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, In an exclusive interview with BitcoinWorld, We bring Shardeum to discuss how they are solving the blockchain scalability issue.
Can you provide us with an understanding of the purpose and vision of Shardeum, as stated on the website?
The last decade has witnessed the ever-growing popularity of blockchain and the emergence of its applications. However, one issue has remained consistent, i.e., lack of scalability. It has been discussed that sharding is the best solution to this issue, and Shardeum aims to do exactly that without compromising the principles of decentralization and security. Shardeum will use dynamic compute and state sharding to accommodate billions of daily active users, allowing for global-scale decentralized applications. The project is developing a novel technology that incorporates sharding and auto-scaling to provide high throughput, low latency, and immediate finality while maintaining the highest level of decentralization and security possible.
With Shardeum, our goal is to provide the world with a sharded, infinitely scalable blockchain while ensuring true decentralization. We are building a crypto infrastructure that can support over a billion people. We will be focused on making it cheaper and faster with every release. With Shardeum, decentralization will be affordable for everyone.
How does Shardeum plan to transform the gaming industry, from your perspective? Could you highlight the key features and advantages of using Shardeum for those in the gaming industry?
Emerging markets like India, Brazil, Nigeria, etc., and countries where blockchains are primarily used for gaming, payments, and P2P transfers will pave the way for mainstream blockchain adoption. A rapidly growing user base is causing L1 blockchains to become slower, more expensive, and unsustainable. Networks are exploring sharding to tackle the compute bottleneck and increase network capacity. Due to its low transaction fees and immediate finality, Shardeum aims to acquire a large user base in such markets.
Can you introduce us to the team behind Shardeum and their relevant experience in the field?
Shardeum is founded by Nischal Shetty, a well-known entrepreneur with over a decade of experience building and scaling global products out of India, and Omar Syed. Omar is a blockchain architect with over three decades of experience in building distributed scalable, fault-tolerant systems for NASA, Yahoo, and Zynga. A globally distributed team of over 40 members, there are folks with expertise across tech, QA, marketing, business development, etc.
Can you share your plans for the future growth and development of Shardeum?
Most recently, we released our Betanet “Sphinx” on 2nd Feb 2023. The network has become one of the most decentralized testnet in web3, with over 1200 validators within a few days of the launch.
Sphinx was launched with over 2,500 live viewers and IRL watch parties organized and hosted by community members across 17 cities and 10 countries! Within 24 hours of the launch, over 200 nodes were run by community members.
Currently, Shardeum Sphinx has around 1400 validators. Most importantly, 95% of the validator nodes are run by the community! It’s a remarkable feat by an L1 and demonstrates the strength of the community. The user-friendly and permissionless GUI, along with minimum hardware requirements, has made Sphinx accessible and one of the most adopted testnets!
We released Sphinx 1.1 on 15th February 2023, and it’s already crossed 2000 total validators.
Our tech team is in the process of filing for some defensive patents on some of the innovations that have been developed. We’ll open-source the code for everyone to contribute as soon as the process is completed. All of the Shardeum code will be open-sourced. We’re also working on releasing the Shardeum whitepaper very soon.
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