Tech startup LycanChain set to reshape the future of blockchain
- 16 Jul 2024
Sajjad Ahmad, Deputy Business Editor
India-based technology startup LycanChain is set to decentralise the future of blockchain technology with a relentless commitment to innovation, security and scalability.
The platform is poised to revolutionise the digital economy by introducing innovative tech products.
In a groundbreaking move, LYC2024 has announced the advent of the “Age of the Beast” with the launch of LycanChain, a pioneering Layer 1 Blockchain Network that operates on a unique Hybrid Delegated Proof of Stake (H-DPOS) consensus mechanism. This bold initiative promises to revolutionise the Web3 landscape with its innovative technologies and robust ecosystem.
LycanChain made a powerful entrance into the world of emerging technologies during an exciting event in Dubai on July 13, 2024.
The event, LYC2024, featured the first-ever Lycan Node live auction and Lycan DApp Grants aimed at incentivising early adopters. These initiatives are designed to foster a thriving community and accelerate the adoption of LycanChain.
The Lycan Node live auction presented a unique opportunity for participants to secure nodes within the LycanChain network, providing them with governance and staking privileges. The auction attracted significant attention from blockchain enthusiasts and investors alike, with 7 nodes auctioned due to overwhelming demand, despite initially planning for 3.
Additionally, the Lycan DApp Grants programme offers financial support and resources to early developers and projects building on the LycanChain platform. This move underscores LYC2024’s commitment to nurturing innovation and supporting the growth of its ecosystem.
Speaking at the event, Ganesh Lore, Founder of LycanChain, highlighted the significance of the live auction as a milestone, stating, “Today’s live auction was a unique opportunity for participants to secure nodes within the LycanChain network, which provides them the governance and staking privileges.”
LycanChain’s unique protocols are set to introduce novel solutions to the Web3 space, making it a formidable contender among emerging blockchain networks. The platform’s H-DPOS consensus is expected to enhance security, scalability, and efficiency, setting new standards in the industry.
Future plans for LycanChain include creating a mechanism for Layer 2 Blockchain. Pioneering in Layer 2 network capabilities, LycanChain is set to revolutionise the development process with the introduction of its native AI bot, Lucian, designed to drastically reduce the time and effort required by developers to create user interfaces (UI). Additionally, LycanChain is developing a comprehensive dApp library, featuring a wide range of pre-built dApps, covering various use cases from supply chain management to financial services.
Nipoon Agarwal, CEO of LycanChain, added, “We believe in the mass reach of blockchain technology. LycanChain is already making headway around the world with partnerships on their way in GCC and Africa. We are advocating the customisation and simplification of blockchain technology, so it will be handy and used by any customer without apprehension or difficulty.”
The event also provided a sneak peek into some of the unique protocols introduced into the Web3 landscape, such as Omega Minter, Lucian AI, and native applications like Blockchain Land, LycanPay, Lunar Wallet, and Werewolf Exchange.
Opening up its doors to partnerships and early investors, LycanChain invites those who are passionate about technology to join the Wolfpack and witness the revolution firsthand. As the “Age of the Beast” begins, the blockchain community eagerly awaits the transformative potential of LycanChain.
