When Satoshi Nakamoto – the anonymous person or people – created Bitcoin on the back of blockchain technology, what nobody quite envisioned was that it would go on to create an industry that thrives on the very same technology employed.
That market is now valued at nearly $5.3 billion globally, with the same expected to grow to $34 billion by 2026.
However, cryptocurrencies as an asset class are not the only force driving the growth of this industry. There are several organizations in the backdrop that have emerged to be the backbone of the industry, thus creating a ripple effect.
In fact, what is most striking about the emergence of this industry is the parallel with the Internet revolution. This has roped in companies and countries alike, with a majority of them already looking into ways to tap into this technology and be the major contender of this new race.
In this aspect, India is by no means lagging behind.
The country has seen a significant rise in startups associated with cryptocurrencies and blockchain technology, with these companies raising nearly $600 million in funding this year alone – Its highest figures so far. Notably, while this industry is on the rise in the country, there are some Indian crypto-startups that are already making great strides in the global market.
Some of the homegrown crypto-startups that have made a name for themselves on a global scale are – Polygon, AMBCrypto, Hyperlink, WazirX, Bitdeal, CoinSwitch Kuber, Bitdeal, MindDeft, Covalent, InstaDapp, SoluLab. and Nuo.
- Polygon
Previously known as Matic Network, based out of Bengaluru, the company was founded by Sandeep Nailwal, Jayanti Kanani, and Anurag Arjun. The start-up was launched in 2019 with the intention of providing layer two scaling solutions for products built on top of the Ethereum network.
Since then, the company has rebranded as Polygon – Ethereum’s Internet of Blockchains – in pursuit of transforming Ethereum into a “multi-chain…
