error, on progress) for upload and two (on success, on progress) for download have been developed.
- Login SDK provides OAuth login support for Google, Discord, Twitch, Reddit, and Twitter accounts. With the recent update, we provided the option to aggregate logins even if a user signs up with the same identifier across different OAuth protocols.
- Demo app has been implemented along with a proof of concept showcasing how it is to integrate an app with our SDK. Front-end development of the app is done as well.
- Smart contracts are updated to eliminate user convergence during upload. Default app-level limits are also added in smart contracts.
Want to know more about our latest platform update? Check this blog out.
Arcana and Rage.Fan have partnered up! Rage.Fan is a decentralized fan-first sports fantasy platform. Arcana is helping Rage.Fan to transition from IPFS to our decentralized storage. This move helps Rage.Fan improve their privacy, security, as well as transparency.
Rage.Fan is also looking to explore our range of private NFTs and privacy stack for login/authentication and access control. With our privacy stock, Rage.Fan can offer a seamless login experience for its users.
“Partnerships are all about pushing the boundaries on innovating for the customer through our products. Our partnership with Arcana will help us deliver exactly that while we explore new and innovative ways to deploy and bring robust scalability and privacy to our technology stack and eventually the RageFan users and community,” says Satheesh Ananth, Founder & CEO — Rage.Fan.
Check this blog out to learn more about our partnership details and commitments with Rage.Fan.
From the start, ecosystem development and community partnerships for us meant helping startups, founders, and developers build on blockchain. We do know that innovating and building in Web3.0 requires a paradigm shift in approaching growth and networks. So the gap between Web 2.0 and Web 3.0 ecosystems must be bridged. With that intention, we’re going to partner with BuildersTribe, a network-based Web3 incubator. We’ll work hand-in-hand with BuildersTribe and help existing as well as aspiring founders in our community and ecosystem through a structured program that provides easy access to knowledge, mentors, and key insights.
We’ll soon release full details of the upcoming partnership. Keep following us and watch out for more updates.
Events & Initiatives
Decoding The Playbook For Building Blockchain Startups
Our founder and CEO Mayur Relekar was part of a panel discussion in ‘The Crypto Summit’ — India’s largest crypto and blockchain summit.
The panel discussion “Decoding the Playbook for Building Blockchain Startups” covered topics such as creating a blockchain product thesis, advice on finding engineers for a blockchain startup, essentials to get a blockchain MVP right, and product-market-fit in blockchain. Apart from our founder & CEO, the panel discussion featured Jenil Thakker, founder & CEO of Coinvise, Firdosh Sheik, cofounder and CEO of Drife, and Kaavya Prasad, cofounder of Lumos Labs, among others.
We’ve condensed our CEO Mayur’s part of the panel discussion and put together a blog post. Check it here: https://bit.ly/ArcanaFounderAdvice
Those were the updates for October. Follow us on our socials and sign up on our newsletter to stay updated with all our updates, latest content, informational articles, and more. More exciting stuff coming your way.
About Arcana Network
Arcana Network is a decentralized storage layer for Ethereum, offering storage for DApps built on EVM compatible chains, such as Ethereum, Binance chain, and Polygon (Matic). But Arcana doesn’t stop at storage. To fully realise the privacy and data ownership benefits of decentralized storage, you need a suite of services, which are currently not decentralised. Arcana fixes this with its Privacy Stack. Arcana’s Privacy stack offers Decentralized Storage that is end-to-end encrypted, Non-custodial Key Management Services (KMS), and Decentralized Identity and Access Management.