Ethereum and Solana.
The founder of cryptocurrency exchange site WazirX has revealed Shardeum, a new blockchain that is apparently among the first layer-one blockchains being constructed in India.
Shardeum will face competition from other blockchains like Ethereum and Solan.
According to Nischal Shetty of The Economic Times, Shardeum, unlike other blockchain systems, will address scalability and high transaction fees. Nevertheless, it will maintain a high level of centralization, something he claims is lacking in most blockchains today.
Shetty believes that when the amount of users in the crypto-verse exceeds a billion, present blockchain technologies would be unable to cope. Sharding, he claims, is the solution to the issue. Sharding is a method of breaking down a network into smaller sections known as shards.
Shetty and Shardeum's creator, Omar Syed, intend to acquire funding by April in order to launch a beta in the third quarter of the year and finally release it to the public by the end of the year.
While Wazirx and Shardeum are distinct businesses, Shetty stated that he is concentrating his efforts on the blockchain in development. Syed is apparently the Shardeum's technical end, while Shetty is establishing a community around the blockchain.
