Shardeum ($SHM)

Let’s delve deeper into the project and address the question: What is Shardeum?

Shardeum is an EVM-compatible Layer 1 network with a revolutionary approach to scaling its own network - dynamic sharding. It aims to break the trilemma of blockchain networks, enabling the possibility to scale the network without compromising the level of decentralization and security. 

Sharedum offers multiple benefits for both developers and users, including:

• Improved user experience: The high-speed transactions and low costs allow users to utilize decentralized applications more easily and efficiently.
• Improved developer experience: Constantly low-cost fees and the ability to write decentralized applications in a language familiar to Ethereum developers make it easier for developers to write code, test it, and debug applications.
• Increased security of shards: Sharedum is well aware of the risks and weaknesses of sharding networks, and it minimizes them using staking, slashing, standby nodes, and node rotation. The Shardeum network is natively designed with both Proof of Stake and Proof of Quorum consensus mechanisms, which are utilized in the network based on the specific needs of distinct nodes.  

Find more info about the network’s security in Shardeum docs.

To ensure a high level of decentralization and enhance security within the network, Sharedum introduced its native $SHM token. Shardeum coin plays a main role in various functions such as staking and facilitating Proof of Staking mechanism, rewarding nodes, paying fees and incentivizing decentralized economy between the network’s decentralized applications. 

The network has already officially confirmed the Sharedum token release and announced the first phase of the $SHM airdrop.

Considering this information, the CoinLaunch team has analyzed the entire Shardeum crypto project across 8 key areas, including Product, Tokenomics, Security, Digital Marketing, Backers, Partners, Team, and Influencers. We have identified some pros and cons you need to consider before investing in the project or participating in the airdrop.

Shardeum pros:

• Interesting and unique concept for the network.
• Over 955K users on the platform.
• Engaging events and growth marketing activities.
• Strong PR, SEO, and social media performance.
• Experienced executive team.
• Support from numerous tier 1 and tier 2 partners and funds.

Shardeum cons: 

• Lack of security audits from tier 1 auditors.
• Initial market cap (16%) is too large compared to the fully distributed value (FDV).