What is SHM token?
Blockchain has solved but to solve problems of existing blockchians, new chains are emerging. Most of these chains are Ethereum Virtual Machine related.
Table of Contents
This is the distribution structure for SHM token :-
Node Mining: 51%
What is Shardeum?
Through dynamic state sharding, Shardeum, an EVM-based, linearly scalable smart contract platform, keeps genuine decentralisation and reliable security while offering minimal gas fees in perpetuity.
Shardeum is the first linearly scalable smart contract platform that boosts the number of nodes to improve the number of transactions per second (TPS).
Low gas fees are offered permanently by Shardeum, an EVM-based, linearly scalable smart contract platform that also upholds real decentralisation and reliable security.
A live audience recently witnessed a demonstration of linear scalability prior to the project’s alphanet debut, also known as “Shardeum Liberty.” Through the use of “dynamic state sharding,” linear scalability allows Shardeum to boost throughput (TPS) as new nodes are added to the network.
In the future, the network hopes to bring billions of daily users and a wide variety of dApps to Web 3.0.
The Solidity and Vyper programming languages. These are user- and developer-friendly. These are used to implement the smart contract from Shardeum.
Nodes on Shardeum
There are three types of nodes on Shardeum –
By taking part in the consensus, validator nodes validate network transactions. Because validator nodes don’t store the entire history, they are compact.
To be able to take part, they will need to stake SHM. They will receive SHM as payment from Shardeum for taking part.
The complete transaction history is kept on archive nodes. To encourage and provide an incentive for storing historical data, these will receive a percentage of the network reward.
In the Shardeum Network, Standby Nodes are the third type of node.
In times of traffic peaks, standby nodes assist in scaling the Shardeum network more quickly. They might or might not have to stake SHM, but they might also be eligible to receive a share of the network earnings.
At this time, they are not taking part in the consensus.
These are features of Shardeum Network
Layer 1 blockchain
Shardeum will effortlessly support any dApp that can run on the Ethereum Virtual Machine.
Low gas fee
In order to achieve linear scaling and guarantee cheap transaction fees even as usage increases, any node that joins the Shardeum network immediately boosts the network’s capacity overall and transactions per second (TPS).
To maintain fairness and eliminate miner extractable value, Shardeum processes transactions on a first-come, first-served basis with the same gas rate for all transactions.
Shardeum is an eco-friendly and sustainable PoS network.
The security of the network is increased by a leaderless Proof-of-Quorum (PoQ) consensus method, Proof-of-Stake (PoS) with slashing, standby nodes, node rotation, and permission less participation.
To ensure minimal latency, all transactions are promised to be executed quickly.
They are also promised to be irreversible after processing, resulting in immediate finality.
These are use cases for SHM based Network Shardeum –
Shardeum is based on EVM. The same Ethereum technology, including Remix and Truffle, may be used to create contracts written in Solidity or Vyper.
Join the Shardeum ecosystem to avoid worrying about rising gas prices ever again.
Shardeum NFTs will be quick, interoperable, and simple to use.
By offering a platform that enables decentralised user experiences that outperform centralised competitors at scale, Shardeum seeks to hasten the transition to Web 3.0.
Users can move wealth across the internet using Shardeum without the use of any middlemen, always for incredibly minimal rates, and with immediate finality.
Shardeum offers a platform for DeFi infrastructure that is scalable and has extremely cheap gas costs, making it accessible to both consumers and enterprises for even low value transactions.