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Shiden Network

SDN

Price
$0.38
12/9/2022, 9:18:17 AM
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Market

Market stats

Market cap

$11.9M

Volume (24h)

$241,737.54

Circulating supply

30.9M SDN

All time high

$8.41

Price change (1h)

+0.01%

Price change (24h)

+4.3%

Price change (7d)

+34.37%

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Shiden Network is on the rise this week.

The price of Shiden Network has risen by 34.37% in the past 7 days. The price increased by 4.30% in the last 24 hours. In just the past hour, the price grew by 0.01%. The current price is $0.38 per SDN. Shiden Network is 95.43% below the all time high of $8.41.

The current circulating supply is 30,941,332.419 SDN.

About

What Is Shiden Network (SDN)?

Shiden Network (SDN) is a smart contract network for decentralized application (DApp) layer built on the Kusama Network that supports multiple blockchains. By design, Kusama doesn’t support smart contract functionalities. Shiden is designed to accommodate "layer 2" solutions- supplementary frameworks built on top of current blockchains to enhance the transaction speeds and scalability of the network.

As mentioned on the platform’s website, Shiden aims to work as a parachain on Kusama. Parachains are user-generated blockchains that are connected to Kusama's Relay Chain, the network's main blockchain. Kusama's shared security, consensus, and transaction settlements are all handled via the Relay Chain.

In addition, Shiden has a test network called Shibuya that behaves quite similar to the Shiden. Shibuya is connected to the network’s own relay chain. Any new features incorporated in the network are first tested on Shibuya before deploying them on Shiden. In this way, users can test their smart contracts on Shibuya before deploying them on Shiden to verify functionality.

The native token of the Shiden network is represented as ‘SDN.’ Users need to pay in SDN for executing transactions and deploying smart contracts on the network. SDN token holders are permitted to stake their tokens on dApps of their choice to earn SDN tokens. This helps both nominators as well as the dApp developers to earn the SDN tokens.

History of Shiden Network

The Shiden Network was developed under Stake Technologies Pte. Ltd in 2020. Sota Watanabe is the founder as well as CEO of the network.

Shiden Network is Astar network’s canary network, an operational blockchain network having a limited token supply, which is used to test features for a linked mainnet. Astar started its journey in 2019 as Plasm Network.

The maximum total supply of SDN tokens is capped at 70,000,000 SDN.

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FAQ

What is the current price of Shiden Network?

The price of 1 Shiden Network currently costs $0.38.

What is the market cap of Shiden Network?

The current market cap of Shiden Network is $11.90M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Shiden Network?

The all-time high of Shiden Network is $8.41. This all-time high is highest price paid for Shiden Network since it was launched.

What is the 24 hour trading volume of Shiden Network?

Over the last 24 hours, the trading volume of Shiden Network is $241.74K.

What other assets are similar to Shiden Network?

Assets that have a similar market cap to Shiden Network include ZIMBOCASH, HOPR, DerivaDAO, and many others. To see a full list, see our comparable market cap assets.

How many Shiden Network are there?

The current circulating supply of Shiden Network is 31 million.