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Layer 1 blockchain Shardeum launched its Ethereum Virtual Machine mainnet on Thursday, accompanied by an upgrade that includes a SHM redenomination at a 1:240 ratio. Community members voted on the redenomination proposal, with 85% approving the increase in total supply from 249 million to 60 billion tokens, Shardeum told Benzinga.
The network reported 171,000 public validators and 1.4 million community members, making it India’s fastest growing Web3 community. According to Shardeum, the rollout connects the EVM mainnet upgrade with the community-approved token split.
“The EVM mainnet marks a defining milestone for Shardeum as we move closer to building a truly decentralized network that empowers both innovation and inclusion,” Shardeum co-founder Nischal Shetty told Benzinga. “This launch reflects our vision of a blockchain that is equitable, efficient, and affordable for everyone.”
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Over 500,000 SHM tokens were used in the voting process, Shardeum said, adding that the voting mechanism was built in three days from scratch.
“The SHM redenomination is a clear reflection of Shardeum’s community-driven governance in action,” Shetty told Benzinga. “By making SHM more granular and accessible, we’re enabling wider retail participation — especially in emerging markets like India — and showing how transparency, inclusivity, and active governance can shape the future of decentralized networks.”
The lower per-token price enables broader participation among retail investors, Shardeum said.
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The EVM mainnet launch introduces full Ethereum Virtual Machine compatibility on the Shardeum network. Developers can build and deploy decentralized applications using Ethereum-based tools without learning new programming languages while maintaining lower and more predictable gas fees within the Shardeum ecosystem, the company said.
Shardeum is designed to autoscale as user activity grows, combining low transaction fees, linear scalability, and permissionless participation. The blockchain aims to make decentralized applications affordable and accessible for developers and users across global markets.
