Shardeum (OLD)Price

(SHM)

Shardeum is an Ethereum Virtual Machine compatible Layer 1 blockchain designed to achieve high scalability and decentralization. The project aims to solve the scalability trilemma by providing a network that can scale linearly, meaning its transaction capacity increases as more validator nodes are added. This architecture is intended to maintain permanently low transaction fees and high throughput for developers and users. A core innovation of Shardeum is its use of dynamic state sharding. Unlike traditional sharding, which splits a network into fixed sections, dynamic state sharding allows the network to automatically adjust the number and size of shards based on current demand. This approach enables parallel transaction processing and helps prevent network congestion. Furthermore, Shardeum utilizes a blockless architecture where consensus is reached at the individual transaction level rather than the block level. This design choice is intended to reduce latency and provide immediate finality for transactions. The network operates through a unique hybrid consensus mechanism that combines Proof of Stake with Proof of Quorum. Proof of Stake ensures that validators have a stake in the network to maintain security, while Proof of Quorum allows the network to generate receipts showing that a majority of a consensus group has validated a transaction. This dual system supports a leaderless process where transactions are processed on a first come first serve basis. The native token of the ecosystem is SHM. It serves several essential functions within the network: 1. Gas Fees: SHM is used as the primary currency for paying transaction fees and the computational costs of executing smart contracts. 2. Staking: Participants stake SHM to operate validator nodes. This process secures the network and allows validators to earn rewards for their participation. 3. Governance: Token holders can participate in the governance of the protocol, voting on key proposals and technical upgrades to the network. 4. Incentives: The token is used to reward various types of nodes, including validator and archiver nodes, for providing infrastructure and storage services. Shardeum is designed to be fully compatible with Ethereum-based tools and applications, allowing developers to migrate decentralized applications easily. The project focuses on onboarding a global user base by ensuring that infrastructure remains accessible to participants with standard hardware, further promoting decentralization across the ecosystem. Through its combination of auto-scaling and transaction-level consensus, Shardeum seeks to provide a foundation for high-demand Web3 applications like decentralized finance and gaming. Learn more

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