Public Chain Project Shardeum Releases Whitepaper

Layer 1 blockchain project Shardeum released a whitepaper on the X platform. Shardeum closed an $18.2 million seed round last October, followed by a $5.4 million strategic funding round in July of this year.

The whitepaper emphasizes that Shardeum's token (SHM) is designed to be a deflationary asset with a fixed maximum supply, totaling no more than 508 million and not subject to any kind of future vote. Network participants can pledge their SHM, increasing the overall security of the network and earning rewards for active participation.SHM is a

Gas token

that allows network users to pay for the computational costs required for execution.

Details of the SHM token allocation are as follows:

• Community: 51% of the total supply (~259,080,000 SHM) as rewards for Verification Nodes and Archive Nodes;

• Sales: 18% of the total supply (~91,440,000 SHM), which will be subject to a 2-year daily linear unlock after a 3-month cliff period following the initial sale;

• teams: 15% of the total supply (approximately 76,200,000 SHM), again with daily linear unlocking beginning after the 3-month cliff period for 2 years;

• foundations: 11% of total supply (~55,880,000 SHM), unlocked at TGE;

• ecosystems: 5% of total supply (~25,400,000 SHM), unlocked at TGE.



Shardeum is an EVM-based Layer 1 blockchain designed for linear scalability, promising low gas fees while remaining decentralized and secure through dynamic state sharding.Shardeum's potential use cases range from DeFi to open source AI and gaming, and is designed to bring the next billion people into the

cryptocurrency

space. Its was created by Nishal Shetty, co-founder of Indian exchange WazirX.

To overcome the blockchain trilemma of scalability, security, and decentralization, Shardeum borrows from Ether's decentralization and security while enhancing linear scalability through dynamic sharding and its combination of Quorum and Proof-of-Stake consensus.