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

Shardeum, a blockchain business, raised $18.2 million in seed funding from strategic investors including CoinGecko Ventures, Wemade, and ZebPay.

Shardeum solves scalability and high transaction costs while preserving a high degree of decentralisation, something Shetty claimed was absent in the majority of current blockchains in a prior interview. According to the company, the cash received will be utilised to increase the size of the research and marketing teams as well as the product and design development team. The act of “sharding” is the division of a network into numerous segments (or “shards”) so that each segment can carry out transactions. The network speeds up as more computers join to create more shards.

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