Skip to content

Arcana Network: Institutional Report

3 min readResearch

Arcana Network: Abbreviated Introduction

Cloud storage is a colossal market dominated by a few entities such as Amazon Web Services. The growing popularity of decentralized technologies gave rise to decentralized storage solutions like Filecoin, Arweave, and Sia. However, these solutions have several shortcomings. Some drawbacks
are that these platforms do not offer the same level of User Experience (UX) enjoyed by developers using traditional centralized contenders and easy payments. It has been difficult to onboard Web 2.0 developers (or non-crypto natives) to decentralized platforms, and even crypto natives are pivoting to centralized data storage solutions for their dApps.

Arcana Network attempts to address these drawbacks by offering the best of both the centralized world and decentralized platforms to provide application developers with tools to manage data storage and preserve privacy for the users.

Arcana Network is a privacy-centric decentralized data store providing a suite of products to allow developers to build more secure and privacy-preserving apps for their users. The main design goals of Arcana are sovereignty, economic security, ease of use, decentralization, security, privacy,
and modularity.

Arcana’s core concepts involve:
● Storage (Proof-of-Storage).
● Identity and access management.
● Non-custodial key management.
● End-to-End encryption.

Arcana’s blockchain is a Proof-of-Stake network based on the Istanbul Byzantine Fault Tolerance (IBFT) algorithm. $XAR functions as the network’s native token and pays for the costs of the consumed computing resources. The project has not yet announced a token offering.

The project falls within the Indian jurisdiction, which has made headlines after banning crypto in 2018. Although the Supreme Court of India reversed this ruling, a new bill is still being discussed.

The project’s company has raised approximately $2.7 million from a prominent group of institutional and individual investors.

Arcana has completed its Alpha Testnet and aims to launch the Beta Testnet.

Want access to the full breadth of our institutional-grade reports? Join our community of institutions and investors leveraging our industry-leading intelligence to navigate the world of crypto.

Disclaimer

This Report is for informational purposes only and/or all or any of its content thereof, should not, may not, and will not be taken to constitute, either as a whole or in part, any investment advice or recommendation or similar, regulated, or authorized advice, and D-Core by producing, disseminating, giving away, or making available this Report does not, should not, may not and will not be taken to advise on investments, or carry out any similar activity, or any regulated activity or any other authorized activity. D-Core is not authorized by the Financial Conduct Authority or by any other competent EU or elsewhere or otherwise competent authority to carry out any regulated activities and/or any activities within the scope of these authorities’ competence.

D-Core excludes and disclaims all liability and/or responsibility whatsoever and/or howsoever caused, arising out of any actions, or omissions taken, or made by any authorized and/or other recipient of this Report in reliance on, or arising out of, or in connection with any or all content of this Report. Any authorized and/or other recipient of this Report acknowledges, accepts and agrees that they carry out their own independent research and act in their own sole risk in reading or using any or all information contained in this Report. In any event, recipients of this Report are urged to seek professional advice before making any potential investment decision in relation to the project described herein. Any authorized and/or other recipient of this Report accepts this Disclaimer in full. For the avoidance of doubt, this Disclaimer is binding against any recipient of this Report whatsoever.

NEWSLETTER

Subscribe to our newsletter now and get your blockchain guide for free!

Exit mobile version