5 Things You Should Know About Shibarium, The Shiba Inu (SHIB) Layer 2
✍️ 28 September, 2022 - 5:28 👤 Editor: Jakub Motyka
- Shibarium, the Shiba Inu (SHIB) layer 2 solution is about to be launched.
- Shibarium will bring many benefits for the currency of the dog and its community.
- Do you want to know more about Shibarium? Keep reading.
Shiba Inu (SHIB), the renowned puppy coin that was born to be the Dogecoin Killer, is doing its best to ditch the meme coin tag. However, the low scalability and transaction fees of Ethereum has been a major obstacle to the growth of the ecosystem. That is why the development team has decided to create its own layer 2 solution, better known as like Shibarium.
What Is Shibarium?
Shibarium is the layer 2 solution of the Shiba Inu ecosystem, the project behind the SHIB token. Its main objective is to provide greater transactionality for its tokens, without the need to pay the high gas fees of Ethereum. This will give them greater utility and the possibility of being used as currency, an essential point to fulfill the ShibArmy's 1CentDream.
When Will Shibarium Be Released?
Despite not having an official release date, Shibarium is expected to be released in late September or early October 2022. This was recently confirmed by a developer at Unification, the development team behind Shibarium, who claimed that the public beta would be released shortly.
What Benefits Will Shibarium Bring To The SHIB Token?
According to Shytoshi Kusama, one of the objectives of Shibarium is to create an optimal environment for the development of new projects. The layer 2 solution will offer fast and low-cost transactions for the different applications of the ecosystem, in addition to the possibility of creating blockchain interoperability bridges.
Additionally, new forms of burning for utility have been discussed for the SHIB token within the new network.
What Will Happen To The Shiba Inu Ecosystem Tokens?
All tokens from the Shiba Inu ecosystem will be moved to the new Shibarium network. Ryoshi, the founder of the project, assured that despite being in a new independent network, they will continue to be connected to the Ethereum network.
What Will Happen To The Price Of The SHIB Token After The Launch Of Shibarium?
Many analysts think that Shibarium could be a good catalyst for a further rise in the price of the SHIB token. However, this type of parabolic rise is not sustainable in the long term, unless the ecosystem acquires new projects and utilities. In other words, this will depend on the use that the development team and its community I want to give. Will the ShibArmy be able to reach their 1CentDream this way?
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