In the previous articles of the Project Spotlights series, where we’re interviewing projects developing on Binance Smart Chain, we shared with you the first three projects – ForTube, BurgerSwap, and Bounce. We continue with the Project Spotlights interviews, and the fourth project you’ll learn about is Arkane Network.
Learn what Arkane is, what led them to build on BSC and their vision of the future of DeFi.
We believe this will help you better understand the advantages and perks of Binance Smart Chain and persuade you to consider BSC as an infrastructure provider for your dApp or DeFi platform.
Please describe your project to those who might not be familiar with Arkane.
Arkane: Arkane helps developers easily onboard mainstream users to their Dapps by offering them the ability to register users through social logins and create a blockchain wallet for the onboarded user. It acts as a communication layer where the user uses Arkane to securely sign transactions within the (d)app without any learning curve.
Why did you decide to migrate/build on Binance Smart Chain?
Arkane: Arkane offers businesses a developer-friendly platform to interact with the blockchain and build dApps. Our customers are experiencing issues where the Ethereum network is currently too slow and expensive. As a mid-tier solution, our job is to offer our business clients solutions that can scale and be cost-effective.
What do you see as the main advantage of BSC compared to other blockchains?
Arkane: The flexibility and scalability of Binance Smart Chain combined with cost-effective in-network fees are very advantageous. The ability to easily port smart contracts from Ethereum is a significant edge.
The main advantage of Binance Smart Chain is being able to join the Binance ecosystem where there is better support for applications with a business model involving a token economy.
How was the migration process? Can you name some of the highlights or positive experiences and, on the other hand, some of the challenges?
Arkane: The Binance team was very enabling during the integration. There is good communication and follow up, which makes collaboration very easy and pleasant. The integration process was smooth since the Binance Smart Chain is EVM-compatible. Everything was well documented, so there weren’t any unwanted surprises.
A small challenge could be that it is a very young ecosystem that will be snowballing. While it is a smooth transition, we must ensure that the tools and services that come to Binance Smart Chain will be an added value for the long term growth so that Binance Smart Chain can be used for and relied upon when building real-world applications. Businesses and enterprises rely on professional tools and services.
What kind of perks or benefits within the Binance ecosystem directly affect the performance and success of Arkane?
Arkane: The most significant benefit is being part of a vibrant and growing ecosystem where we experience generous support from the Binance team to make our tools and services available for any developer looking to build on the Binance Smart Chain. It gives our business clients a better alternative to creating their own products and services with blockchain technology.
What do you hope to see next from the BSC community?
Arkane: I hope to see BSC and Binance make a huge contribution to the gaming industry. Arkane is developing tools for traditional game studios to leverage blockchain technology and NFTs. We hope that Binance can effectively manage the transaction speed and costs while maintaining a public and decentralized nature of blockchain technology. The combination of our customized products and services with their blockchain infrastructure is a perfect fit.
Where do you see DeFi and BSC in five years?
Arkane: In 2019, I visited Blockshow in Singapore and heard CZ talk about Binance’s vision of Building the Binance Ecosystem. I am confident that the development of Binance Chain and Binance Smart Chain plays a vital role in increasing the freedom of money. DeFi will continue to grow into an industry of its own, supported by a decentralized and open platform such as Binance.
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