- Shiba Inu suffers from high gas fees because it is an ERC-20 token built on top of the Ethereum network. This makes it costly for many newbies. This is why many people believe Shibarium will be a game-changer with one of the most popular canine coins, as transactions will be faster and cheaper. As a result, Shiba Inu will be gaming-ready
- The Shiba Inu token’s pseudonymous founder revealed that Bone ShibaSwap (BONE) would be Shibarium’s primary pair token
- They also stated that there would be no single point of failure, emphasizing that now the layer-2 solution will adhere to decentralization principles. Shiba Inu developers also intend to create SHI, an algorithmic stablecoin that will run across both Ethereum and Shibarium
Unification Foundation, a developer of blockchain solutions for businesses, recently announced the launch of an open testnet of Shibarium, a layer 2 scaling solution for the Shiba Inu cryptocurrency, in a Medium blog post. Shibarium’s own testnet has already released its second iteration.
The Launch Of Shibarium Could Be Postponed Indefinitely
Ryoshi, the founder of Shiba Inu Coin, offered Shibarium as a blockchain/layer-2 option. SHIB tokens would be moved to Shibarium whenever it debuts. Shibarium is much more likely to become an L2 that sits on top of the existing (Ethereum) blockchain since Ryoshi first used the term blockchain. The border here between L2 and its own blockchain is thin, the SHIB founder remarked. They instance, what is the difference between Matic L2 and BSC? Lowering transaction prices for those in the Shiba ecosystem will be one of the key goals.
Transaction costs on Shibarium will be modest, if not non-existent. “Shibarium will give minimal prices for every service, game, or whatever that builds on it,” Shytoshi Kusama, the Shiba Project Lead, announced on the Shiba Discord.
Shibarium couldn’t be just discarded, developer Eric M tweeted in December, adding that there were a few things that needs to get done. Before that, he promised the community that the long-awaited scaling solution will be released soon. Shiba Inu’s creators haven’t set a firm deadline for the project because they can’t guarantee its success. As a result, some people were concerned that Shibarium’s introduction might be postponed indefinitely.
Shiba Inu suffers from high gas fees because it is an ERC-20 token built on top of the Ethereum network. This makes it costly for many newbies. This is why many people believe Shibarium will be a game-changer with one of the most popular canine coins, as transactions will be faster and cheaper. As a result, Shiba Inu will be gaming-ready. A single transaction on Ethereum costs 86 gwei ($4.29) at press time, which is a substantial barrier to wider adoption.
No Single Point Of Failure
Ryoshi, the Shiba Inu token’s pseudonymous founder, revealed that Bone ShibaSwap (BONE) would be Shibarium’s primary pair token. They also stated that there would be no single point of failure, emphasizing that now the layer-2 solution will adhere to decentralization principles.
Shiba Inu developers also intend to create SHI, an algorithmic stablecoin that will run across both Ethereum and Shibarium.