News By/Courtesy: Lia Jils | 29 Sep 2020 13:12pm IST

HIGHLIGHTS

  • Blockchain technology is one of the fastest developing technology in the world.
  • Proper regulatory framework can promote innovative blockchain startups.
  • 6 blockchain startups in India are descrbed and listed below.

Blockchain technology is one fastest developing technology around the globe. There is a regulatory clarity on the use of blockchain networks in India. A proper regulatory framework can promote blockchain startups. This write-up list about various blockchain startups in India across different domains including financial services, neo-banking, decentralized finance, and smart contracts.
1. CoinDCX
It was launched in April 2018. It provides users with single-point access to a diverse suite of crypto-based financial products and services that are backed by security processes and insurance. It offers the highest liquidity from leading global crypto exchanges. There is also another product Lend, which provides credit facility to users helping them to earn interests on cryptocurrencies. CoinDCX has raised 5.5 million so far.
2. InstaDapp
InstaDapp is one of the most prominent decentralized finance platforms. InstaDapp allows users with a single point of integration to access all the Defi protocols. InstaDapp raised around $2.4 million in funding from Pantera Capita, Naval Ravikant, and Coinbase Ventures.
3. KoineArth
KoineArth was started in 2017 to work at the crossing of blockchains, Al, and Mechanism Design. They provide data pipeline and machine learning algorithms to analyze blockchain-enabled interactions. This platform presents a solution that can be customized to produce a real-world blockchain using a configurable state machine for digital assets. KoineArth's MarketN platform is a collaboration platform that is a cloud-hosted blockchain and an Al-based product. It can bring all the suppliers in business for getting a real-time picture. the market operates within an organization but also with real-time data from suppliers.
4. Matic Network
It is a Bangalore based startup. It was launched on April 19 with a public Token Sale and the team raised $5,600,000. This blockchain uses an adapted version of Plasma Protocol with Proof of Stake (POS) based side chains. This solves the issues related to Ethereum block confirmations, high transaction fees, etc. Matic provides SDK and APIs for the simple and fast development of decentralized applications.
5. Nuo
 It is a decentralized finance application that unites lenders and borrowers by employing smaller contracts. This network uses partner exchanges for making smart contracts. Nuo was one of the first movers in the Defi protocol. This firm also launched another platform called Juno which relies on Nuo for neo- banking services. It has offices in Mumbai and Singapore.
6. WazirX
It is one of the leading cryptocurrency exchanges in India founded in December 2017. It was the first Indian exchange to use a native token called a WazirX token. Recently WazirX was acquired by Binance, which is the world's largest cryptocurrency exchange and blockchain ecosystems.
 
This article does not intend to hurt the sentiments of any individual, community, sect, or religion, etcetera. This article is based purely on the author’s personal opinion and views in the exercise of the Fundamental Rights guaranteed under Article 19(1)(A) and other related laws being enforced in India for the time being.

Section Editor: Pushpit Singh | 02 Oct 2020 10:48am IST


Tags : #science #technology #blockchain

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