The Shardeum, the Indiana-Best Layer 1 Blockchain Project announced the launch of the Testnet EVM compatible as part of its mission to develop the DAPP ecosystem in India. The network incorporates the widely used infrastructure of the Ethereum Virtual Machine (EVM), which provides immediate compatibility by the developers, while Shardeum continues to build autoscaling EVM ownership for long-term global adoption.
Launching emphasizes Shardeum’s vision of creating a decentralized network that is affordable, accessible, and designed for the size of India’s digital economy. Today, India counts more than 50 million crypto exchange users, but only one part active on-chain. With the adoption of crypto worldwide crossing 500 million, Shardeum believes India represents the single biggest unfinished on-chain opportunity.
Established by Nischal Shetty, who built and scale Wazirx in India’s largest crypto exchange builds in his experience of platforming platforms that introduced millions of Indians to digital ownership. Having witnessed the first hand both the opportunities and challenges of the web3 adoption in India, Shetty’s focus is now on the creation of infrastructure that can serve users of massive size.
Nischal shetty cofounder, shardeum “Shardeum is built with a simple but ambitious goal: to take decentralization of the masses, and build the DAPP ecosystem in India. We want to ensure that every Indian can participate in the open and decentralized financial network that grows worldwide and Indian devs can create successful dapps for this ecosystem.
Consistent with Testnet, Shardeum prepares a redenomination of the native SHM token, which changes the supply from 250 million to 60 billion. Each holder will see balances that increase 240x without dilution. The change aims to make SHM more divisible and easy to use.
Shardeum aims to help India developers create successful Dapps. India should have its own ecosystem of Dapps with products that are customized for Indian users. We invite budding developers and businessmen across the country to join us in developing a DAPP ecosystem in India.
About Shardeum
Shardeum is a layer 1 blockchain that builds a foundation for a homegrown on-chain ecosystem. We develop DAPPs for India, applications that are affordable, accessible, and designed for the needs of a digital-first population. By enabling developers and users who have moved across the exchanges and into decentralized networks, Shardeum aims to unlock the next stage of web3 adoption in India. For more information, visit https://shardeum.org/
Source: Shardeum
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