Shiden Network Price Chart Update [SDN]

The SDN price update as of now is $0.2223. In the previous 24 hours, its trading volume was $422,698, and its value has decreased by -1.01%. As of now, SDN's live market cap is $11,626,176, and it is ranked as the #999 on the Coincu. SDN has a circulating supply of 73,066,347 and a maximum supply of 73,066,347.

The Introduction of Shiden Network

The Shiden Network is a multi-chain Smart Contract on the Kusama network, which is constructed using the Substrate Framework. Functioning as a Parachain on Kusama, it serves as an R&B chain of Plasm Network. This platform supports Ethereum Virtual Machine, WebAssembly, and Layer 2 solutions, while also facilitating applications such as Defi and NFT.

In addition, Shiden Network acts as a "Canary Network" for Plasm, providing early code releases before they are launched on Plasm.

Main Features of the Shiden Network

The Shiden Network provides several essential functions:

1. Parachain Slot Auction: The Shiden Network aims to become a Kusama Parachain, and it will distribute 30% of SDN's Total Supply to KSM Crowdloan participants. Participants of Lockdrops on Plasm Network will also receive SDN at Block Genesis in a 1:1 ratio.

2. Plasm Network Portal: This portal acts as a tool for dApps and PLM Holder developers to stake PLM and earn PLM deploy apps.

3. Ethereum Bridge: The Shiden Network integrates Ethereum, ECDSA, Ethereum RPC virtual machines, and platforms such as MetaMask, Truffle, and Remix. It also collaborates on the Ethereum bridge to ensure compatibility with Layer 2 protocols.

4. Compatibility with Other Ecosystems: The Shiden Network establishes bridges with various ecosystems, including Ethereum, Secret Network, and Cosmos.

5. dApp Staking: SDN token holders can stake their tokens on favorite dApps, providing a fundamental source of income for developers and making SDN tokens discoverable for both nominees and dApp developers.

6. Multi Virtual Machine: The Shiden Network supports both EVM and WASM, enabling EVM contracts to interact with WASM contracts within the Shiden Network ecosystem.

Benefits of Shiden Network

The Shiden Network offers several remarkable advantages:

• Multi-chain: It establishes bridges with different ecosystems, including Ethereum, Secret Network, and Cosmos.
• dApp Staking: SDN token holders can stake their tokens on favorite dApps, providing a basic source of income for developers.
• Multi Virtual Machine: The Shiden Network supports both EVM and WASM, enabling cross-VM communication and interaction between EVM and WASM contracts.

For more information about the Shiden Network, visit here.