๐๐ Unlocking Web3 Privacy with Arcana Network ๐๐
๐ Let's dive into key features and potential of #XAR in this captivating thread! ๐งต๐
1๏ธโฃ Introduction and Overview: Arcana Network offers a decentralized storage layer for Ethereum-based dApps, prioritizing privacy and security. Founded in 2019, it aims to be the most developer-friendly platform in the space.
2๏ธโฃ Technology and Features: Utilizing cutting-edge tech like DKG and Threshold cryptography, Arcana provides Web3 Authentication and frictionless transactions. It enables sending crypto over email and offers SDKs/APIs for seamless dApp integration.
3๏ธโฃ Whitepaper Analysis: Arcana's privacy stack empowers developers to build secure apps, utilizing advanced cryptography like DKG and proxy re-encryption. It supports Ethereum and plans to expand to other chains.
4๏ธโฃ Use Case: Arcana Network powers private NFTs, DeFi protocols, and more. $XAR incentivizes nodes and validators, facilitates staking, and fuels network governance.
5๏ธโฃ Team and Leadership: Founded by Mayur Relekar, Aravindh Kumar, and Abhishek Chaudhary, Arcana prioritizes developer-friendliness and decentralization.
6๏ธโฃ Partnerships: Arcana raised $2.3M in a strategic round led by Republic Crypto and Woodstock Fund, with notable investors like DCG and Fenbushi Capital.
7๏ธโฃ Security and Audits: Certik audited Arcana's smart contracts, ensuring robust security. Threshold cryptography safeguards user keys, enhancing privacy.
8๏ธโฃ Tokenomics and Supply Detail: With a genesis supply of 1 billion $XAR and a circulating supply of 88.93 million, $XAR serves various network functions, including staking and governance.
9๏ธโฃ Exchanges: $XAR is trading on exchanges like ByBit and Gate.io, offering liquidity and accessibility.
๐ Conclusion: Arcana Network pioneers Web3 privacy, embodying decentralization and usability. With a dedicated team and growing community, it's poised for further innovation in the crypto space. ๐๐
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