Blockchain startup Shardeum raised $18.2 million in seed from CoinGecko Ventures

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Blockchain startup, Shardeum raised $18.2 million in seed from Strategic investors like CoinGecko Ventures where Wemade, and ZebPay also participated.

Shardeum addresses scalability and high transaction costs while maintaining a high level of decentralisation, which Shetty stated in an earlier interview was lacking in most blockchains today. The funds raised, according to the company, will be used to expand the company’s research and marketing efforts, as well as its product and design development team. Sharding is the process of dividing a network into multiple pieces (shards) so that each shard can execute transactions. As new computers join the network to form more shards, the network becomes faster.

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Blockchain startup Shardeum raised $18.2 million in seed from CoinGecko Ventures

Blockchain startup, Shardeum raised $18.2 million in seed from Strategic investors like CoinGecko Ventures where Wemade, and ZebPay also participated.

Shardeum addresses scalability and high transaction costs while maintaining a high level of decentralisation, which Shetty stated in an earlier interview was lacking in most blockchains today. The funds raised, according to the company, will be used to expand the company’s research and marketing efforts, as well as its product and design development team. Sharding is the process of dividing a network into multiple pieces (shards) so that each shard can execute transactions. As new computers join the network to form more shards, the network becomes faster.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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