Shardeum

Mission & Key Concepts

Shardeum is a sharded EVM-based L1 smart contract platform with a mission to enable decentralization for everyone. Currently, decentralized applications are limited by rising gas fees and long transaction queues as a result of blockchains that can’t scale. Our team envisions a world where decentralized applications are adopted globally, enabling a more equitable society with less power put in the hands of a few centralized entities.

Current challenges

To accelerate the adoption of dApps Shardeum is building the most advanced iteration of a state sharded smart contract platform. Dynamic state sharding enables Shardeum to increase TPS with each node added to the network. We are obsessed with making the vision for a decentralized future a reality and seek individuals who share the same passion. The Shardeum Foundation is a small but highly experienced team distributed globally who have worked with NASA, Yahoo, Raytheon, Zynga, Microsoft, Ethereum Foundation, PayPal, etc.

Future directions

The initial focus for Shardeum is to build the most optimal layer one solution with sustainable low gas fees while providing the same developer and user interface as Ethereum. After launch of the mainnet the goal of Shardeum will be to grow the ecosystem as quickly as possible. Though the ecosystem evolves at such a rapid pace that it is impossible to predict what the future holds, we expect the following 4 broad areas for decentralized applications on Shardeum, each of these closely dependent and working in sync with one another:

• Infrastructure
• Community (Peer to Peer)
• Enterprises
• Academia

History and achievments

Founded: 2022

HQ: Geneva, Geneve, Switzerland

Funding

• Shardeum has raised a total of $18.2M in funding over 2 rounds. Their latest funding was raised on Oct 18, 2022 from a Seed round.
• Shardeum is funded by 28 investors. Balaji Srinivasan and The Spartan Group are the most recent investors.

Core team

• Nischal Shetty, Co-Founder: Founder of WazirX, India’s largest crypto exchange with over 10M users and $45B+ trading volume. Prior to WazirX, he built and scaled a social media product called Crowdfire to over 20M users. Previously featured in the Forbes India 30 under 30 list, he is a blockchain evangelist and one of the most notable proponents of crypto in India.
• Omar Syed, Co-Founder: Omar is a blockchain architect with over 30 years of experience in helping organizations such as NASA, Yahoo, Zynga build fault-tolerant, distributed systems. Omar holds a B.S. and M.S. from Case Western Reserve University with specialization in Artificial Intelligence.