Introducing Shiden Network - Multi Chain dApps Hub on Kusama
Published date: May 19 2021
1. What is Shiden?
Shiden Network is a canary network that acts as an R&D chain of Plasm Network. PLM token holders can claim SDN tokens, the native token of Shiden Network, at a 1:1 ratio. Shiden Network will act as a multi-chain decentralized application layer on Kusama Network.
Kusama Relaychain does not support smart contract functionality by design - Kusama Network needs a smart contract layer. This is where Shiden Network comes in. Shiden supports Ethereum Virtual Machine, WebAssembly, and Layer2 solutions from day one. The platform supports various applications like DeFi, NFTs and more.
2.What Makes Shiden Unique?
Some core features of Shiden that make it unique:
Also, Shiden Network will have all features that Plasm have such as:
Furthermore, because Shiden Network is a R&D chain, new technologies and features that Plasm team develop will be applied on Shiden first for performance testing. After a new feature becomes stable and fits Polkadot vision then that technology will be added to Plasm Network.
Shiden’s development team will also build bridges to various blockchain like Ethereum, Secret Network, Cosmos and so on.
4. Basic Income for Developers
SDN token holders can stake their tokens on favorite dApps so that both nominators and the dApps developer can earn SDN tokens.
5. Multi Virtual Machine
Shiden natively supports both EVM and WASM. Ethereum compatibility is just a day1 for Kusama Parachains.
6. Plasm & Shiden Backers:
Plasm and Shiden is backed by many big funds and investors that aims to increase the value and use-case of cryptocurrency into real worlds such as: Binance Labs, Hypersphere, AU21 Capital,....
Also, Shiden networks got supports of many popular programs like Web3 Foundation Grants Program, Microsoft for Startups,...
Shiden Network is a completely community-driven multi virtual machine dApps hub on Kusama. Shiden will act as a R&D chain for Plasm Network. Their main goal is to become one of the first parachains that acts as a dApps hub on Kusama!
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See Shiden Network on DotMarketCap: https://dotmarketcap.com/coin/shiden-network