‏إظهار الرسائل ذات التسميات Biconomy. إظهار كافة الرسائل
‏إظهار الرسائل ذات التسميات Biconomy. إظهار كافة الرسائل

Biconomy Launches SDK to Simplify Transactions as Emphasis on User Retention for dApps Grow

Biconomy Launches SDK to Simplify Transactions as Emphasis on User Retention for dApps Grow

Leading Web3 developer platform Biconomy launches the Biconomy SDK, the ultimate toolkit that eliminates UX complexities and empowers developers to build without limits

Biconomy, the hyper-flexible toolkit that superpowers developers’ Web3 stacks, launches a software development kit (Biconomy SDK) to transform the way developers build easy-to-use decentralized applications (dApps).

Since 2019, Biconomy has been leading the Web3 infrastructure space by building easy-to-integrate, plug-and-play APIs for developers to scale their projects. The Biconomy SDK introduces time-saving steps for developers such as reducing multi-step transactions into one-click interactions, simple-to-use smart contract wallets, and a conveniently gasless and chainless experience for users.

As institutional and retail adoption of cryptocurrencies and dApps grow, dApp developers can onboard more Web2 users by hiding the nuts and bolts behind complex on-chain transactions.

This way, the majority of Web2 users can onboard and interact with dApps easily — playing games, buying and trading NFTs and other digital assets — without deep knowledge of blockchain technology. dApps can save their users a ton of time and costs.

“There is no point building in Web3 if no one can use your products. User onboarding and retention are key for the growth of individual dApps and the crypto environment as a whole. Biconomy was built with the next billion web3 users in mind and we are fulfilling this goal by meeting developer and user needs. From gasless to one-click transactions, we are making sure engaging with Web3 feels second nature and as easy as signing your name,” said Ahmed Al-Balaghi, Co-Founder of Biconomy.

With its current API suite, Biconomy enables more than 50,000 transactions daily, with gas fees sponsored by the dApps for users. It also allows users to pay for fees in a token other than that of the blockchain.

This has already resulted in onboarding more than 2.8 million Web3 users, more than 25 million transactions across 8 EVM chains, and integration with 200+ dApps including dYdX, Perpetual Finance, Aavegotchi, Decentraland, Sandbox, Animoca Brands, and Zedrun. 

The introduction of the Biconomy SDK opens up further opportunities. Developers can offer users practical UX benefits such as secure Web2-like social logins and recovery for accounts. One-click interactions for multistep transactions. Transaction batching removes the need for repeated authorization. Gasless and chainless experiences. Convenient fee payments in ERC20 tokens and fiat on-ramps and credit card purchases of crypto or NFTs

This means greater user retention as those trying to complete a transaction are less likely to give up halfway through a drawn-out transaction process. It also protects against failed transactions, as it guarantees they will all be settled. 

About Biconomy -  

Biconomy provides plug-n-play APIs to make web3.0 user-friendly & frictionless. We are on a mission to make the decentralized web accessible to everyone. We are the missing piece to crypto adoption for onboarding the next billion. Our APIs & SDKs transform any dApp to become usable for anyone regardless of their crypto knowledge and experience.

Blockchain Developer Platform Biconomy Launches Hyphen, an Instant Cross-Chain Transaction Infrastructure

Biconomy Founders- Sachin Tomar, Anikent Jindal, Ahmed Al- Balaghi

Hyphen will offer fast value transfers between Ethereum and Polygon and enable quick onboarding from Layer-1 networks to Layer-2 networks

New Delhi, August 11 2021 — Biconomy (https://biconomy.io/), a multichain relayer network building infrastructure to simplify the web3.0 experience, announced today the launch of its Hyphen mainnet. Hyphen enables instant and low-cost token transfers across different blockchains.

Recently, L2s have seen an exponential increase in demand with hundreds of Dapps moving to Polygon to obtain faster transactions & cheaper gas fees. However, the user experience moving into and out of Polygon is complicated, and time consuming. The launch of Hyphen will allow users to make USDC transfers between Ethereum and Polygon, facilitating those transfers in a few seconds, rather than the current 30 minute to hours it currently takes.

"On average, to transfer funds from Layer2 to Layer1 blockchains, it can take anywhere from 40-min to 7-days for users to receive their funds,” said Sachin Tomar, CTO of Biconomy. "More specifically, it currently takes around 40-50 min to get ERC20 tokens from the Polygon Network to Ethereum via their native bridge. This results in weakened network effects, low composability, and an overall more difficult experience for the end-user. Hyphen solves that problem."

Hyphen enables developers to offer instantaneous value transfers between EVM chains, various L2s, and sidechains. It also enables quick onboarding from L1 to L2s, further solving the scaling and congestion issues on Ethereum. It is a superhighway network that connects L2 communities while expediting network effects and increasing composability and interoperability. By maintaining and rebalancing token liquidity on both sides of the chain and instantly transferring tokens on the second chain after accepting tokens on the first chain, it is able to provide cheaper and instant transfer of funds across blockchain ecosystems.

“It is evident that the future of web3.0 will be multichain but ETH2.0 alone cannot onboard the next billion users,'' continued Sachin Tomar, CTO of Biconomy. “For a multichain future to become a reality, L1s, sidechains, & various scaling solutions need to be seamlessly integrated removing any friction for the end-user. Hyphen provides the instant and seamless bridge structure that will provide the infrastructure for a collaborative and connected web3.0."

The Hyphen mainnet launch comes on the heels of an exceptional year, in which Biconomy announced a $9M private funding round led by DACM and Mechanism Capital, the upcoming launch of its native token $BICO, and its expansion to support over 30+ Dapps.

To learn more about Hyphen please visit: https://hyphen.biconomy.io/haytf6rg3h28r76t32fgefhoiu972t3egr2

About Biconomy

Biconomy is a multichain relayer infrastructure network and transaction platform that enables Web3.0 developers to easily build applications. It reduces the friction between blockchain-based applications and end-users. Their relayer network is made up of a collection of software development kits (SDKs) and APIs designed to make DeFi more accessible and understandable for everyone, regardless of their knowledge and experience. Biconomy can be integrated with dApps and digital wallets, and it is both platform and blockchain agnostic.

To learn more about Biconomy please visit: https://biconomy.io

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