Blockchain Shardeum opens network for all user at low transaction costs

Layer 1 blockchain Shardeum has announced the opening of its network, Mainnet, for all users and aims to offer use cases for growing industries such as payments, remittances and retail, according to a statement. Shardeum aims to drive the next wave of future blockchain innovation by eliminating technical barriers and offering predictable, low fees, the statement said.

The Shardeum network will be useful for developers from emerging markets such as India, as it is completely decentralised and fully scalable with a transaction cost as low as USD 0.01 or less than Re. 1, thereby making it as affordable as UPI, the blockchain said.

The network aims to offer multiple future use cases, especially for growing industries such as payments, remittances, retail, gaming, healthcare, e-commerce, micro-payments, among others.


"We've built Shardeum with the conviction that the future of Web3 must be open, inclusive, and truly scalable," said Srini Parthasarathy, Chief Technology Officer, Shardeum.

During its test phases (testnet), Shardeum attracted over 1.4 million global participants and over 171,000 physically run validator nodes, it claimed. A Layer 1 blockchain is the main network responsible for executing transactions, validating data, and maintaining consensus.