Last Updated: 02/07/2022
Official Website: https://shiden.astar.network/
The Shiden Network essentially operates in a space created because of the vacancy of smart contract functionality left in the Kusama Relaychain. Shiden is a smart contract platform for dApps on the Kusama Network, as by design, Kusama Relaychain does not support smart contract functionality. Although the Shiden Network supports various applications such as DeFi and NFTs, it’s main objective is to support Layer 2 solutions, which involves the enhancement of scalability and transaction speed for frameworks built on top of existing blockchains. Shiden currently functions as a parachain on the Kusama Network, with this parachain being linked to Kusama’s Relay Chain, the main blockchain and heart of the network.
This platform is Multi Chain and is currently building bridges to various blockchains including Ethereum, Secret Network, Cosmos and so on. The project also provides the opportunity for developers to earn a basic income, with SDN token holders being able to stake their tokens with their favourite dApps so that both nominators and the dApps developers can earn SDN tokens. The Shiden Network operates with Multi Virtual Machines, natively supporting both Ethereum Virtual Machine and Web Assembly.
The Shiden Network is the sister network of Astar (formerly Plasm Network), with Astar being another parachain. Both of these cryptocurrencies operate under a wider establishment, Stake Technologies and considering this, explains why the two share a similar codebase and mimic the same core technology as eachother. Astar operates similarly to Shiden, in that it too fills the gap left through the design of a network for no smart contract functionality, but instead of operating on the Kusama Network, it takes full advantage of the similar design vacancy left in Polkadot’s ecosystem. The Astar Network is an infrastructure recently rebranded that is scalable and interoperable for Web3.0.
Sota Watanbe is the Founder of the Shiden and Astar Networks, current CEO at Stake Technologies and a project manager of the Networks, all of which heavily involves him in the blockchain industry. Sota has a variety of attributes differing from Engineering and Backend skills to Front-end Development and Project Execution that enable him to successfully operate in the Crypto Space.
One wallet that can provide services for Shiden Network is the Browser Extension wallet, Metamask, however this will require a new RPC setting to receive Shiden to. In order to establish a new RPC setting for Shiden, you will be required to enter a series of inputs including the Network, RPC, Chain ID, Symbol and Explorer, which once completed will create a wallet for Shiden. Metamask is a popular dedicated Ethereum wallet providing compatibility for operating systems such as Brave, IOS, Android, Chrome and Edge.
MathWallet is an alternative wallet provider that does support the Sending, Storing and Exchanging of Shiden Network. This wallet is accessible through iPhone, Android and Chrome Browser and can also offer a hardware styled wallet. It’s investors include Fenbushi and FundamentalLabs and it’s main objective is to serve as a Multichain Wallet for Web3.
You can Buy & Sell Shiden Network (SDN) here at BC Bitcoin. You can Buy SDN by heading over to the Buy Coins page of our website. SDN is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying SDN has never been easier, simply place your order and provide your wallet address. Once your payment arrives, SDN will be sent directly to your wallet.
If you choose to Sell Shiden Network (SDN), you can send us the coins and receive a payment directly to your bank account. Details and a live valuation can be found on the Sell Coins page.
Astar & Shiden Documentation: https://docs.astar.network/
Block Explorer: https://shiden.subscan.io/
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.