The Shiba Inu (SHIB) ecosystem has unveiled Shibarium, its Ethereum layer-2 network, which marks a significant milestone for the project.
Shibarium's Mainnet Launch Serves As The Fundamental Framework For The Whole SHIB Ecosystem
The Shiba Inu (SHIB) ecosystem has unveiled Shibarium, its Ethereum layer-2 network, which marks a significant milestone for the project.
This rollout comes after a thorough beta testnet phase with around 21 million users. With the aim of resolving Ethereum's scalability difficulties, Shibarium's mainnet launch serves as the fundamental framework for the whole SHIB ecosystem. It aims to increase transaction throughput while lowering costs, potentially outperforming rivals in terms of speed and cost-efficiency for decentralized applications (dApps) and transactions.
The launch of Shibarium is an intentional step to elevate Shiba Inu above its meme coin roots. SHIB, which was first released in 2020, quickly became popular in the memecoin space of cryptocurrencies together with Dogecoin (DOGE). The initiative hopes to move beyond its meme status by establishing a new identity of the protocol with the addition of Shibarium.
The Shiba Inu lead developer who goes by the moniker Shytoshi Kusama emphasized how different Shibarium is from other scaling methods. In order to provide users with efficient transactions, ownership and membership features, it works as a layer-2 solution that powers governance and the Shiba State framework.
The network relies on the Delegated Proof-of-Stake (DPOS) consensus mechanism.
The Shiba Inu ecosystem's numerous elements, such as tokens like SHIB and LEASH, SHIBOSHI NFTs, the decentralized market ShibaSwap, and the Shiba Eternity game, are all significant in relation to Shibarium.
