Building a Better Blockchain: How Shardeum Improves Upon Traditional Models

Are you looking to build a better blockchain? Don’t think too much, leverage Shardeum technology.

Shardeum is revolutionizing traditional blockchain models with its amazing features. Shardeum offers industry-leading features such as near-instant transaction speeds and scalability that traditional models do not provide. In this blog, we’ll go through deeply to understand how Shardeum improves upon traditional models and the best company that can help you with Shardeum node deployment and management.

What is Blockchain Technology?

Blockchain technology follows an advanced database algorithm that allows users to share digital assets and information in a transparent & secure way. All the data that is stored in the blockchain database is connected together in a chain. Without the consensus of the network, users don’t have the ability to trash or modify the chain. Hence, the data is chronologically consistent.

In conclusion, you can leverage blockchain systems to create a well-established ledger for different industries and use cases, including supply chain management, tracking orders, payments, and so on.

What are Traditional Blockchain Models and their Disadvantages?

Traditional blockchain models refer to the original blockchain technology developed for Bitcoin. Mining is essential for these models, as they completely rely on proof of work consensus algorithms. In traditional blockchains, miners have to solve complex puzzles to trade their digital assets and authenticate transactions. However, this process is tricky and results in high energy consumption, limited transaction speed, and scalability issues.

The basic disadvantages of traditional blockchain models include slow speed and performance, high implementation costs, and security issues.

What is Meant by Shardeum and How Does it Work?

Shardeum is working on the top layer of the Ethereum Virtual Machine (EVM). The main goal of Sharedum is to provide unlimited scalability, high security, and web decentralization. Unlike traditional blockchains, Shardeum doesn't require any central authority to control your trades. It uses Ethereum blockchain technology to create a secure and relevant platform to perform transactions.

A number of Ethereum features, including smart contracts, can also be found in Ethereum blockchain technology.

Here’s how Shardeum works:

Nodes

Each node in the network is responsible for one or more shards. The main function of nodes is to validate transactions within their assigned shard, and communicate with other nodes to ensure that the blockchain is consistent across all shards.

Data partitioning

A blockchain consists of smaller shards, each containing a subset of transactions. The size and number of shards can be determined dynamically based on network activity.

Cross-shard communication

It is necessary to communicate across shards when a transaction spans several shards. In Shardeum, this is achieved through a cross-shard communication protocol that allows transactions to be processed in parallel across multiple shards.

Security and consensus

Sharding introduces additional challenges to maintaining security and consensus. Shardeum uses a proof-of-stake consensus algorithm to ensure that validators are incentivized to act honestly, and a cross-shard atomic commitment protocol to ensure that transactions are executed correctly across all shards.

Benefits of using Shardeum for blockchain network hosting

Shardeum is super beneficial for blockchain network hosting. Here are five benefits you can check out:

1. EVM based L1 network

Are you looking to host a smart contract easily and in minutes? Sharding with Solidity and Vyper is the perfect solution for both new and experienced developers, allowing you to build dApps in a few minutes. Also, if you want to launch your Shardeum node in minutes.

2. High scalability & low gas fees

The sharder uses cross-chain storage technology to store the data in multiple chains and multiple nodes to speed up the TPS (transactions per second). By utilizing multiple technologies, the main goal of sharder is to provide high scalability and low gas fees forever.

3. Next level security

Do you know about PoQ (Proof of Quorum)? PoQ is completely different from other consensus algorithms. The PoQ utilizes the nodes to process the transactions individually in a secure way. To provide more security to the network, it additionally includes node rotation, standby nodes, and PoS with slashing.

4. Autoscaling the system

As you know, the sharder has the capacity to scale gradually. And on the other hand, it introduces a new technology to the system that's called autoscaling. Autoscaling feature enables the network to increase or decrease its throughput according to the demand of the network.

5. Dynamic state sharding

Dynamic state sharding is an advanced blockchain scaling technique that involves partitioning the blockchain network into smaller, more manageable segments called "shards." This approach aims to improve the performance, throughput, and overall efficiency of a blockchain network by distributing the workload among multiple shards.

6. No Middleman

Shardeum works on a P2P (peer-to-peer) network, which means that users can trade Shardeum directly without the need for intermediaries such as banks. All transactions are recorded on the Shardeum blockchain, which is a decentralized ledger that is maintained by a network of users. The blockchain ensures that all transactions are transparent and secure.

Use cases for Shardeum in various industries

Decentralized Finance (DeFi)

Scalability is the biggest issue in decentralized finance (DeFi). So, to overcome this, Shardeum provides the platform for both businesses and individuals to scale the DeFi framework.

Gaming and Virtual Worlds

It supports complex virtual worlds and games by allowing multiple shards to manage different aspects of the game, such as assets, player interactions, and transactions.

Peer to peer (P2P)

Shardeum's cutting-edge architecture guarantees users that their transactions will be finalized instantly, and its throughput capacity can be scaled up effortlessly as the network grows. This empowers users to seamlessly exchange digital assets at a low cost.

NFT

NFT provides evidence of digital ownership over unique assets. These tokens can be produced, bought, sold, and swapped. Shardeum is looking to introduce its own NFTs soon, creating an inter-blockchain bridge for transferring such valuable assets.

Web3

Shardeum is revolutionizing the move to Web 3.0 by providing a platform that unlocks the power of decentralized UI and UX for all.

Final Note

Are you ready to take your blockchain journey to the next level? If your answer is "YES", look no further than Shardeum! It provides cutting-edge technology with endless possibilities. The blockchain deployment company makes it easy for you to get started with Shardeum.

Another benefit is that you will get the support of experts who will help you achieve better ROI and many more. They will provide you with full support on how you can get started with Shardeum.