Shardeum’s Sphinx Betanet Version 1.1 Launches Verification Period and Pledge Test via GUI and CLI
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:
Shardeum, a blockchain technology developed by Nischal Shetty, co-founder, and CEO of WasirX, announced on February 16 the release of its Sphinx Betanet Version 1.1, a significant update that allows blockchain validators to run verification periods and pledge tests through GUI or CLI, without requiring any permission.
The recently developed version of Shardeum allows up to 239 social verifiers to run within the network in just an hour. Social verifiers, also known as token holders, play a vital role in Shardeum’s blockchain verification process. They are responsible for ensuring the network’s security by validating new transactions, creating new blocks, and maintaining the network’s consensus. In return, they are offered a proportional reward in the form of SHM tokens for their work.
The release of Shardeum’s Sphinx Betanet Version 1.1 is a massive step forward for the blockchain ecosystem. It allows for the more seamless and efficient operation of Shardeum networks. It introduces a further decentralized approach to its verification and pledge testing procedures, making the system more secure, stable, and resistant to centralization. It can ultimately increase the trust of the Shardeum network among investors and project leaders.
Nischal Shetty, the co-founder and CEO of WasirX, was responsible for developing Shardeum’s latest upgrade. Shetty is well known in the blockchain industry for his work as a cryptocurrency thought leader and developer. Shardeum’s Sphinx Betanet Version 1.1 is an example of Shetty’s innovation and growth of the blockchain sector.
To conclude, Shardeum’s Sphinx Betanet Version 1.1 launch is a significant development in the blockchain industry. Its updated features promote greater decentralization, enhancing the security, stability, and resistance of centralization to the network. It marks another significant step towards a more seamless and efficient operation of Shardeum’s blockchain network.
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