Blockchain Projects Face Obstacle

99% of Mainstream Users Don’t Have a Blockchain Wallet.

Karel Striegel
Apr 9 · 4 min read

Many people have heard about blockchain technology and understand it has many significant benefits, such as improving payment systems, automating procedures, as well as immutably storing, transferring and tracking data in real-time.

But still, they’re not sure how to effectively implement blockchain in their own business without either developing a deeper knowledge of a somewhat esoteric technology or hiring a blockchain specialist with that specific skill set.

In addition to this, 99% of the mass-consumer market does not yet have a blockchain wallet. Both of these issues restrict the potential growth, expansion, and profitability of a company’s product or service. Because the innovative technology is vastly superior to existing applications in many respects, those who have the capacity to adapt and scale it will be the ones who come out on top in the years to come.

There is a solution to this evolutionary hurdle, for both consumers and for service providers with help of Arkane Network.

What is Arkane Network?

The Arkane Network makes crypto more accessible to users, whilst simultaneously making it easier for developers and businesses to leverage the power of blockchain technology.

At its core: Arkane is a user-friendly, multi-chain digital wallet which means that it is a single web application that can support a variety of crypto-assets from a single interface.

It is managed and operated in a very similar fashion to an online web banking app. Transfers can be made between different wallets just the same as if you were transferring money between accounts — with the click of a button and a 6-digit pin code.

As opposed to the majority of other digital wallets which are somewhat foreign and complex, the process of using Arkane Network is succinct, with no need to externally store and manage several long cryptographic passwords and shift between each wallet’s individual UI.

At a larger scale: Arkane is a development infrastructure that provides businesses with ready-made blockchain solutions. It can very simply be deployed into existing systems or used to build new applications. Arkane-supported apps become ‘DApps’ (decentralized applications) and the Arkane system will automatically create multi-chain wallets for all of the DApp’s users upon their onboarding.

To explain this further, Arkane can be thought of as a translation layer — it translates the complex code of blockchain into a language understood by most developers (REST API). This removes the barrier to entry and the need to become an expert, or hire an expert so that any business, product, or service can enjoy the benefits of blockchain technology and provide their own users with multi-chain digital wallets and alternate means of payment.

It can be compared to the leveraging of PayPal in a sense, for example, if an online store wanted to integrate PayPal into their payment system they don’t need to understand and create PayPal’s code from scratch, they simply deploy Paypal into their own system.

This is essentially what the Arkane Network offers, but with access to multiple blockchain ecosystems, wallets, and all other Arkane supported DApps just as a base to further build upon.

Arkane interoperability: Because Arkane supports multiple blockchains, all of the supported blockchain ecosystems can be used, strengthened and integrated by one another. So far, Bitcoin, Litecoin, Ethereum, GoChain, Tron and VeChain are all supported by Arkane, which means that any application built upon or integrated with Arkane will be able to utilize all of these network’s features.

It also means that anyone who has an existing Bitcoin, Ethereum, or VeChain wallet can import them into their Arkane account. For a user, this makes it very convenient to transition over to Arkane to gain access to a more user-friendly account with a global view of all over your wallet’s activity. And for a business or project developer, this broadens the scope of your potential DApp users, and even more so by all the other Arkane supported DApp’s users who will also be able to import your DApp into their existing accounts.

A real-life use case of this is Thorblock, which leverages Arkane Network to make their crowd-pooling DApp user-friendly. Thorblock is supported by the VeChain blockchain network, which demonstrates one of the many ways that VeChain is strengthened by its integration with Arkane and carries through to its extended apps.

Furthermore, Arkane users are able to use their Arkane account to log in to Thorblock and use their VeChain wallet to participate in the pooling service that Thorblock is offering. As you can see this is highly beneficial to Thorblock which is made accessible to a much wider user-base than what they would be on their own.

User-Friendly is Key to Success

Arkane Network gives businesses the power to focus on their specific product/service and user experience by providing technologies that make applications more interoperable and user-friendly. In doing so, Arkane creates a gateway to new opportunities and entirely new marketplaces, driving the evolution of a wide range of global industries.

You can learn more on the Arkane Network Blog.

Or, check out https://Arkane.Network.

This story is published in The Startup, Medium’s largest entrepreneurship publication followed by +441,678 people.

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Karel Striegel

Written by

Co-Founder and CEO of Arkane.Network

The Startup

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