In today’s episode of The Analytics Insight Podcast, host Priya Dialani speaks to Chris Chabot, Vice President of Developer Relations at Shardeum, a blockchain platform aimed at improving scalability and transaction speed. The engaging discussion dives deep into the ever-evolving world of decentralized finance (DeFi) and Web3 technologies.
Chris explains how Shardeum is transforming the DeFi landscape by tackling two major challenges that blockchain technology has faced for years: speed and cost. While traditional blockchain systems like Ethereum provide robust smart contract capabilities and decentralized applications (dApps), they often face scalability issues, resulting in slower transaction times and higher fees.
Shardeum, on the other hand, utilizes sharding—a technique that involves splitting the blockchain into smaller, more manageable segments—to facilitate faster, cheaper, and more efficient transactions, even for everyday purchases.
Chris emphasizes how this technology allows businesses to integrate decentralized finance into their operations without the hassles of long waiting times or high costs. “Imagine trying to buy a loaf of bread with crypto and having to wait 10 to 15 minutes for the transaction to be processed—that’s just not practical,” he says.