WazirX CEO Nischal Shetty announces blockchain project Sharedum

WazirX founder and CEO, Nischal Shetty on Wednesday has announced the launch of his new blockchain project Sharedum to "solve for scalability, decentralization, and affordability of cryptocurrencies."

In a series of tweets, Shetty said that the project will be open-source, not owned by anyone which will invite the innovators to build upon the blockchain network.

He also added that he is building this open-source project with Omar Syed, a blockchain technologist, who has built scalable blockchain technologies in the US while working with other organizations.

Shetty's blockchain announcement comes at a time when the cryptocurrency investors in India have ballooned to more than 2 crore and the trading volumes have spiralled.

“We want to take an approach that’s not been tried by other blockchains until now. We want to be as open as possible when it comes to discussions, information, ideas, documents and just about anything," he tweeted.

He added that the duo will release the whitepaper on the project soon.

“We aim to follow a process we’ve created called OCCOpen: The idea is that we will be open about everything we do Collaborative: We will collaborate with everyone (EVM is example) Community DrivenFor us, Team = Community,” WazirX CEO added.

Meanwhile, the Google document shared by Shetty On Sharedum stated, "A mental model we’ll follow is that everyone in the world is a team member of Shardeum. Whether you’re in crypto or not, whether you’re a supporter or detractor, whether you’re a friend or foe, we want to ensure everyone has access to everything about Shardeum."