Shardeum, an EVM-based sharded blockchain, recently secured $5.4 million in a strategic funding round. The investment comes from a consortium of investors and will be instrumental in supporting the ecosystem’s growth as the mainnet launch approaches later this year.
Shardeum stands as a layer 1 blockchain that utilizes sharding to enhance its transaction processing speed, measured in TPS (transactions per second). With the addition of each new node, the platform experiences a boost in TPS while still maintaining atomic composability. Additionally, Shardeum ensures low gas fees indefinitely, upholding decentralization and security through dynamic state sharding.
The funding round was led by prominent entities such as Amber Group, Galxe, J17 Capital, TRGC, Jsquare, Bware Labs, Tané Labs, Hyperithm Group, Luganodes, Blockchain Ventures Hub, CryptoViet Ventures, and Blue7.
Shardeum was established in 2022 by Nischal Shetty, the founder of Wazirx, and Omar Syed. The company’s goal was to create a scalable, secure, and decentralized blockchain platform.
In 2023, Shardeum plans to launch its mainnet, welcoming developers and users interested in building decentralized applications.
The recent successful funding round is a significant milestone for Shardeum. It positions the company favorably to achieve its objectives and establish a prominent presence in the blockchain industry.
Here are some of the key benefits of Shardeum:
- Scalability: Shardeum can scale to handle millions of transactions per second.
- Security: Shardeum is a secure platform that uses sharding to improve decentralization and security.
- Low fees: Shardeum will offer low gas fees for users and developers.
- Developer-friendly: Shardeum is a developer-friendly platform that is easy to use and deploy applications on.
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