Shido Chain - Layer 1 EVM Blockchain
Shido Chain is a Layer 1 EVM Blockchain that has special attributes designed for high transaction speed, security and reliability. $SHIDO is the native currency on Shido Chain and the governance token in all our utilities. Shido Chain is under development and set to launch during first half of 2023.
Shido Chain is using Ethereum Virtual Machine software platform. The EVM grants developers the ability to easily create smart contracts and dApps on Shido Chain. Shido Chain is built using Solidity programming languange, which is also a strategic decision. Most blockchain developers are experienced in Solidity and it will also more easily drive the adotoption of Shido Chain. The cross-chain compatibility makes it easy to migrate dApps and Smart Contracts onto Shido Chain.
Shido Chain is using PoS, Proof-of-Stake, as consensus mechanism to confirm transactions and generate new blocks through validators. This ensures that Shido Chain maintain a high transaction speed and is more environmental friendly. Shido Chain is able to support fast block generations, around every 3 seconds. As a comparison to Ethereum Network that generate blocks every 12 seconds.
Our Proof-of-Stake consensus mechanism will give Shido some authority for security and reliability reasons of Shido Chain. Shido will have the ability, if chosen to exercise this right, of vetting validators for the delegators to vote upon. This means that Shido have the right to approve all validators that wants to participate in block creations. To make sure Shido Chain remains as decentralized as possible Shido is forced to vet a large number of validators giving the delegators many options. This Proof-of-Stake with Authority ensures that Shido in a much better way can ensure that Shido Chain will stay secure and reliable as a Blockchain. It will not make Shido Chain less decentralized as Shido is forced to choose a large number of validators, but it will secure the quality of the chain as a whole. Both in terms of security and transaction speed.
Shido is also building ShidoBridge that works with Shido Chain. Using Shido Bridge you are able to create and mint new tokens on Shido Chain. The newly minted tokens are pegged to the value of the original token. So users are able to migrate tokens to Shido Chain increasing the adoption rate. This is what is known in general as a wrapped token. You are able to use the bridge to unwrap the tokens again back to the chain of origin. We will not charge any fee for bridging tokens, it will be free besides the gas fee from the origin chain. We will always encourage adoption of Shido Chain.
Shido will start an incubation program for Shido Chain. There will be at least three significant Airdrops from 3 different projects on Shido Chain. For the first Dex, Launchpad and Oracle launched on Shido Chain we will airdrop their native tokens for the current holders of $SHIDO, product users and contributors. Details will be shared at a later stage, but it all starts right now. Snapshots of $SHIDO holders are being taken, even before more details regarding the incubation program are announced. If you are holding $SHIDO today you will be eligible for Airdrop.
Shido Chain have high transaction speed and low gas fees by design. It also has Cross-Chain Compatibility with Ethereum and Binance Smart Chain. As Shido Chain is EVM-Compatible it will be easy for Solidity developers to migrate dApps and Smart Contracts onto Shido Chain.
Shido Chain will have a high focus on DeFi, P2E Games and Metaverses.
Shido Chain is set to launch first half of 2023.