Synopsis
Not many are convinced about Shardeum’s claims about achieving scalability and decentralisation, especially since the whitepaper detailing technical aspects hasn’t been released even a year after the project launch. But its investors are confident as the company has demonstrated an increase in network speed with the addition of each shard.
When cryptocurrency exchange WazirX’s co-founder Nischal Shetty announced his Web3 project a year ago, it was greeted with skepticism and enthusiasm — in equal parts. Within eight months of its launch, Shardeum secured a funding of USD18.2 million in October 2022 amid a crypto winter at a valuation of USD200 million. This is significant since venture capital investments in India’s Web3 startups have seen a steady decline since May 2022. Only
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