Shiden Network

Purpose and Utility

Shiden Network is a smart contract platform on the Kusama network, serving as the sister network to Astar (formerly Plasm Network). It functions as a layer-2 scaling solution that supports multiple virtual machines, including EVM and WebAssembly, enabling developers to build and deploy decentralized applications (dApps).

Business Model and Current Usage

The platform's core utility includes smart contract deployment, cross-chain interoperability, and dApp hosting. SDN tokens are used for governance, staking, and paying transaction fees on the network. The platform implements a unique 'dApp staking' mechanism where users can stake tokens to support developers, creating a sustainable ecosystem for dApp development.

Development Activity and Adoption

The project maintains active development, with regular updates and improvements to the network infrastructure. The development team consistently pushes updates through their GitHub repository, showing genuine effort in building and maintaining the platform. The network has attracted several dApp projects, particularly in the DeFi and NFT spaces.

Token Distribution and Founder Involvement

The token distribution appears relatively balanced, with mechanisms in place to support network development and community initiatives. The founding team maintains transparency in their operations and development processes. The project demonstrates a focus on technological development rather than pure marketing.

Technical Infrastructure

The platform's multi-virtual machine approach allows for diverse application development, supporting both EVM and WebAssembly smart contracts. This technical architecture provides real utility for developers and users within the Kusama ecosystem.