Shardeum (SHM)

Shardeum is the world’s first EVM-based L1 blockchain which uses dynamic state sharding to increase TPS with the addition of every new node. Use cases: P2P transfers, DeFi, dApps, Web 3.0 and NFTs.

Seed Round: $18.2 Million

Testnet: Details

Whitepaper

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What is Shardeum

Shardeum is an EVM-based, linearly scalable smart contract platform that provides low gas fees forever while maintaining true decentralization and solid security through dynamic state sharding.

Shardeum is attempting to solve the trilemma affecting most blockchains where they have to prioritize among scalability, security and decentralization, but at best they can pick only two of these attributes.

Shardeum is employing a technique called sharding that partitions the network into shards, resulting in more transactions being processed, verified and validated in parallel. The startup’s blockchain, which is currently in testnet, aims to be EVM-compatible and use proof-of-stake and proof-of-quorum consensus mechanisms to reduce the cost of running the network and rely on three types of nodes — validator, archival and standby — in its network.

Shardeum anticipates that it will be able to process more than 100,000 transactions per second with 100,000 nodes and will maintain a latency of 10 seconds. The L1 blockchain will also provide ways to help Ethereum developers transition to Shardeum and maintain stable gas fees.