Shibarium, Shiba Inu (SHIB) Layer 2 Solution, Is Getting Closer

Shibarium de Shiba Inu (SHIB)

✍️ 5 September, 2022 - 9:24 👤 Editor: Jakub Motyka

  • Shiba Inu (SHIB) developers have revealed that the first test version of Shibarium could see the light of day before the end of the third quarter of this year.
  • Shibarium is a layer 2 solution created by the members of the Shiba Inu crypto project.
  • Do you want to know more about Shibarium? Read on.

Shibarium is getting closer to becoming a reality. Shibarium is a new project from the developers of the memecoin Shiba Inu (SHIB), who are having a year one of the most active in terms of releases, and in this case it is a layer 2 solution–in the purest style of Polygon (MATIC)– which, as is often the case with this type of technology, seeks to significantly lower the costs of operating with the project's tokens.

Shiba Inu (SHIB) is involved in more and more projects. 2022 is proving to be a year of great releases for the ShibArmy: in addition to the new mobile game Shiba Eternity, its developers are also working on a project related to the Shiba Inu metaverse. And, of course, the launch of Shibarium that we are here to talk about this time.

The crypto Shiba Inu (SHIB) wants to stop being the alternative memecoin to Dogecoin (DOGE). To achieve this, Shibarium is one of the great projects that the developers of this cryptocurrency have prepared for this year. Let's see in more detail the latest news about Shibarium.

Shibarium: Release Date, Availability And First Versions

If all goes according to plan, there are only less than 40 days left for the arrival of Shibarium's Public Beta TestNet, as announced a while ago on the Unification blog, the company responsible for creating this layer 2 solution.

Shibarium does not yet have an official release date. It is expected to take place throughout this year 2022, although at the moment there are no specific dates in this regard. The only thing that is officially known, therefore, is that the first test versions of this layer 2 will begin to be distributed during the third quarter of the year.

In A Nutshell, What Is Shibarium?

Shibarium is a layer 2 solution based on Ethereum (ETH) for the Shiba Inu (SHIB) project. Its objective is to reduce gas fees, or transaction costs, for all operations related to the Shiba Inu crypto project.

Shibarium arrives to face the high gas fees that the Ethereum (ETH) network represents for the crypto Shiba Inu (SHIB), especially now that those responsible for the project are getting deeper and deeper into the NFT world. To buy or sell NFTs, gas fees are a key factor since they determine how much you have to pay – on the ETH network that means paying a lot – to make the exchange.

As Shytoshi Kusama, one of those responsible for the project, has commented, "Shibarium will offer low transaction costs for any service, game or other projects that are built on top of it". Because in addition to the native projects of the platform, external developers will also have access to this layer 2 to build their Shiba Inu-related ideas on top of it.

The Shibarium token will be BONE, which will serve as an exchange currency to pay for gas in the operations carried out on this solution layer 2.

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Juan Pais

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