Cryptocurrency

With Shardeum, WazirX founder aims to achieve infinite blockchain scalability – JibGlobe

With Shardeum, WazirX founder aims to achieve infinite blockchain scalability – JibGlobe #Shardeum #WazirX #founder #aims #achieve #infinite #blockchain #scalability #JibGlobe Welcome to JibGlobe, here is the new resources we have for you today:

In the blockchain neighborhood, scalability has been the widespread purpose to convey Web3 to mainstream adoption. A key concern, nonetheless, is whether or not the expertise can successfully develop to a worldwide stage whereas sustaining safety, pace, and decentralisation.

WazirX Co-founder and CEO Nischal Shetty and US-based blockchain architect Omar Syed needed to clear up the issue of scalability.

Nischal tells The Decrypting Story, “One solution for achieving scalability is building on Layer 2 chains. But some Layer 2 solutions may compromise on decentralisation and have a ceiling. They are cheaper today because a low number of people use them. If more people start using L2, they might get expensive.”

He says a decentralised community must be inexpensive and accessible to everybody, which is what led him to construct Shardeum, an “Ethereum Virtual Machine (EVM)-compatible sharded blockchain that can achieve infinite scalability, true decentralisation, and solid security”.

The startup is trying to handle the 2 important issues of Layer 1 (L1) blockchains: restricted throughput and excessive fuel charges. 

According to the founders, Shardeum will democratise entry to decentralisation and, just like the Internet, the startup aims to be open, collaborative, and community-driven.

“My attempt at building Shardeum is that there are no L1 solutions today that can support a billion people. Everyone is trying to sell you alternatives, which are not decentralised,” Nischal mentioned. 

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