🚀 Crypto Shardeum Launches Stage 1 of Incentivized Testnet as a Call to Action for Community Engagement

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[PRESS RELEASE – New York, United States, June 25th, 2024]

Shardeum’s Global Community Tests the Limits of Next-Gen Blockchain Tech

Shardeum, the autoscaling layer-1 blockchain, announces the launch of Stage 1 of its incentivized testnet, Atomium, slated to commence on June 26th, 2024. The purpose of Atomium is to incentivize users to test the network for bugs, vulnerabilities and performance issues in order to fortify the network ahead of mainnet launch.

In Stage 1, Shardeum invites community members to test numerous P2P transactions, allowing the Shardeum team to stress test the network and ensure all vulnerabilities and insecurities are flagged and amended. This also allows Shardeum to monitor how their nodes operate under pressure.

Atomium participants are incentivized to engage in the testing process with 0.65% of token supply or approximately 3.3 million SHM allocated towards community contributions. The announcement represents the second phase of the Shardeum native token Shard (SHM) Airdrop, and follows the successful completion of Phase 1 which was focused on early contributors.

“We believe in community-led development and thanks to our amazing community we’ve been able to reach this stage. We’re now ready to launch Stage 1 of the incentivized testnet,” said Nischal Shetty, Co-Founder & President of Shardeum. “Shardeum enters a crucial phase where we stress test the network to challenge its limits and strengthen it for the future with the help of our community.”

The campaign will unfold in multiple stages. With the completion of Stage 1, Shardeum will then assess and enhance the network’s stability and proceed to subsequent stages. Following stages will include more rigorous testing of system capabilities to ensure the network can handle a wide array of activities seamlessly.

As Shardeum focuses on the above functionalities during the incentivized testnet, EVM capabilities will be disabled, allowing for more seamless and focused refinement of the protocol. In addition, Shardeum will be launching a bug bounty program on July 5th with a total bounty of USD $700k. This initiative aims to further secure the network by encouraging developers and security experts to identify and report any vulnerabilities.

“This is not just a testnet launch. It’s an invitation for the community to be at the forefront of Shardeum’s growth,” added Omar Syed, co-founder of Shardeum. “Community contributions are invaluable as we work towards creating a robust and resilient L1 that will provide the foundation for all our future endeavors.”

To join the Shardeum incentivized testnet and contribute to the protocol’s future, users can visit https://shardeum.org/incentivized-testnet/ for more information.

About Shardeum​

Shardeum is an autoscaling EVM-based layer-1 blockchain. Dynamic state sharding helps keep gas fees low and TPS high as participation grows. Shardeum performs consensus at the transaction level and lowers the computational power needed for validator nodes. This consensus mechanism makes it possible for anyone to run a node while increasing decentralization.

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