<p>Founder of crypto trading platform WazirX has announced a new blockchain called Shardeum, which is reportedly one of the first layer-one blockchains being developed out of India. </p>.<p>Shardeum will compete with other blockchains like Ethereum and Solan.</p>.<p>Nischal Shetty told <a href="https://economictimes.indiatimes.com/tech/technology/wazirx-founder-launches-blockchain-called-shardeum/articleshow/89304295.cms" target="_blank"><em>The Economic Times</em></a><i> </i>that, unlike other blockchains, Shardeum will solve for scalability and expensive transaction costs. It will, however, maintain a high level of centralisation, something he said was missing in most blockchains today.</p>.<p>Shetty said when the number of people in the crypto-verse reaches a billion, the current systems of blockchain will not be able to solve that. He said the solution to the problem is Sharding, which is reportedly a process of breaking down a network into smaller pieces, also called shards. </p>.<p>Shetty and Omar Syed, the builder of Shardeum, are planning to raise funds by April to unveil a beta in the third quarter of the year and eventually open it to public by the year end. </p>.<p>While Wazirx and Shardeum are two different entities, Shetty said he is focusing on the under-development blockchain. Syed is reportedly the technical end of the Shardeum, while Shetty is building a community around the blockchain. </p>.<p><strong>Check out latest DH videos here</strong></p>
<p>Founder of crypto trading platform WazirX has announced a new blockchain called Shardeum, which is reportedly one of the first layer-one blockchains being developed out of India. </p>.<p>Shardeum will compete with other blockchains like Ethereum and Solan.</p>.<p>Nischal Shetty told <a href="https://economictimes.indiatimes.com/tech/technology/wazirx-founder-launches-blockchain-called-shardeum/articleshow/89304295.cms" target="_blank"><em>The Economic Times</em></a><i> </i>that, unlike other blockchains, Shardeum will solve for scalability and expensive transaction costs. It will, however, maintain a high level of centralisation, something he said was missing in most blockchains today.</p>.<p>Shetty said when the number of people in the crypto-verse reaches a billion, the current systems of blockchain will not be able to solve that. He said the solution to the problem is Sharding, which is reportedly a process of breaking down a network into smaller pieces, also called shards. </p>.<p>Shetty and Omar Syed, the builder of Shardeum, are planning to raise funds by April to unveil a beta in the third quarter of the year and eventually open it to public by the year end. </p>.<p>While Wazirx and Shardeum are two different entities, Shetty said he is focusing on the under-development blockchain. Syed is reportedly the technical end of the Shardeum, while Shetty is building a community around the blockchain. </p>.<p><strong>Check out latest DH videos here</strong></p>
