While the developers did not give an exact date for the release, the team reiterated that their answer to all questions relating to the time frame is soon. 3029 Total views 19 Total shares Listen to article 0:00 News Own this piece of history
Collect this article as an NFT The developers of the dog-themed token Shiba Inu (SHIB) posted an update to inform its community about its upcoming beta release of Shibarium a layer-2 network that will run on top of the Ethereum mainnet.
In theannouncement, SHIB developers shared information about layer-2 blockchains. They highlighted that Shibarium is being developed to provide a tool to allow the community to build and grow the project and fulfill its founders vision. While some believe creating Shibarium is a way to increase the memecoins price, the developers noted that this wasnt the goal. They wrote: Patience is key, and some see Shibarium as a price-pumping tool, but that is not the project’s focus and never has been.
Instead, the developers mentioned that the goal of the new update in its infrastructure is to revolutionize the Shiba ecosystem by removing barriers to entry for small transactions, upgrading the speed, allowing the development of decentralized applications and integrating nonfungible tokens.
A key update in the new announcement is one of the most-requested features for the project, which is a burning mechanism for SHIB. According to the developers, all transactions on the network will have an implicit burn amount for SHIB token. This mechanism will occur whenever a transaction is made within the network.
While the developers did not give an exact date for the release, the team reiterated that their answer to all questions relating to the time frame is soon.
Related: Shiba Inu founder deletes social media posts, steps down from community
Members of the Shiba Inu community expressed their excitement over the new development. Some believe there are many things to look forward to in the ecosystems future, while others are just glad to read a new update on the project.
I just want to say that I appreciate the updates. That’s all I asked for. Now, this is transparent. Second, anyone asking in the comment section when shibarium is coming out, read the first 2 paragraphs. You guys nailed it. Burrito (@Burrito02353106) January 15, 2023
On Nov. 22, 2022, SHIB developer Shytoshi Kusama reported on social media that the World Economic Forum (WEF) invited the project to collaborate on creating a global policy on the metaverse. The developer highlighted that if it comes to fruition, the project will work with other tech giants like Facebook and Decentraland in helping the WEF develop the policy. #Blockchain #Altcoin #Layer2 #Shiba Inu Related News How to store Bitcoin on MetaMask How to connect the Avalanche network to MetaMask? Underdog rises: Dogecoin survived carnage in 2022 better than most Heres how to quickly spot a deepfake crypto scam cybersecurity execs Nifty News: Degen season returns with feet NFTs, disappointing Game of Thrones NFTs and more
