Nischal Shetty, Founder and CEO at WazirX, and Omar Syed, Co-founder of Unblocked and Blockchain Architect at Shardus, announced a new project Shardeum, an Ethereum Virtual Machine (EVM)-compatible sharded blockchain, which claims infinite scalability, true decentralisation, and solid security.
Shardeum aims to solve the biggest issues faced by Layer 1 (L1) blockchains — low throughput and high fees. It will be open, collaborative, and community-driven, and would democratise accessibility to decentralisation, the founders revealed.
Nischal Shetty, Founder of Shardeum, said, “Blockchain scalability is one of the biggest barriers to crypto adoption. Existing infrastructure is slow and expensive. With Shardeum, our goal is to provide the world with a sharded, infinitely scalable blockchain while ensuring true decentralisation.”
Read more to find out the workings of Shardeum.
Click here for YourStory’s complete coverage of Union Budget 2022.
The Interview
Can you build a really big company? Are there enough people in your target market who face the same problem your startup aims to solve? Sequoia India’s Aakash Kapoor talks about the basics of assessing a market size.
Editor’s Pick: 100X Entrepreneur Podcast
India has about 700 agritech startups seeking to solve problems in the agricultural sector, operating in a market that is predicted to be worth $24 billion by 2025, according to a study by EY in 2020.
Gurugram-based Bijak is one of them. In this week’s 100X Entrepreneur Podcast, Nukul Upadhye, Co-founder of Bijak, talks about how enabling existing players in the supply chain sector, by using technology, has helped the startup thrive. Read more.
Startup Spotlight
Making connected autonomous driving tech affordable
Founded in 2015, Bhopal-based startup Swaayatt Robots aims to make connected autonomous driving technology accessible, affordable, and available to everyone.
It has already raised $3 million from investors in the US, and is looking to secure another $9.5 million to scale its existing technology. Read more.
News & Updates
- Conversational messaging tech unicorn Gupshup has acquired Knowlarity, a cloud communications startup for an undisclosed amount.
- GST (goods and service tax) collection broke all records in January, reaching Rs 1.4 lakh crore, the highest amount reported since its imposition. This has been possible due to the rapid economic recovery after the second COVID-19 wave and various policy decisions, say experts reflecting on Budget 2022.
- Players in the Indian Unmanned Aerial Vehicle (UAV) sector believe that measures taken for the drone segment in the Union Budget 2022 will encourage the adoption of the technology.
- New York-headquartered travel experiences marketplace Headout has raised an additional $30 million as part of its extended Series B round led by returning investor Glade Brook Capital Partners.
- Announcing her fourth Union Budget, Finance Minister Nirmala Sitharaman said that programmes with an outlay of Rs 6,000 crore would be rolled out in the next five years to accelerate MSME performance. While all these initiatives aim to bolster MSMEs, stakeholders of the ecosystem see them as “incomplete” and are hankering for more.
Before you go, stay inspired with…
“Just the way billions of people were onboarded onto the internet in the last decade, billions of users will be onboarded onto Web 3.0 in the next few years.”
— Aakash Kapoor, VP, Sequoia India
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