Arcana Network — Community Update — August 2021
We at Arcana Network have a lot of exciting updates to share. Starting from our first public partnership to the progress we’ve made on our platform front, there’s a lot of ground to cover. Our team is steadily focusing on the upcoming testnet launch, building out storage nodes and ensuring that developers get all necessary functionalities after launch. Coming to the community and growth front, we’ve been expanding our network through partnerships, community initiatives, talks, and knowledge sharing sessions, among others. Read on as we dive into all the areas of progress and latest updates.
Growth Numbers
Here’s a quick overview of our growth numbers:
- First public partnership and more in the pipeline
- 200+ Developers on the waitlist in 2 weeks of launch
Apart from getting into our first-ever public partnership, we’ve also managed to rack up more than 200 developers who are on the waitlist in two weeks of launch.
Project Updates
Seed round
We are more than thrilled to announce that Arcana has raised a 375,000 USD seed round of funding from renowned crypto investors, including Balaji Srinivasan (former CTO of Coinbase), Sandeep Nailwal and JD Kanani, Founders of Polygon (formerly Matic), and Kendrick Nguyen, Founder & CEO of Republic, among others. Apart from the said investors, we’ve also had some of the most recognizable names in the crypto and De-Fi ecosystem participate in the investment rounds. The latest round of fundraising will help us bolster our efforts in reaching our milestones, including the launch of our Testnet.
Platform update (concise version)
For starters, we’ve strengthened the encryption and decryption for outgoing and incoming files with AES-256. The TUS implementation for uploading files from DApps is now complete, along with file actions such as Share, Revoke, Change Owner, and Delete File now added to the platform. Basic DKG development has also been completed using Asynchronous Verifiable Secret Sharing (AVSS).
Our developer dashboard is undergoing major improvements, with a high fidelity wireframe under work. The information architecture of the dashboard is also being overhauled. Users will now be able to sign transactions without exposing their private keys as we’re through with basic web wallet iframe implementation.
Coming to Storage Node Apps, we’re working on implementing a storage wrapper, executing basic permission checks prior to file-related actions. In the area of Proof of Concepts, we’ve developed a demo app with a working Arcana DKG (Google Login), offering functionalities to mock upload, download, as well as listing of files.
Finally, in the realm of smart contracts, we’ve completed developing proxy and factory contracts for apps and logic/Arcana contracts for uploading and downloading files.
Our July’s platform update post is also out — check it out here and learn all there is to know about the latest platform updates.
Product Partnerships
Unmarshal
We’ve entered into a strategic partnership with Unmarshal, a Multi-chain DeFi data network. Arcana will help strengthen the security features of Unmarshal’s tech stack and operate a privacy as well as security framework. Through our identity and access management, we will secure Unmarshal’s end-points, granting access to only authorised users and apps. Simply put, we will help Unmarshal build their multi-chain DeFi indexing nodes. Unmarshal, in return, is going to index Arcana’s blockchain, facilitating seamless access and query of on-chain data for our developers.
“Serving data from the blockchain to developers and their users is a major problem, along with the complexity in transforming that data into a format that is easy to use and understand. Unmarshal’s API endpoints to query data will greatly reduce the friction that currently exists,” says our co-founder Aravindh.
Community Partnerships
Headstart
Arcana now joins hands with India’s largest startup ecosystem enabler, Headstart. In the realm of ecosystem development, our major focus lies in helping startups and developers adopt blockchain. Since inception, Arcana has always focused on fostering active adoption of blockchain, while parallelly creating novel projects and ventures in the realm of Web 3.0.
Through the partnership with Headstart, Arcana will help launch various initiatives to improve awareness of blockchain and accelerate its adoption. Startup founders, developers, and aspiring founders will all be supported by us through active mentorship and support in both adopting blockchain or building new blockchain projects.
If you wish to participate or learn more about our community initiatives, consider joining our Telegram or sign up on our email list.
Tweet link: https://twitter.com/ArcanaNetwork/status/1420672969102139395
IndiDAO Grant
We’re proud to share that IndiDAO, a community of leading figures in the cryptocurrency space, is now extending its support to Arcana through a grant contribution. Considering the fact that IndiDAO chooses nothing but the best projects to back, we’re thrilled to be the recipient of their grant. “We’re excited to work with IndiDAO, along with some of the best talent in the Indian Blockchain ecosystem,” says our founder and CEO, Mayur Relekar.
Initiatives
Bloc Talk
With an aim to let our community learn more about insights and growth playbooks from founders and investors in the realm of crypto and De-Fi, we’ve launched an initiative called “Bloc Talk.”
Our Bloc Talk series’ first talk was with Manohar Shetty of Unmarshal on the topic of “Building DeFi Infrastructure.” Many more exciting talks and insightful sessions are on the way. Stay tuned.
Tweet link: https://twitter.com/ArcanaNetwork/status/1420039832403734535
Crypto Startup Saturday
Through Crypto Startup Saturday, we want to help the crypto community gain valuable insights and actionable information straight from founders, investors, and other prominent people from the Crypto space.
The latest Crypto Startup Saturday marks our first collaboration with Headstart — making the event all the more exciting for us. We have Sandeep Nailwal, the cofounder of Polygon, Clarence Guo, director of Bayfront Law, Tushar Aggarwal, the founder and CEO of Persistence, and Santiago R Santos, a renowned DeFi investor, sharing invaluable insights in the session.
Follow us on our socials for regular updates on Crypto Startup Saturdays.
Checkout this video made by a community member: https://www.youtube.com/watch?v=aiYSO6il3T4
Our most popular meme: https://twitter.com/ArcanaNetwork/status/1417132523931402241
The Last Word
If you want to be a part of our vibrant community and initiatives, all you need to do is join our newsletter and follow us on our socials. More exciting events coming your way.
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