The highly anticipated Layer 2 solution, Shibarium, from the Shiba Inu community is set to release its beta version this week, according to a recent announcement from the Shiba Inu developers. However, the exact timing of the beta release has not been disclosed yet.
Shibarium, the Layer 2 solution from Shiba Inu, will focus on metaverse and gaming applications, as the NFT field is predicted to boom in the coming years. Additionally, the appearance of Shibarium is seen as a solution for decentralized applications (dapps) built on the Shiba Inu ecosystem.
Attention #SHIBARMY 🚨
We’re thrilled to announce that #SHIBARIUM Public Beta will be launching THIS WEEK! 🎉
Make sure you’re following our official socials over the next few days as we reveal all the details on how to access the beta website. Hail Shib! #ShibariumBeta 🦴 pic.twitter.com/0fG3u3mY4S
— Shib (@Shibtoken) March 7, 2023
Shibarium will use BONE as the governance token, and all gas fees on Shibarium will also be paid with BONE.
Following the announcement, the price of Bone ShibaSwap (BONE) surged more than 15%, while Doge Killer (LEASH) also rose 7.1%, according to data from Coinmarketcap.
However, the Shiba Inu token (SHIB) did not see much volatility after the news was released, as the price of SHIB dropped 2% in the last 24 hours.
Shiba Inu Group’s development team leader updated on Shibarium Layer 2
The launch of Shibarium is highly anticipated by the Shiba Inu community, as it is expected to provide a solution to the scalability issues faced by the Ethereum network. The Layer 2 solution is designed to allow for faster and cheaper transactions while reducing congestion on the Ethereum network.
Shiba Inu Group’s development team leader, who goes by the name of Ryoshi, stated that Shibarium will provide a highly scalable and efficient platform for developers to build decentralized applications. He added that the platform will be able to handle a large number of transactions without compromising on security or speed.
The beta version of Shibarium is expected to provide developers with an early look at the platform and help identify any potential bugs or issues before the final release. The launch of Shibarium is expected to generate further interest in the Shiba Inu ecosystem and could potentially lead to an increase in the value of BONE and other tokens associated with the project.
Overall, the beta release of Shibarium is a significant development for the Shiba Inu community and the broader crypto space. As the NFT market continues to grow, the demand for scalable and efficient solutions like Shibarium is only going to increase. The success of Shibarium could also pave the way for other Layer 2 solutions and help address some of the major challenges faced by the decentralized finance industry.
Read more:
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