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Mar 31, 2022 17:00 JST
What You Need to Know about Shiden (SDN) in 2022
SINGAPORE, Mar 31, 2022 - (ACN Newswire) - 2021 was a huge year for the cryptocurrency market, with huge strides in growth and adoption of digital assets, NFTs, and blockchain worldwide. It was also an incredible year for Moonstake as we rose to the top rankings of global staking providers, reaching a total staking assets of $1.8 billion thanks to the support of our users and partners worldwide. As we begin the new year 2022, Moonstake as well as our strategic coin partners have many exciting news and programs in store for you as our platforms scale and evolve. To welcome our user community into the exciting new year, we're creating a series of articles on what you need to know about our partner coins in the year 2022, this time with Shiden.
Shiden is the latest supported coin by Moonstake via strategic partnership with Astar Network, the sister network whose code base is used to build Shiden. Since November 2021, we support both native staking of SDN with Moonstake staking pool as well as staking with the Shiden DApp store with 25+ innovative applications, bringing users a robust variety of opportunities for global crypto users to earn with Shiden Network with the best user experience. Moonstake is proud to be amongst the world's first group of validators for Shiden Network.
Shiden Network was launched in August 2021 as a sister network to Astar Network, functioning as a smart contract layer to enable advanced blockchain applications like DeFi, NFTs and more. Since launch, Shiden has been hosting a Builders Program with Astar to incentivize teams to develop great applications on the network. The team also organized an Ambassador Program to promote awareness and adoption of the network, as well as launching the Shiden DApp Store which currently has 25+ staking DApps listed, including Moonstake.
In 2022, Shiden as the canary network of Astar will be focusing on developing and expanding its ecosystem in the fields of cross-chain token swapping, DApp staking, EVM tooling, and general network functionality, governance, and performance. On top of this, the network is also looking to incubate and promote the development of breakthrough applications and NFT projects, especially through its Astar & Shiden Builders Grant Program.
Moonstake is proud to be strategic partners of Shideen Network. We will continue to maintain strong support for the ever growing and developing Shiden ecosystem and hope to bring even more great value to SDN and crypto users worldwide in 2022 to help accelerate adoption of the Shiden and Moonstake ecosystems together.
As a world-leading staking service provider, Moonstake develops and operates decentralized wallet services for enterprises and end users.
Our full-scale staking business started in August 2020. With the support of users all over the world, our total staking assets has risen to 1.8 billion dollars. In June 2021, we ranked third among 15,000 staking providers globally.
So far, we have expanded our business and ecosystem through about 30 strategic partnerships, including major blockchains such as Emurgo which is a constituent organization of Cardano, TRON, and NEO. In May 2021, we became a wholly owned subsidiary of the listed company "OIO Holdings Limited" on the Singapore Stock Exchange and we are working to further expand Moonstake's business and improve our credibility.
Building the premier multi-chain smart contract platform on Kusama Network. Shiden Network is 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.
Astar Network is a dApps hub on Polkadot that supports Ethereum and layer 2 solutions like ZK Rollups. Plasm aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines like EVM and WASM.
Sectors: Crypto, Exchange
Copyright ©2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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