Founder of cryptocurrency exchange WazirX Nischal Shetty, new crypto project Shardeumraised $18 million in funding for
It will provide a scalable network service Shardeum, with a valuation of $199 million from a fund round 18 million got dollars. The new project was created in partnership with Nischal Shetty, founder of the WazirX exchange, and Omar Syed, a blockchain architect. The platform started working to get funding last August.
Full Support to Shardeum Project
Launched as an innovative project, Shardeum will produce dynamic works within the scope of efficiency gains. The platform will use sharding technology for this structure. Sharding, which increases block areas for more transaction opportunities and provides lower gas fee services, will form the infrastructure of Shardeum.
Founder of the project Shetty, said:
Blockchain issues were a difficult problem to solve. Scalability is the most important factor hindering wider crypto adoption, especially in emerging markets like India.
Arguing that scalability has an important place in this developing technology, Shettystated that he trusts the project he will develop. Shetty said that the Web3 ecosystem continues to grow day by day. Also, according to Shetty, in the near future 1 billion person will adopt Web3 technology. Its center, India, has the population suitable for this target.
The new funds raised will be used to accelerate the project’s marketing efforts and grow the development team. The team is based in India and the US to attract developers to the ecosystem. hackathonwill host.
