Shiden Network is a distributed, open-source peer-to-peer (P2P) cryptocurrency network and digital payment system. It was created in early 2019 by an anonymous group of developers who have since remained anonymous. The Shiden Network seeks to provide a secure platform for users to store and transact digital assets with low transaction fees and fast transaction times.
The Shiden Network utilizes blockchain technology which allows it to be decentralized, meaning that no single entity controls the network. This makes it resistant to outside interference as well as government control or manipulation. Transactions on the Shiden Network are confirmed through a process called consensus which requires multiple computers on the network to agree before any changes can be recorded onto the blockchain ledger.
The Shiden Network uses its own custom token known as SHD. SHD is used for transactions within the network such as buying goods or services from other users, transferring funds between wallets, etc., but it can also be traded for other cryptocurrencies via exchanges or transferred into fiat currency using third party services like Changelly or Coinbase Pro.. Additionally, SHD tokens can be staked in order to earn rewards over time – this process is known as “staking” and requires users stake their tokens in order to participate in validation of transactions on the Shiden Network itself (this is referred to as Proof of Stake).
The goal of Shiden Network is not only provide financial freedom but also improve scalability across different applications built atop its protocol layer enabling them faster speeds than other alternative networks available today making it attractive option for both developers looking build upon its protocol layer while providing end user more seamless experience when transacting with each other within these applications due high throughputs resulting from improved scalability achieved by utilizing shidon protocol layer .
Overall, The ShidenNetwork provides fast transactions at low costs while allowing users complete autonomy over their finances without relying on centralized entities such as banks or governments – giving people true financial privacy and freedom that has never been seen before with traditional currencies
