Collaboration Between Social3 and Shardeum

The collaboration with Shardeum was revealed, and on their website, they have posted their present job positions.

The very first EVM-based L1 in the globe, Shardeum utilizes sharding to enhance TPS with each new node added.

They’re hiring right now: Engineer for DevOps and DevRel. With Social3, finding a job has now gotten very simple. You need to learn more about Shardeum before submitting applications for jobs. Let’s look further.

Over the last ten years, blockchain technology and its numerous applications—including cryptocurrency—have become increasingly popular. There are around 300 million users of cryptocurrency alone. Although forecasts suggest that the number of cryptocurrency users will soon reach one billion, obstacles still need to be overcome. Scalability, limited bandwidth, and excessive costs are the three problems that Layer 1 (L1) blockchains like Ethereum & Solana must deal with. These problems must be resolved to be adopted by the next billion people. Splitting and transmitting information among numerous machines, or “sharding,” holds the key to finding the solution.

Nischal Shetty, a co-founder of the crypto exchange WazirX, is collecting $17–$20 million for his brand-new blockchain-based company, Shardeum. Reports suggest that the money will raise Shardeum’s worth, which Shetty and blockchain engineer Omar Syed are developing in the US, to around $200 million. Shardeum promises to address Ethereum’s and other Blockchains’ current drawbacks, such as low scalability, expensive fees, and slow throughput.

It features enhanced security, great decentralization, and adaptability.

They are now engaged in a financing round with renowned VCs. Although it has not yet ended, they anticipate strong support for Shardeum and its goal of making blockchain technology faster, wiser, and more accessible to all users.

They look forward to disclosing additional information about their steps to speed up team growth and boost Web3 acceptance among consumers and developers.

The trilemma that most blockchains face, where they must choose between scalability, security, and decentralization, but can only choose two of these qualities, is being addressed by Shardeum.

According to the startup’s investor presentation, which TechCrunch has examined, Shardeum uses the sharding technology to divide the network into shards, allowing for more activities to be handled, checked, and validated concurrently.

The startup’s namesake blockchain, presently in testnet, seeks to be EVM-compatible, uses proof-of-stake and proof-of-quorum consensus processes to lower the cost of operating the network, and relies on three different types of nodes in its system: validator, archiving, and standby.

Shardeum expects to handle more than 100,000 transactions each second with 100,000 nodes and a delay of 10 seconds. The L1 blockchain will also offer strategies for easing the transition from Ethereum to Shardeum and preserving constant gas fees.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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