Last updated on : April 12th, 2023 by R Yadav
Blockchain technology is one of the most transformative and disruptive innovations in the modern world. Since its inception, blockchain has changed the way we transact, manage data and interact with each other. However, despite its many benefits, blockchain faces several challenges that limit its full potential. One of the biggest challenges facing blockchain is scalability. This is where Shardum comes in.
Shardeum is the world's first auto-scaling blockchain. It is designed to address the scalability issues hindering the development of other blockchain systems. Shardeum achieves this through its unique architecture, which allows it to scale automatically as demand increases or decreases. In this article, we will take a closer look at Shardeum and how it works.
Shardeum is a new blockchain system built on a unique architecture that allows it to scale automatically. "The name Shardeum is derived from the words "Shard" and "eum". sad is a part of a database that is distributed across many nodes in a network. EUM, on the other hand, is a suffix that means to maintain.
Therefore, Shardeum can be described as a blockchain system that is distributed across multiple nodes and scales automatically. Shardeum was created with the aim of solving the scalability problem that has plagued many other blockchain systems. With Shardeum, users can take advantage of blockchain technology without worrying about scalability issues.
Shardeum is built on a unique architecture that allows it to scale automatically. The system includes three main components: the shard Network, the Shard Manager & the Shard Node.
Shard Network is the backbone of Shardeum. It is a network of interconnected nodes that are responsible for transactions and storage of data. The shard network is designed to be highly scalable and fault-tolerant, meaning it can handle large amounts of traffic and continue to operate even if some nodes fail.
Shard Manager is the brain of Shardeum. It is responsible for managing the shard network and ensuring that this happens automatically. The Shard Manager uses sophisticated algorithms to monitor traffic on the shard network and adjusts the number of shards accordingly.
The Sharda node is a node on the Shardeum network. It is responsible for the storage of transactions and data. A Shardeum node communicates with other nodes on the Shardeum network to ensure that all transactions are processed correctly and data is stored securely.
Now let's discuss the three key features of blockchain and how Shardeum is going to solve the Blockchain Trilemma.
The biggest challenge facing blockchain technology is scalability. Most blockchain systems have a limited capacity for processing transactions, which means they can only handle a certain number of transactions per second. This is a major issue because as more and more people start using blockchain technology, the number of transactions will increase, and the system may become overloaded.
Shardeum solves this problem through its unique architecture. The system is designed to scale automatically as demand increases or decreases. This means that as more people start using Shardeum, the system will automatically increase its capacity to handle the increased traffic. Conversely, if the number of users decreases, the system will automatically reduce its ability to conserve resources.
Another important aspect of blockchain technology is security. Shardeum uses a range of security measures to ensure that the system is secure and user data is protected. The system uses a consensus mechanism called 'Proof of Stake' (PoS) to validate transactions and prevent fraudulent activities. In PoS, nodes are selected to validate transactions based on the amount of their stake in the system. This means nodes with higher stakes are more likely to be selected to validate transactions, which makes it more difficult for attackers to conduct fraudulent activity.
Decentralization is one of the key features of any blockchain technology. It refers to the distribution of power and control over a network of nodes, rather than a single entity or authority being in charge. Decentralization is important because it makes blockchain systems more secure, transparent, and resistant to censorship or tampering.
Shardeum is a decentralized blockchain system built on a network of interconnected nodes. It is resistant to attacks and manipulation, and its transactions are transparent as they are recorded on the blockchain. The system achieves decentralization through a proof-of-stake (PoS) consensus mechanism, which selects nodes to validate transactions based on their stake in the system. Shardeum allows anyone to become a node on the network and participate in valid transactions, ensuring that the system is not controlled by a single entity. Additionally, Shardeum is interoperable with other blockchain systems, enabling greater distribution of power and control across different networks.
Sharding is a partitioning technique used to distribute computational and storage workloads across multiple nodes in a blockchain network, removing each node from handling the total transactional load on the network. Sharding breaks the work of validating and confirming transactions into smaller, manageable bits, which can be operated within a split or by reaching a consensus. One of the key benefits of sharding is that it allows the network to scale more efficiently and handle more transactions per second than non-sharded networks.
Dynamic state sharding, also called adaptive sharding, is a type of sharding designed to be flexible and easily adapted to changes in the overall blockchain ecosystem. Dynamic state sharding allows easy integration of upgrades over time without disrupting the workflow of the ecosystem. Therefore, the primary advantage of dynamic state sharding is the efficient upgrade of the blockchain network without stopping the overall flow of operations.
Shardeum blockchain network uses dynamic state sharding to allow nodes to provide dynamic address ranges across multiple shards. Unlike static state sharding, where all nodes in a shard cover the same address range of a shard, dynamic state sharding requires each node to have a different address range, but not covered by nodes in the corresponding shard. There is a significant overlap between the addresses provided. Since consensus is done at the transaction level, a transaction that affects multiple shards will be processed by these nodes simultaneously, which increases the speed and efficiency of the network.
Shardeum is an EVM-friendly layer one blockchain, which uses dynamic state sharding to improve scalability and performance while maintaining security and decentralization. The Shardeum team has an ambitious roadmap and plans to grow the platform into a comprehensive ecosystem with various features and services.
Alphanet (Q2 2022) :
In late April 2022, Shardeum released its Alphanet Liberty 1.0, followed by Liberty 2.0 in September 2022, which was the first Shardeum test network to support sharding capabilities.
Betanet (Q1 2023):
After nearly 5 months of testing and iterations, the team officially relaunched Betanet in early 2023 and made the node operation available to the community. It took exactly a full year from the project’s launch to the Sphinx Betanet release, the final test network.
Currently, the Shardeum Betanet Launch is live, and the team is focused on expanding the capabilities and features of the network. Some of the upcoming events are as follows:
Smart contract deployment: Shardeum will allow developers to deploy smart contracts on the platform using Solidity and other popular programming languages.
Token Issuance: Shardium will facilitate the creation and issuance of blockchain tokens, allowing developers to launch their own cryptocurrencies or digital assets.
Decentralized finance (defi): Sharda plans to integrate with existing defi protocols and launch its own defi applications including lending, lending and trading.
NFT Marketplace: This platform will facilitate the creation and trading of Non-Fungible Tokens (NFTs) and other digital collectibles.
Cross-Chain Interoperability: Shardeum plans to integrate with other blockchains to enable cross-chain transactions and interoperability.
The Shardeum team is also focusing on improving the security, scalability and user experience of the platform. They plan to implement various upgrades, including:
Cross-shard communication: Shardeum aims to improve cross-shard communication to enable faster and more efficient transactions across the network.
Layer-two solutions: The team plans to implement layer-two solutions such as state channels and rollups to further improve the scalability and performance of the network.
Governance: Saradha plans to implement a decentralized governance model, allowing stakeholders to participate in decision-making and vote on proposals.
Privacy: The platform will support privacy features such as zero-knowledge proofs to protect users' data and transactions.
Mainnet (Q2 2023) -
To be announced in Q2-Q3 of 2023.
Overall, Shardeum aims to become a leading player in the blockchain space, offering a comprehensive and user-friendly ecosystem for developers and users alike. The team is committed to delivering on its promises and continuously improving the platform's capabilities and features.
In recent years blockchain technology has transformed the way we transact and manage data. However, the biggest challenge facing blockchain is scalability, which limits its full potential. Shardeum is the world's first auto-scaling blockchain that solves this problem through its unique architecture, allowing it to scale automatically as demand increases or decreases. The system includes three main components: the shard network, the shard manager, and the shard node. Shardeum also uses a range of security measures, including a proof-of-stake consensus mechanism, to ensure that the system is secure and user data is protected.
Additionally, Shardeum is a decentralized blockchain system built on a network of interconnected nodes, making it resistant to attacks and manipulation. Dynamic state sharding, used by Shardeum, is a type of sharding that allows easy integration of upgrades over time without disrupting the workflow of the ecosystem. Overall, Shardeum offers a solution to the scalability problem that has plagued many other blockchain systems, allowing users to take advantage of blockchain technology without worrying about scalability issues.