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.

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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The current market cap of Shiden Network is $954.72K. A high market cap implies that the asset is highly valued by the market.

The all-time high of Shiden Network is $7.41. This all-time high is highest price paid for Shiden Network since it was launched.

Over the last 24 hours, the trading volume of Shiden Network is $618.477.

Assets that have a similar market cap to Shiden Network include LABUBU SOL, OSCAR, Intuit Tokenized Stock (Ondo), and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Shiden Network is 68 million.