What is SDN

Shiden Network ($SDN): A Comprehensive Overview

Introduction

In an era where blockchain technology is continuously evolving, Shiden Network stands out as a dynamic platform that aims to facilitate the development of decentralised applications (dApps). Operating on the Kusama Network, which is known as the canary network for Polkadot, Shiden Network seeks to provide robust infrastructure equipped with innovative incentive mechanisms for developers and users alike. This article serves as a detailed analysis of the Shiden Network, exploring its goals, underlying mechanics, timeline, and more.

What is Shiden Network?

Shiden Network is fundamentally a decentralised application layer tailored for low-latency, multi-chain dApp development. It capitalises on the shared security and scalability offered by the Polkadot ecosystem, thus positioning itself as a viable solution for developers aiming to build a broad range of applications—from decentralised finance (DeFi) to non-fungible tokens (NFTs) and beyond.

One of its most distinguishing features is its compatibility with the Ethereum Virtual Machine (EVM) and WebAssembly (WASM). This dual compatibility enables developers to create versatile smart contracts and dApps, thereby attracting a wider audience of blockchain enthusiasts. Equipped with an innovative incentive system, the Shiden Network nurtures a community-driven approach to app creation and deployment, ultimately enriching the entire blockchain ecosystem.

Creator of Shiden Network

The origins of Shiden Network are closely intertwined with the Astar Network. However, specific information regarding the individual or group who conceptualised Shiden Network is not readily available. As a result, identifying the precise creator remains elusive. Nevertheless, the affiliation with Astar Network implies a collaborative effort powered by expertise and community support.

Investors of Shiden Network

Shiden Network has garnered significant interest, successfully raising approximately $34.45 million over various funding rounds. These rounds encompass a series of auctions, private sales, and crowdloans. Despite this substantial financial backing, the specific names of investors or investment firms supporting the network remain unreported. Nonetheless, the impressive funding amount underscores Shiden Network's potential and the confidence investors have in its vision and capabilities.

How Does Shiden Network Work?

Shiden Network's operational approach is distinguished by several innovative features that set it apart from other blockchain solutions:

Incentive System

At the core of Shiden’s functionality is its incentive-based model. The platform rewards developers who deploy their applications with 50% of the block rewards allocated to them. This attractive incentive structure encourages continuous development and enhances the overall quality of the ecosystem.

dApp Staking

Token holders within the Shiden ecosystem play a crucial role in shaping its future. They can stake their SDN tokens to back their favourite dApps, thereby directly contributing to their growth. In return for their participation, stakeholders earn rewards through block rewards, which fosters community involvement and enhances user engagement.

Lockdrop System

Shiden Network introduces the Lockdrop mechanism, allowing SDN token holders to engage with the network as node runners or validators. This structured approach ensures that the network remains secure while simultaneously enabling active participation from the community.

Smart Contract Support

Offering support for multiple programming languages, Shiden Network excels with its EVM and WASM compatibility. This robust feature allows developers to innovate freely while deploying a wide array of smart contracts tailored to meet various user needs. As a result, the platform serves as a multifunctional foundation for diverse blockchain applications.

Timeline of Shiden Network

Understanding the progression of Shiden Network helps provide context to its development and milestones. Below is a timeline highlighting significant events in the project’s history:

• August 30, 2021: Shiden Network successfully concludes its Token Generation Event (TGE), marking a pivotal moment in its journey.
• Crowdloan Campaigns: During the Kusama Parachain auctions, Shiden Network conducts crowdloan campaigns, allowing KSM token holders to stake their tokens in exchange for SDN rewards. This initiative not only exemplifies community involvement but also strengthens the network's foundation.

Key Features

Multi-Chain Support

Building on the Kusama Network's infrastructure, Shiden Network is inherently designed to support interactions and integrations across various blockchains. This multi-chain capability is crucial for fostering collaboration among different blockchain ecosystems.

EVM and WASM Compatibility

By natively supporting both EVM and WASM, Shiden Network provides developers with the flexibility to choose the programming environment that best suits their project's needs. This adaptability is expected to attract a diverse range of developers and projects.

Innovative Incentives

Shiden Network's unique incentive model for developers and token holders is a significant draw. By rewarding application deployment and participant staking, the network promotes sustained development and user engagement.

Layer 2 Solutions

From its inception, Shiden Network was designed with layer 2 solutions in mind. This forward-thinking approach aims to streamline transaction processes and enhance scalability—two essential aspects for successful dApp deployment.

Conclusion

Shiden Network emerges as a formidable player in the Web3 and cryptocurrency landscape, bringing forth innovative solutions for decentralised application development. Its robust architecture, unique incentive mechanisms, and supportive multi-chain environment contribute to its appeal as a dynamic platform for both developers and users. As the project continues to evolve, Shiden Network holds the potential to play a key role in the future of decentralised technologies, establishing itself as a pivotal force in the ever-growing blockchain ecosystem.