FinTech news in Nischal Shetty category

The startup eponymous blockchain, which is currently in testnet, aims to be EVM-compatible and use proof-of-stake and proof-of-quorum consensus mechanisms to reduce the cost of running the network and rely on three types of nodes — validator, archival and standby — in its network, it said in the investor deck. Shetty is raising $20 million to $30 million in a seed financing round for his blockchain startup Shardeum, sources said, requesting anonymity as the deliberations are ongoing and private. Indian crypto exchange WazirX‘s co-founder Nischal Shetty is in advanced stages of talks to raise a maiden funding round for his new venture, sources familiar with the matter told journalist. Shardeum is employing a technique called sharding that partitions the network into shards, resulting in more transactions being processed, verified and validated in parallel, the startup explained in an investor deck, reviewed by journalist.