1/31 CT is obsessed with 2 things: L2s and Arbitrum projects.
But lets bring the focus back to L1s.
Introducing Shardeum, an L1 EVM dynamic state sharding chain.
Here's CTs very first comprehensive DEEP DIVE into Shardeum (@shardeum)
🧵
But lets bring the focus back to L1s.
Introducing Shardeum, an L1 EVM dynamic state sharding chain.
Here's CTs very first comprehensive DEEP DIVE into Shardeum (@shardeum)
🧵
2/31
Here's a gist of the thread:
1. How Sharding works
2. Shardeum Introduction
3. $SHM coin
4. Wen airdrop? 👀👀
Grab a coffee and enjoy this 10 minute read ☕
Here's a gist of the thread:
1. How Sharding works
2. Shardeum Introduction
3. $SHM coin
4. Wen airdrop? 👀👀
Grab a coffee and enjoy this 10 minute read ☕
3/31
1. How Sharding works
In traditional blockchains, each node stores a copy of the entire ledger.
All validators will help validate blocks and update the ledger. The updated ledger will then be enforced on all nodes.
1. How Sharding works
In traditional blockchains, each node stores a copy of the entire ledger.
All validators will help validate blocks and update the ledger. The updated ledger will then be enforced on all nodes.
4/31
The problem is, the more nodes a network has, the slower it becomes.
Communication and coordination between nodes can become more complex and time-consuming.
This added complexity slows overall processing speed, especially as the network grows larger and more dispersed.
The problem is, the more nodes a network has, the slower it becomes.
Communication and coordination between nodes can become more complex and time-consuming.
This added complexity slows overall processing speed, especially as the network grows larger and more dispersed.
5/31
Enter Sharding:
Sharding breaks the network into smaller groups and spreads the load across these small groups.
Not all validators (in PoW, its miners) will validate all blocks. Instead, each validator processes only a small group of data (a shard)
Enter Sharding:
Sharding breaks the network into smaller groups and spreads the load across these small groups.
Not all validators (in PoW, its miners) will validate all blocks. Instead, each validator processes only a small group of data (a shard)
6/31
State sharding -
"State" is the current status of the network (address balances, transactions, etc.)
State sharding stores different states in different shards to reduce the storage burden of each node
State sharding -
"State" is the current status of the network (address balances, transactions, etc.)
State sharding stores different states in different shards to reduce the storage burden of each node
7/31
Dynamic sharding -
Dynamic sharding adjusts the number and size of shards dynamically in response to changes in network demand and usage.
This helps to ensure that the network remains efficient, even as the number of transactions and users increases.
Dynamic sharding -
Dynamic sharding adjusts the number and size of shards dynamically in response to changes in network demand and usage.
This helps to ensure that the network remains efficient, even as the number of transactions and users increases.
8/31
2. Introduction to Shardeum
Shardeum was founded in 2022 by Nischal Shetty and co-founded by Omar Syed, @OmarUnblocked
@NischalShetty is also the founder of Indian-based crypto exchange WazirX, @WazirXIndia
WazirX has >6M users and claims to have ~$5.4B in monthly volume
2. Introduction to Shardeum
Shardeum was founded in 2022 by Nischal Shetty and co-founded by Omar Syed, @OmarUnblocked
@NischalShetty is also the founder of Indian-based crypto exchange WazirX, @WazirXIndia
WazirX has >6M users and claims to have ~$5.4B in monthly volume
9/31
Many core team members and employees building Shardeum come from WazirX
Here's what I found stalki-, i mean, digging deep on LinkedIn 👇
Many core team members and employees building Shardeum come from WazirX
Here's what I found stalki-, i mean, digging deep on LinkedIn 👇
10/31
Shardeum received a $18.2M Seed round investment in October 2022 from prominent names including Spartan Group, Jane Street and CoinGecko.
Shardeum received a $18.2M Seed round investment in October 2022 from prominent names including Spartan Group, Jane Street and CoinGecko.
11/31
Since we're all "in it for the tech", here's Shardeum's tech -
Shardeum uses Dynamic State Sharding (Combination of Dynamic + State sharding)
Shardeum also incorporates many unique features such as linear scaling, node rotation , load detection and auto-scaling.
Since we're all "in it for the tech", here's Shardeum's tech -
Shardeum uses Dynamic State Sharding (Combination of Dynamic + State sharding)
Shardeum also incorporates many unique features such as linear scaling, node rotation , load detection and auto-scaling.
12/31
Linear scaling: Every node added to the network will increase the transaction throughput instantly
Auto-scaling: Automatic adjustment of the no. of nodes in response to changes in demand/load, allowing the network to maintain its efficiency and responsiveness as it grows.
Linear scaling: Every node added to the network will increase the transaction throughput instantly
Auto-scaling: Automatic adjustment of the no. of nodes in response to changes in demand/load, allowing the network to maintain its efficiency and responsiveness as it grows.
13/31
Consensus Algorithm
Shardeum combines both Proof of Stake (PoS) and Proof-of-Quorum (PoQ).
We're all pretty familiar with PoS, but what's PoQ?
Consensus Algorithm
Shardeum combines both Proof of Stake (PoS) and Proof-of-Quorum (PoQ).
We're all pretty familiar with PoS, but what's PoQ?
14/31
PoQ validates transactions individually once they get a timestamp.
A receipt is generated to show that a majority of validators voted for the transaction, and when votes exceed 50%, it is accepted.
A more detailed explanation can be found here: shardeum.org.
PoQ validates transactions individually once they get a timestamp.
A receipt is generated to show that a majority of validators voted for the transaction, and when votes exceed 50%, it is accepted.
A more detailed explanation can be found here: shardeum.org.
15/31
Consensus on the network is done at the transaction level instead of the block level, eliminating limitations of fixed block time/block size.
This means finality is achievable quickly with low latency to avoid network congestion
Consensus on the network is done at the transaction level instead of the block level, eliminating limitations of fixed block time/block size.
This means finality is achievable quickly with low latency to avoid network congestion
16/31
A few other chains that use State Sharding include: Near, Harmony and Elrond
If you'd like to read more, I'd highly recommend these threads from the L1 god, @CharlieXDeFi:
NEAR -
Elrond -
Harmony -
A few other chains that use State Sharding include: Near, Harmony and Elrond
If you'd like to read more, I'd highly recommend these threads from the L1 god, @CharlieXDeFi:
NEAR -
Elrond -
Harmony -
17/31
Roadmap:
Q2 2022 - Alphanet Liberty 1.0
Q3 2022 - Alphanet Liberty 2.0
Q4 2022 - Liberty 2.1 Upgrade
Q1 2023 - Betanet Sphinx
Q2 2023 - Slated to launch on Mainnet (estimated in March)
Roadmap:
Q2 2022 - Alphanet Liberty 1.0
Q3 2022 - Alphanet Liberty 2.0
Q4 2022 - Liberty 2.1 Upgrade
Q1 2023 - Betanet Sphinx
Q2 2023 - Slated to launch on Mainnet (estimated in March)
18/31
Q2/Q3 2022 - Shardeum Alphanet - Liberty 1.0/2.0
Shardeum's Alphnet was largely successful, seeing over 1.5M transactions and 500K+ wallets across Liberty 1.0 and Liberty 2.0:
explorer-liberty10.shardeum.org
explorer-liberty20.shardeum.org
Q2/Q3 2022 - Shardeum Alphanet - Liberty 1.0/2.0
Shardeum's Alphnet was largely successful, seeing over 1.5M transactions and 500K+ wallets across Liberty 1.0 and Liberty 2.0:
explorer-liberty10.shardeum.org
explorer-liberty20.shardeum.org
19/31
Q1 2023 - Shardeum Betanet
Just recently (2 Feb), they launched their Betanet, Sphinx, and with it, the launch of Proof of community NFTs called POAPs for joining their live launch.
Q1 2023 - Shardeum Betanet
Just recently (2 Feb), they launched their Betanet, Sphinx, and with it, the launch of Proof of community NFTs called POAPs for joining their live launch.
20/31
Betanet Sphinx has 1.9K wallets with 3.6K transactions within 1 day of launch
explorer-sphinx.shardeum.org
Betanet Sphinx has 1.9K wallets with 3.6K transactions within 1 day of launch
explorer-sphinx.shardeum.org
21/31
Ecosystem
Shardeum currently has 55 listed projects ranging from NFTs to Infrastrucutre.
However, in their dApp sign-up list, there are 90 dApps that applied (#gid=1908941518" target="_blank" rel="noopener" onclick="event.stopPropagation()">docs.google.com)
Hence, some may still be in the process of being listed
Ecosystem
Shardeum currently has 55 listed projects ranging from NFTs to Infrastrucutre.
However, in their dApp sign-up list, there are 90 dApps that applied (#gid=1908941518" target="_blank" rel="noopener" onclick="event.stopPropagation()">docs.google.com)
Hence, some may still be in the process of being listed
22/31
These 6 dApps on Shardeum's Testnet saw massive usage & adoption.
@SwappedFinance
@spriyomarket
@chainhash_io
@dotshmdomains
@ShardexOrg
@OnBndit
These 6 dApps on Shardeum's Testnet saw massive usage & adoption.
@SwappedFinance
@spriyomarket
@chainhash_io
@dotshmdomains
@ShardexOrg
@OnBndit
23/31
3. $SHM Coin
Shardeum intends to launch its native coin to reward validators and node owners, and for paying gas fees.
As part of Shardeum's long-term goal to become a DAO, I would assume $SHM would be used for governance in the future.
3. $SHM Coin
Shardeum intends to launch its native coin to reward validators and node owners, and for paying gas fees.
As part of Shardeum's long-term goal to become a DAO, I would assume $SHM would be used for governance in the future.
24/31
$SHM Distribution:
Community- reward to nodes/validators, archive and standby servers
Sale- 3 month cliff, 2 years linear vesting
Team- 3 month cliff, 2 years linear vesting
Foundation- unlocked at Token Generation Event (TGE)
Ecosystem- unlocked at TGE
Max Supply: 508M
$SHM Distribution:
Community- reward to nodes/validators, archive and standby servers
Sale- 3 month cliff, 2 years linear vesting
Team- 3 month cliff, 2 years linear vesting
Foundation- unlocked at Token Generation Event (TGE)
Ecosystem- unlocked at TGE
Max Supply: 508M
25/31
The Public Sale & TGE is slated to happen in Q2 2023 ~March upon the launch of the Mainnet
The Public Sale & TGE is slated to happen in Q2 2023 ~March upon the launch of the Mainnet
26/31
4. wEn aIrDrOp?
Yes, yes. you probably skipped to this part eh?
Shardeum HINTED about an airdrop in their FAQs.
5% of $SHM (25.4M) will be allocated for an airdrop to early community members.
This is apart from the potential airdrops Shardeum projects could offer.
4. wEn aIrDrOp?
Yes, yes. you probably skipped to this part eh?
Shardeum HINTED about an airdrop in their FAQs.
5% of $SHM (25.4M) will be allocated for an airdrop to early community members.
This is apart from the potential airdrops Shardeum projects could offer.
27/31
Steps to Qualify:
1. Add Sphinx Betanet to your Metamask
docs.shardeum.org
(at the time of writing, Liberty still works, you could add Liberty and faucet some tokens there too)
Steps to Qualify:
1. Add Sphinx Betanet to your Metamask
docs.shardeum.org
(at the time of writing, Liberty still works, you could add Liberty and faucet some tokens there too)
29/31
3. FAAFO, I'm no genie. Interact with dApps (e.g. ShardeumSwap, SwappedFinance) and do stuff you'd normally do to qualify for an airdrop 😂
3. FAAFO, I'm no genie. Interact with dApps (e.g. ShardeumSwap, SwappedFinance) and do stuff you'd normally do to qualify for an airdrop 😂
30/31
Useful Links:
Projects on Shardeum: shardeum.org
Shardeum Docs: docs.shardeum.org
Shardeum Litepaper: drive.google.com
All of their official links & socials: #gid=0" target="_blank" rel="noopener" onclick="event.stopPropagation()">docs.google.com
Useful Links:
Projects on Shardeum: shardeum.org
Shardeum Docs: docs.shardeum.org
Shardeum Litepaper: drive.google.com
All of their official links & socials: #gid=0" target="_blank" rel="noopener" onclick="event.stopPropagation()">docs.google.com
31/31 I put a lot of effort into these threads.
If you found them helpful please leave a❤️& Retweet the first tweet below if you can 🙏
Follow me
@0xsurferboy for more deep dive threads into untapped CT topics.
If you found them helpful please leave a❤️& Retweet the first tweet below if you can 🙏
Follow me
@0xsurferboy for more deep dive threads into untapped CT topics.
Gigabrains who may be interested 🔥
@DefiIgnas
@crypto_linn
@crypthoem
@defi_mochi
@CryptoShiro_
@DAdvisoor
@CharlieXDeFi
@DeFi_Cheetah
@2lambro
@arndxt_xo
@crypto_condom
@DegenCamp
@ThorHartvigsen
@DefiIgnas
@crypto_linn
@crypthoem
@defi_mochi
@CryptoShiro_
@DAdvisoor
@CharlieXDeFi
@DeFi_Cheetah
@2lambro
@arndxt_xo
@crypto_condom
@DegenCamp
@ThorHartvigsen
Fellow discord gigabrains 🔥
@rektdiomedes
@0xFlips
@Chinchillah_
@jake_pahor
@Subli_Defi
@Slappjakke
@0xSalazar
@thelearningpill
@WinterSoldierxz
@0xCrypto_doctor
@DeFiMinty
@0xSalazar
@kindahangry
and the smooth brain
@schizoxbt
@rektdiomedes
@0xFlips
@Chinchillah_
@jake_pahor
@Subli_Defi
@Slappjakke
@0xSalazar
@thelearningpill
@WinterSoldierxz
@0xCrypto_doctor
@DeFiMinty
@0xSalazar
@kindahangry
and the smooth brain
@schizoxbt
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