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Shareslake, focused on creating a new generation stock market through blockchain technology, released its main network on May 1st, 2022, becoming the first Cardano forked network.
Shareslake is focused on creating a new generation of stock market, offering periodical extra funds to companies for the transaction of their shares without charging the involved investors. This is possible thanks to the inherent elimination of intermediaries that blockchain offers plus the self-economy of their coin, Redeemable, designed for that purpose.
Furthermore, the approach also offers several advatages to investors over traditional systems. A good example is migrating a portfolio from a broker to another, this has always been a tedious process. “With Shareslake you will have a pluggable wallet that you can connect to any exchange on the network and you will be free to move to a different one at any time.” – the founder explained.
The Sharelake’s network is the first L1 network forked from Cardano, apart from the Cardano official networks. It aims to be government friendly, providing trust to the investors trading through the platform.
It is currently opened for developers to start deploying staking pools and perform transactions. It also supports smart contracts as part of the Cardano Alonzo era through Plutus scripts.
The team is working on adapting wallets to improve the UX and allow non-technical people to easily join the network.
They also plan to deploy a bridge between Cardano Mainnet and Shareslake Mainnet, allowing users to move assets between both networks.
"Since our network is open by default, we expect other tokenisation companies collaborating or working on top of it, enriching the ecosystem even more that we could alone” - the founder said.
“This is also a change on the old paradigm of a location-based business, where brokers need to have their servers closer to the exchange to be better than the rest. With Shareslake there is a single distributed ledger and the brokers infrastructure no longer depends on its location.” – he continued.
Shareslake is targeting medium size companies and startups, but in the long term they aim to scale size of the companies that join the network.
In conclusion, it is without a doubt a very interesting and ambitious project to keep on the radar if people believe that the blockchain is the future.
The process to join their network is described at their documentation center, from how to obtain Redeemable, the Shareslake’s base coin, to how to use their bridge to move RED from Cardano to Shareslake.
More information, including technical aspects, can be found at their blog.
Contact Info:
Name: Miguel Angel
Email: Send Email
Organization: Shareslake
Address: Spain
Website: https://www.shareslake.com
Release ID: 89074652
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