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About Shard
- Current supply: 77,160,176.76
- Circulating supply: 17,100,000
- Last known price: 0.10392809 USD
- Price change: +11.45% in 24 hours
- Trading volume: $22,786.48 in 24 hours
What is Shard?
- Shard is a dual concept: a technique to enhance network efficiency and a proof-of-stake cryptocurrency
- Shard is a method of dividing blockchain networks into smaller, manageable partitions (shards) for parallel processing and
About Shard: Empowering a New Era of Blockchain Innovation
Shard (SHARD) is a cryptocurrency boasting a current supply of 77,160,176.76, with 17,100,000 units currently in circulation. As of the last recorded price, Shard is valued at 0.10392809 USD, having appreciated by 11.45% over the past 24 hours. Presently, it is actively traded on 2 markets, with a 24-hour trading volume of $22,786.48. For further information, please visit
https://shardcoin.io/
.
Unveiling Shard: A Comprehensive Overview
Shard embodies a dual concept within the cryptocurrency and blockchain realm. Fundamentally, it is a technique employed in blockchain technology to bolster network efficiency. This method entails dividing the blockchain network into smaller, manageable partitions, dubbed shards. Each shard operates autonomously, processing its distinct set of transactions and smart contracts. This partitioning enables parallel processing, thereby significantly augmenting the network’s scalability and transaction velocity. By distributing the workload across multiple shards, the network can accommodate a greater volume of transactions per second, rendering it more efficient and scalable.
Furthermore, Shard also denotes a proof-of-stake cryptocurrency, designed to facilitate access to the cryptocurrency market for a broader audience. This digital currency operates on a proof-of-stake mechanism, a more energy-efficient approach to securing the network and validating transactions, in contrast to the proof-of-work model employed by certain other cryptocurrencies. By staking their coins, holders of Shard can participate in the network, involving the locking up of a specific amount of their holdings to support network operations, in exchange for rewards.
Shard (SHARD) boasts a circulating supply of 17,100,000 coins, which represents a fraction of its total supply of 77,160,176.76. The coin’s active trading in the market underscores its growing adoption and utility within the cryptocurrency ecosystem.
For those intrigued by the prospect of exploring or investing in cryptocurrencies such as Shard, meticulous research is paramount. The cryptocurrency market is notorious for its erratic fluctuations, presenting both promising opportunities and inherent risks. To make informed investment decisions, it is essential to delve into the underlying technology, assess the market standing, and evaluate the potential for future growth of a particular cryptocurrency.
Shard’s Security Framework: A Robust Defense Mechanism
Shard’s security framework is a multifaceted bulwark, combining cutting-edge technologies with time-tested cryptographic methods to ensure the integrity of its network and safeguard its users. At the heart of its robust security measures lies the seamless integration with hardware wallets, renowned for providing an unparalleled level of security for cryptocurrency assets. These devices securely store users’ private keys in a fortified hardware environment, rendering it exceedingly difficult for unauthorized parties to access the funds.
Beyond hardware wallet integration, Shard harnesses the robust security frameworks of decentralized networks, such as Bitcoin and Ethereum. These networks are distinguished by their stringent security protocols, which encompass advanced cryptographic algorithms and decentralized consensus mechanisms, thereby guaranteeing the integrity and immutability of transactions.
Shard leverages cutting-edge technologies, including multi-signature wallets, smart contracts, time locks, and Multi-Party Computation (MPC), to fortify its infrastructure. The implementation of multi-signature wallets necessitates the collaboration of multiple parties to authorize transactions, thereby introducing an additional layer of security. Smart contracts, meanwhile, automate and enforce the terms of an agreement, effectively mitigating the risk of fraud. Furthermore, time locks impose temporal constraints on transactions, while MPC enables the computation of functions while maintaining the confidentiality of input data, thereby bolstering both privacy and security.
In addition to its robust security infrastructure, Shard’s end-to-end encryption serves as a vital safeguard, guaranteeing that all network communications remain encrypted from sender to receiver, thereby thwarting eavesdropping and tampering attempts.
Moreover, Shard implements a rigorous Proof of Stake (PoS) mechanism, incorporating punitive measures to deter malicious activities, thereby fostering a culture of good behavior and safeguarding the network against potential threats.
The Mixin Kernel node, which necessitates a stake of 12,000 XIN, leverages Trusted Execution Environment (TEE) technology to ensure a secure and isolated environment. By providing a protected area within the main processor, TEE guarantees the confidentiality and integrity of the code and data loaded within, safeguarding against potential breaches.
Shard’s multifaceted approach to security, which synergistically combines hardware wallet support, leverages the robust security of established blockchain networks, and harnesses advanced cryptographic technologies, thereby ensuring a secure and resilient ecosystem for its users.
What Role Will Shard Play?
Shard is poised to revolutionize the blockchain landscape by significantly enhancing the functionality and efficiency of blockchain networks. At the forefront of its application lies the development and implementation of pivotal components for the Danksharding specification, a groundbreaking solution designed to tackle the scalability hurdles plaguing blockchain networks. This specification is instrumental for networks seeking to dramatically increase transaction throughput while maintaining the delicate balance between security and decentralization.
Beyond its pivotal role in Danksharding, Shard’s utility extends to the creation of private sidechains, which are indispensable for projects necessitating a heightened level of privacy and security that surpasses what the main blockchain can provide. By facilitating the creation of these sidechains, Shard empowers a more adaptable and customizable blockchain ecosystem, tailored to cater to the specific requirements of diverse projects.
Furthermore, Shard plays a pivotal role in the staking mechanisms that underpin the Citadel ecosystem. Validators, tasked with verifying transactions and ensuring the network’s integrity, leverage Shard to participate in the staking process, thereby securing the network while earning rewards for their participation.
The utility of Shard transcends these specific applications, as it is also being leveraged as a panacea for scalability bottlenecks across multiple prominent blockchain networks, including, but not limited to, Ethereum, Cardano, and Zilliqa. By effectively addressing these scalability challenges, Shard significantly enhances the overall performance and efficiency of these networks, thereby rendering them more accessible and user-friendly for a broader audience.
As with any cryptocurrency or blockchain technology, it is imperative that individuals undertake exhaustive research and carefully weigh the risks before engaging with or investing in Shard. The inherently volatile nature of the crypto market, coupled with the rapidly evolving landscape of blockchain technology, demands a prudent and informed approach to participation.
What pivotal milestones have marked Shard’s journey?
Shard has navigated a series of pivotal milestones that have significantly contributed to its growth and integration within the expansive cryptocurrency and blockchain ecosystem. Notably, the creation of Ethereum stands out as a seminal event that, although not directly related to Shard, has had a profound impact on the entire blockchain community. This pivotal moment was precipitated by a personal experience of Ethereum’s co-founder, Vitalik Buterin, with the game World of Warcraft, which inspired him to conceptualize a more open and programmable blockchain platform.
Notably, the blockchain space has witnessed a significant advancement with the introduction of the Ethereum Name Service (ENS), which has far-reaching implications for projects like Shard. This innovative service enables the use of human-readable addresses on the blockchain, thereby elevating the user experience and accessibility of blockchain technologies. Although not exclusive to Shard, the widespread adoption and implementation of ENS across the Ethereum ecosystem underscore the relentless efforts to render blockchain more user-friendly and accessible, ultimately benefiting all projects built on or interacting with the Ethereum blockchain.
Notably, the Shapella upgrade, successfully implemented on April 12, 2023, constitutes a substantial milestone in the evolution of the Ethereum network, with far-reaching implications for all ERC-20 tokens and projects, including Shard. This pivotal upgrade heralds a significant leap forward in terms of scalability and efficiency for the Ethereum network, yielding benefits such as diminished transaction fees and accelerated transaction speeds, which could have a profoundly positive impact on Shard’s performance and utility.
It is crucial for prospective investors in cryptocurrencies, including Shard, to undertake exhaustive research and consider the broader ecosystem developments, as these can profoundly impact individual projects. The blockchain and cryptocurrency landscape is undergoing rapid transformation, with novel technologies and upgrades continually reshaping the future of digital assets and their applications.