Collaboration between Social3 and Shardeum
The collaboration with Shardeum was revealed, and on their website they have posted their current vacancies.
Shardeum, the very first EVM-based L1 in the world, uses sharding to improve TPS with each new node added.
They are currently hiring: Engineer for DevOps and DevRel. With Social3, it has now become very easy to find a job. You need to learn more about Shardeum before submitting applications for jobs. Let’s look further.
Over the past ten years, blockchain technology and its many applications – including cryptocurrency – have become increasingly popular. There are around 300 million cryptocurrency users 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 have to deal with. These problems must be solved to be adopted by the next billion people. Splitting and transferring information between many machines, or “sharding”, is the key to finding the solution.
Nischal Shetty, one of the founders of the crypto exchange WazirX, is raising $17-20 million for its brand new blockchain-based company, Shardeum. Reports suggest the money will boost the value of Shardeum, 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 has improved security, good decentralization and adaptability.
They are now in the process of a financing round with recognized VCs. Although not yet finalized, they expect strong support for Shardeum and the goal of making blockchain technology faster, smarter and more accessible to all users.
They look forward to revealing additional information about their steps to accelerate team growth and increase Web3 adoption among consumers and developers.
The trilemma that most blockchains face, where they have to choose between scalability, security and decentralization, but can only choose two of these attributes, is addressed by Shardeum.
According to the startup’s investor presentation, which TechCrunch reviewed, Shardeum uses sharding technology to divide the network into shards, allowing multiple activities to be handled, checked and validated simultaneously.
The startup’s namesake blockchain, currently in testnet, seeks to be EVM compatible, uses proof-of-stake and proof-of-quorum consensus processes to lower the cost of running 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 every second with 100,000 nodes and a delay of 10 seconds. The L1 blockchain will also offer strategies to ease the transition from Ethereum to Shardeum and maintain constant gas fees.
