India is no longer watching from the sidelines. With major Web3 metrics pointing upward, the country has taken a leading role in Shardeum’s latest campaign, while broader industry data confirms its rising global stature.
Proof of Keys: India Leads
Shardeum’s “Proof of Keys” airdrop program asks users to hold at least 100 SHM tokens in a self-custodial wallet for 30 days. The incentive? Reward those who maintain ownership of private keys and uphold decentralization.
India accounted for 17% of global visitor registrations to the Proof of Keys portal — the highest among all countries. Close behind were Japan, Indonesia, and Germany.
Participants globally have self-custodied over 1.5 million SHM tokens during the program. This shows strong trust from users in how Shardeum is building out its ecosystem.
The campaign also ensures fairness: rewards are based on the lowest balance held during the holding period. Even if balances grow later, eligibility depends on those minima. Additionally, topics like KYC verification are introduced for larger reward thresholds.
Developer Momentum: India Rises
Shardeum’s recent traction aligns with broader developer trends. According to Electric Capital’s 2024 Developer Report:
- India contributed 17% of all new crypto developers in 2024 — more than any other country.
- The country holds about 12% of the global open-source blockchain developer base, second only to the U.S.
- Overall monthly active developers in crypto remain at ~23,600 in 2024, down slightly from 2023. But veteran (2+ years) contributors rose by 27%, now responsible for ~70% of code commits.
Solana, notably, gained the highest share of new developers in that period, pulling ahead of other ecosystems.
Where in India the Growth Is Visible
Shardeum’s data show strong interest from India’s leading hubs. Mumbai‑Maharashtra showed the highest registrations among Indian states. Key cities beyond Mumbai — such as Pune, Nagpur, Navi Mumbai, Pimpri‑Chinchwad, and Solapur — also made significant contributions.
Delhi‑NCR registers second‑highest contribution. Communities in Delhi, Gurugram, Noida, Ghaziabad, and Rohtak showed active participation — especially among students and developers.
Meanwhile, Bangalore continued its reputation as India’s tech engine. The city’s startups and academic ecosystem are playing a big role in hosting Web3 events, developer workshops, and early stage projects.
India’s rise in Web3 isn’t just in numbers. The shifts include more devs working across chains, a focus on self‑custody, decentralized finance, and educational initiatives. Shardeum’s Proof of Keys aligns with that shift.
In the same vein, Shardeum is pushing its PayFi mission. The chain promises micro‑ and macro‑payments at fees as low as $0.01 or less, supporting real‑world use cases like remittances, IoT payments, tipping, and more.
Read Also: The Blueprint for Mass Cryptocurrency Adoption Starts With Security
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