Shardeum, a Layer 1 blockchain, has opened its network Mainnet for all users and aims to offer use cases for growing industries such as payments, remittances and retail.
A Layer 1 blockchain is the main network responsible for executing transactions, validating data and maintaining consensus.
Shardeum aims to drive the next wave of future blockchain innovation by eliminating technical barriers and offering predictable, low fees, according to the statement issued by the company.
The Shardeum network will be useful for developers from emerging markets such as India, as it is completely decentralised and fully scalable with a transaction cost as low as less than Re 1 ($0.01) thereby making it as affordable as UPI, said the company.
The network aims to offer multiple future use cases, especially for growing industries such as payments, remittances, retail, gaming, healthcare, e-commerce, micro-payments, among others, it added.
Srini Parthasarathy, Chief Technology Officer said Shardeum has been built with the conviction that the future of Web3 must be open, inclusive and truly scalable.
During its test phases (testnet), Shardeum attracted over 1.4 million global participants and over 1.71 lakh physically run validator nodes, it claimed.
Adam Struck, Managing Partner at Struck Crypto said Shardeum is proving that scale, security, and true community ownership can co-exist on a single Layer 1.
They are building an autoscaling network and anyone can help secure it in under a minute, he said.
Shardeum is backed by prominent investors, including Struck Crypto, Amber Group, Big Brain Holdings, Foresight Ventures, Arrington Capital, Jsquare/DFG, Amber Group, Axelar Foundation, The Spartan Group, Ghaf Capital, Jane Street, Alphemy Capital, Balaji Srinivasan, CoinGecko among others.
Published on May 7, 2025
