Shardeum Blockchain Development
Shardeum is a linearly scalable smart contract platform based on the EVM, offering permanently low gas fees while ensuring true decentralization and strong security through dynamic state sharding.
Boosty Labs is the largest blockchain development outsourcing company in Europe. Our world-class fintech and cloud engineering team has a solid background of practice that combines consulting, strategy, design and engineering at scale. Our professionals can help with Shardeum development and consulting services.
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Use Cases
The platform is built with advanced architecture that guarantees quick finality and high throughput, scaling in tandem with network growth. This structure enhances the efficiency of peer-to-peer (P2P) transfers and digital asset transactions while keeping transaction costs low.
Developers can utilize a variety of programming languages to create decentralized applications (DApps) through the Ethereum Virtual Machine (EVM), providing a flexible and user-friendly development setting.
Decentralized Finance (DeFi) encompasses peer-to-peer financial services. The platform aids in developing DeFi protocols for lending, borrowing, and trading, thereby ensuring transparency, accessibility, and fairness across its network.
Non-Fungible Tokens (NFTs) denote ownership of distinct digital assets. The initiative is set to introduce its own NFT framework, enabling users to mint, purchase, sell, or trade these tokens. Additionally, it aims to create a bridge for transferring NFTs across multiple blockchains.
Web 3.0 indicates the next evolution of the internet, operating on open, trustless, and permissionless networks. This platform is well-prepared for developing applications and services that deliver an integrated, interoperable, and automated experience in the Web 3.0 domain through smart contracts.
Key Benefits
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Scalability Solution
This EVM-compatible blockchain is specifically designed to address the scalability, security, and decentralization challenges encountered by modern Web3 startups.
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Parallel Transaction Processing
By employing sharding techniques, the network is divided into segments, enabling the concurrent processing of multiple transactions.
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Reduced Network Operation Costs
Through the implementation of Proof-of-Stake and Proof-of-Quorum consensus mechanisms, the platform effectively reduces operational costs. It consists of three types of nodes: validators, archivers, and backup nodes.
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Stable Gas Fees
The system strives to achieve the capability of processing over 100,000 transactions per second with 100,000 nodes, achieving latencies of up to 10 seconds. This capacity will provide enhanced flexibility for Ethereum developers transitioning to this ecosystem while ensuring stable gas fees, which are currently elevated on the Ethereum network.
The development team is committed to minimizing gas fees while ensuring both security and decentralization through sharding, which enables the simultaneous processing, verification, and confirmation of multiple transactions.
The objective is to attract over a billion users, drawing comparisons to the revolutionary impacts of the Internet. This blockchain is designed to be open, collaborative, and community-oriented, promoting decentralization through sharding—distributing data across various computing nodes and partitioning large datasets into smaller “shards.”
The project emphasizes transaction volume and fee structures, targeting a transaction fee of approximately $0.01. As the network expands and draws in more users, this fee is anticipated to stay stable by increasing the number of nodes; as more nodes are added, transaction speeds will improve, alleviating congestion and keeping costs low.
Built on the Ethereum Virtual Machine (EVM), this blockchain facilitates the seamless migration of applications from the Ethereum ecosystem, creating further opportunities for developers.
The blockchain will implement a mix of Proof of Stake and Proof of Quorum as its consensus methods. Additionally, it will introduce its own token, SHARD (SHM), to streamline transactions, incentivize validators, and support the growth of decentralized applications (DApps).
As such, this blockchain acts as a linearly scalable smart contract platform that offers low gas fees while ensuring genuine decentralization. Each node can process one transaction per second, allowing 10,000 nodes to collectively manage 10,000 transactions at once. During peak periods, random nodes from a whitelist can join the network to aid in transaction processing, effectively managing heightened demand. This technology stands out as unique, flexible, and currently unrivaled.
There are three types of nodes: active validators, whitelisted validators (who await their turn during busy times), and archive nodes (which preserve the complete history of the blockchain).
The procedure is simple. First, evaluate the system requirements for launching a node and find a reliable hosting provider to rent the necessary equipment. According to the technical specifications, a node requires at least a 4-core processor, 8 GB of RAM, and a 250 GB SSD. Alternatively, you can choose a less resource-intensive server to serve as a whitelisted validator or maintain an archive node. The decision is yours, but active validators will earn the highest rewards for their contributions to the network.
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