Shardeum (SHM)

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release: aims for late 2023 (7-7-2023).

Audits & Exploits

• Bug bounty program can be found [insert here].

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on: its own L1
• Programming language used:
• Capacity (TPS):
• Latency:

How it works

• From their blog (1-3-2022):

"Sharded blockchains like Zilliqa group transactions into blocks and seek consensus at the block level. They can theoretically achieve higher efficiency with this, but it is not the most efficient way to deploy sharding. Since consensus and commitment takes place at a block level, the finality of transactions takes more time and resources. On the other hand, Shardeum achieves consensus on each transaction. A transaction in this case does not have to wait till a consensus is reached across multiple shards for processing. This allows the network to introduce the below mentioned features which when combined together makes Shardeum truly scalable, albeit, in a linear and horizontal way.

1. Dynamic Sharding : The network won’t have a static group of nodes as fixed shards. Nodes in the Shardeum network are free to move around and accommodate more data as dynamic shards.
2. Linear Scaling : Every node added to the network will increase the transaction throughput right away. It doesn’t have to wait for a fixed number of nodes to be added to the network for a new shard to be created.
3. Autoscaling : Shardeum is designed to auto-scale. The network maintains consensus on how many nodes it needs based on the traffic. It can allow more nodes to be added to the network based on bandwidth required and shrink down during trough periods. This adds to the high level of decentralization that is embedded in the network already."

Roadmap

• Can be found [Insert link here].

Team, Funding and Partners

Team

• Full team can be found [here].
• Co-founded by Nischal Shetty, who also founded the large Indian crypto exchange WazirX.

Funding

• Raised $5.4M in strategic funding, making the firm's most up-to-date valuation is $248 million. The funds came from:

Amber Group, Galxe, J17 Capital, TRGC, Jsquare, Bware Labs, Tané Labs, Hyperithm Group and Luganodes.

• From their blog (18-10-2022):

"Raised $18.2 Million in seed funding from more than 50 investors from around the world. Some of our investors include:

1. VCs like Jane Street, Big Brain Holdings, Struck Crypto, The Spartan Group, Ghaf Capital, DFG, CoinGecko Ventures, Foresight Ventures, Jsquare, Cogitent Ventures, WeMade, Veris Ventures, ZebPay, Tupix Capital, and MapleBlock Capital
2. Angel investors like Balaji Srinivasan, Mayur Gupta (CMO at Kraken), Ajeet Khurana (Founder at Reflexical), Harsh Rajat (Co-founder at Push Protocol), Michael Montero (Co-founder at Resy – acq. American Express), Ravi Adusumalli (GP at Elevation Capital), Vijay Pravin Maharajan (Founder at bitsCrunch), Nakul Gupta (Lead PM at Coinbase NFT Marketplace & Institutional Onboarding), Ganesan Swaminathan (Co-founder at Covalent), Pankaj Gupta (VP Engineering at Coinbase), Rohan Chauhan (Digital assets at Hudson River Trading), and Yele Bademosi (Co-Founder/CEO at Nestcoin, Founding Partner at Microtraction)"

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