While blockchain technology is growing quickly around the globe, and there are very few Indian startups working in dispersed ledgers. The major explanation for the truth of the matter is that there has been regulatory clarity on the utilization of public blockchain networks in India for quite a long time. As per analysts, a proper regulatory framework can promote innovative blockchain startups.
Top Indian Startups in the Field of Blockchain Technology
The following startups work across various areas including exchanges, and Defi stages, smart contracts, and layer 2 scaling solutions.
CoinDCX
CoinDCX was established in April 2018 by Neeraj Khandelwal and Sumit Gupta in Mumbai. The startup furnishes clients with single-point access towards a diverse suite of crypto-based financial products and administrations that are upheld by security cycles and insurance. Its exclusive conglomeration model offers the most noteworthy liquidity from leading worldwide crypto exchanges. Clients can purchase and sell more than 100 coins immediately with INR. Apart from this, the startup has also launched DCX Learn, a platform for individuals through which they can gain information about cryptocurrency money and blockchain technology. CoinDCX raised 5.5 million investments so far from leading funding firms, for example, Polychain Capital, Coinbase Ventures, Bain Capital Ventures, and HDR Group.
KoineArth
Dr. Praphul Chandra, a teacher at Insofe organization, launched KoineArth in Bangalore in 2017 to work at the crossing of blockchains, AI, and Mechanism Design. The organization provides its customers with a data pipeline & machine learning algorithms to analyze blockchain-enabled interactions. KoineArth’s marketsN is a collaboration stage which is cloud-hosted blockchain and AI-based products. Utilizing the business, a business can unite all the suppliers for getting a constant picture.
Matic Network
Matic Network is a Mumbai-based startup established by Jayanti Kanani, Sandeep Nailwal, and Anurag Arjun. It was launched with a public Token Sale which occurred in April 2019, and the team raised $5,600,000. The organization aims to carry the massive scale to Ethereum blockchain utilizing an adapted version of the Plasma convention with Proof of Stake (PoS) based side chains. This handles the issue of moderate Ethereum block affirmations and high transaction fees, needed for mainstream adoption. Matic achieves scale by utilizing side chains for off-chain computation while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators.
Nuo
Varun Deshpande, Ratnesh Ray, and Siddharth Verma launched Nuo Network in 2018, which is a decentralized finance (DeFi) application that executes stage platforms uniting lenders and borrowers by employing smart contracts. Nuo Network utilizes partner exchanges for making trade through brilliant agreements. Nuo was one of the primary movers in the DeFi protocol space from India. The company has offices in Mumbai and Singapore. Its product has facilitated $25M in transactions for lending and borrowing. The firm likewise launched another digital banking platform called Juno, which is based on the head of Ethereum and depends on the Nuo convention for neo banking services.
WazirX
WazirX, one of the main digital cryptocurrency exchanges in India which was established by Nischal Shetty in December 2017. As far as crypto exchanges and trading platforms go, WaziX has distinguished itself from others. The stage likewise launched Smart Token Fund (STF) – a community-driven activity where cryptocurrency enthusiasts can discover smart traders, and let them develop their digital currency portfolio on WazirX. As of late WazirX was acquired by Binance, the world’s biggest cryptocurrency exchange, and blockchain ecosystem in terms of total volume traded, with users from over 180 countries.
