Unraveling Shardeum: An In-Depth Exploration of the New Layer 1 Blockchain

??Shardeum, an Ethereum Virtual Machine (EVM)-based Layer 1 blockchain, aims to shatter the blockchain trilemma — the issue that a blockchain can’t be simultaneously secure, decentralized, and scalable. ??The project uses dynamic state sharding, atomic processing, cross shard composability, and a Proof of Quorum (PoQ) consensus to offer scalability without compromising security or decentralization. ??

Shardeum’s sharding process enhances transaction speeds by breaking down the blockchain workload into smaller fragments or “shards.” ??The introduction of dynamic state sharding allows the network to efficiently scale as nodes are assigned a dynamic range of addresses across different shards.

??Founded by Nischal Shetty and Omar Syed, Shardeum also boasts of innovative features like Atomic Processing & Cross Shard Composability, which ensure transaction completion and mitigate network vulnerabilities. Additionally, it uses a linear scaling model that adds ‘standby’ validators during high demand to increase transactions per second (TPS), aiming to reach up to a million TPS.

The project’s native token, SHM, serves as a utility and rewards token. With 508 million SHM in circulation, the allocation is split between node mining (51%), sales (18%), team (15%), the foundation (11%), and ecosystem and airdrops (5%).

??Since its inception in 2017, Shardeum has made significant progress, with over 540,000 registered accounts, 1.5 million successful transactions, and more than 300,000 community members. ??The platform hopes to bring billions of users into crypto, tackling issues like high gas fees and latency experienced on other blockchains.

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