A recently-developed product from Seracle, a Web3 infrastructure platform headquartered in Canada and Pune, has been designed to empower every developer, however small, to build his/her own blockchain solutions. “They can register on our platform and then start using our Application Programming Interface (API) to build their own decentralised application,” says Shrikant Bhalerao, who founded the startup ‘Seracle’ along with Akshay Soam.
Blockchain is a system of recording data so as to make it impossible to alter, hack, or cheat the system through the use of a decentralised network and cryptographic hashing.
“If we see the current internet or information technology system, we notice that it does not give you ownership of data. However, when you are on blockchain, you own the data and control access to that information. This ownership of data and immutability of data, which means that the data cannot be tampered with or duplicated, are blockchain’s primary features, says Bhalerao who adds that even a few government bodies in India are using blockchain now.
Apart from Web3, which is the new revolutionary idea on the internet comprising decentralised apps, Seracle has created a Blockchain-as-a-Service platform and offers “a Whitelabel Crypto exchange and other software solutions for businesses”. The company has more than 40 projects, focusing on North America, Europe and Asia. Healthcare blockchain for a Silicon Valley company is one of their previous projects. In India, Seracle’s recent projects revolve around Metaverse.
The new offering from Seracle also includes working with small-size individual developers who want to act in the Web3 space without having to set up an entire blockchain server and other expensive infrastructure on their own.
“This is where we step in by offering our API at reasonably lower rates per month for individual developers. There are a lot of people in the Web2 space interested in entering the Web3 space, but they have the hurdle of not having access to blockchain services, and that is why we aim to solve it. Additionally, anyone can create their NFTs marketplace using our API,” says Bhalerao.
For all other products, Seracle’s average ticket size is $75000 per month, and they expect to onboard more than 10,000 developers. Set up in 2018, the company is bootstrapped. “We are building ourselves in such a way that all the turnkey products we have are accessible to developers or a larger audience at a reduced cost. That’s our focus for this quarter,” says Bhalerao.