Shardeum’s Sphinx Betanet 1.1 Launches with High Social Verification Rate
On February 16, it was reported that the Layer1 blockchain Shardeum created by WasirX co-founder and CEO Nischal Shetty has launched Sphinx Betanet version 1.1…
On February 16, it was reported that the Layer1 blockchain Shardeum created by WasirX co-founder and CEO Nischal Shetty has launched Sphinx Betanet version 1.1, which allows SHM to run the verification period and pledge test through GUI or CLI without permission. There are 239 social verifiers running in the network within one hour.
Layer1 blockchain Shardem has launched Sphinx Betanet 1.1
Interpretation of the news:
The Shardeum blockchain has been making impressive strides in its development as it recently launched its Sphinx Betanet version 1.1. The blockchain, created by Nischal Shetty, the co-founder and CEO of WasirX, comes with a major upgrade that allows SHM to run the verification period and pledge test through GUI or CLI without permission.
This new development is a significant upgrade on the previous versions of Shardeum, as it allows for ease of use through the GUI interface and the convenience of the command line interface for advanced users. The upgrade widens the scope of users who can operate the system comfortably.
The Shardeum blockchain has not been left behind in the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) algorithms, which offer a more energy-efficient mining process. The Shardeum blockchain platform is operating on the PoS consensus algorithm, which draws from the social consensus of the user network. The network relies on social verifiers, who run nodes, to verify transactions.
The Shardeum network recorded 239 social verifiers running in the network within an hour of launching the Sphinx Betanet version 1.1. This high number of verifiers indicates the platform’s inherent trust in the network, as more nodes mean more decentralization and increased trustworthiness. In the long run, higher social verification rates will make the platform more secure, efficient, and reliable.
In summary, Shardeum’s Sphinx Betanet version 1.1 is a significant milestone for blockchain, as it allows for easier user access and provides advanced users with a more convenient command line interface. The high number of social verifiers within an hour of launch indicates high trust in the network, and the shift to PoS confirms the blockchain’s energy-efficient and more secure mining process. The Shardeum blockchain is a promising platform worth keeping an eye on in the future.
In conclusion, the Shardeum blockchain is a robust and secure network worth watching, as it continues to make remarkable strides in the blockchain industry. The platform is taking advantage of the latest trends in blockchain technology while providing a user-friendly experience.
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