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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

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Overview

Project industryBlockchain Infrastructure
Product typeTechnology
FoundedIndia

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.

Details

Token supply: 508,000,000 SHM
Raised: 18,200,000 USD

Legal

Registration country: Switzerland
Registration year: 2021

Token info

Ticker: SHM
Type: Utility-token
Token distribution:
51% - Node mining
18% - Sale
15% - Team
11% - Foundation
5% - Ecosystem / Airdrops

Shardeum Roadmap

1
2017 - 2021

Consensus algorithm defined and tested

Auto scaling and rate limiting an unhardened network of 20 nodes

Linear scaling (small sharded nodes)

Small / medium AWS network

  • 100 nodes = 500 TPS
  • 200 nodes = 1000 TPS
  • 1000 nodes = 5000 TPS
2
Q1 2022

Initial Prototype

  • Demo of EVM integration with Shardus

Shardeum Foundation structured in Switzerland

3
Q2 2022

Alphanet 1.0 launch

  • 20 node unsharded network operated by Shardeum
  • Send transactions and deploy smart contracts
  • Deployed to individual medium nodes on AWS in different regions

Private sale started

4
Q3 2022

Alphanet 2.0 launch

  • 50 node sharded network operated by Shardeum
  • 10 node shard size
  • 5 archive nodes
  • Deployed to individual medium nodes on AWS in different regions
  • First smart contract platform to implement EIP2930

Private sale finished

5
Q4 2022

Betanet launch

  • Community can operate validator and archive nodes
  • Minimum network size of 1280 nodes with 200 TPS
  • Sharded network with shard size of 128 nodes
  • Node rotated between standby and active
6
Q1 2023

Mainnet launch

  • Token Generation Event
  • Public sale

Project team

Nischal Shetty
Nischal Shetty
Committer at Shardeum
Nischal Shetty linkedin
Omar Syed
Omar Syed
Co-Founder
Omar Syed linkedin

Social media

Shardeum web-siteShardeum RedditShardeumYouTubeShardeum TelegramShardeum InstagramShardeum LinkedInShardeum TwitterShardeum FacebookShardeum DiscordShardeum Github

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