Web3 startup zbyte has raised $10 Mn in a private sale. The startup aims to build decentralised applications (dApps) stores to help developers and enterprises to build such apps. zbyte is working on a blockchain-enabled, LCNC (low-code, no-code) platform.
The goal of the startup is to speed up adoption for enterprises wanting to build decentralised applications and platforms.
One of the biggest problems faced by Web3 platforms is to onboard users and making the user experience as smooth as a Web2 platform. The advantage that Web3 brings to the table is ownership or control of data and decisions in the hands of the end users. In order to allow users to safely leverage this advantage, the platform itself needs to integrate processes using Smart contracts and proper encryption. This is the biggest hurdle in user adoption as engaging with smart contract requires the knowledge of applications like Metamask and wallet connect.
If an enterprise were to build a Web3 platform, it can take away these hurdles by simply building a new layer for engagement. zbyte is building that middle layer that allows enterprises to seamlessly build the decentralised applications.
According to the startup, zbyte is creating a new category in the blockchain ecosystem: the decentralised platform (dPlat). dPlat removes the complexity of wallet management and enterprise connectors and allows developers and enterprises to build dApps on existing protocols via zbyte’s low-code/no-code platform.
It enables Web 3.0 ecosystems by removing the complexity for developers and enterprises to build dApps. The zbyte dApp store creates a thriving ecosystem of developers and users by allowing them to upload dPlat enabled dApps that leverage the public blockchain.
zbyte has four co-founders, Krish Kupathil, Nitin Kumar, Ankush Tiwari, and Saurabh Radhakrishnan. Krish is a serial entrepreneur, Nitin is a veteran strategist, Ankush is the technologist, Saurabh is also a serial entrepreneur.
According to Kumar, businesses are looking to provide better customer experiences, exponential effects from web3, and new revenue models. Organisations integrating web3 systems have a competitive advantage over those that do not, he added.