Shibarium : Everything You need to Know About Shibarium

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Hey there! This is Shibarium News. 'What is Shibarium?', 'When will Shibarium launch?' These questions are flooding everywhere on the web. Hold on, today we will tell you everything about 'Shibarium blockchain', so let's start with highlights.

  • Shibarium is a layer 2 blockchain solution being developed by Shiba Inu, a popular cryptocurrency, to address the low throughput and high gas fees of the Ethereum blockchain.
  • Shibarium L2 will be built on top of the Ethereum blockchain and use Unification $FUND / $xFUND technology, and will be fully decentralized and community-driven with BONE as the native token.
  • The main goal of Shibarium is to improve the scalability and efficiency of the decentralized finance space by leveraging the security of the Ethereum blockchain.
  • The Shibarium development team includes experienced professionals in the cryptocurrency and blockchain space, including Shytoshi Kusuma and Kaal Dhairya. It is not clear how many people are on the team or what specific roles they play.
  • The exact Shibarium release date has not yet been announced, but the project is in its beta stage and is on track for completion according to the developer, Shytoshi Kusuma.

Shibarium is a layer 2 blockchain solution that is being developed by Shiba Inu, a cryptocurrency that has gained popularity in recent years. The main criticism of the Ethereum blockchain on which Shiba Inu is built is its low throughput capabilities and high gas fees, which have posed a significant obstacle to the growth of the Shiba Inu ecosystem. In an effort to address this issue, Shibarium aims to improve the scalability and efficiency of the decentralized finance space by building on top of the Ethereum blockchain.

Shibarium
Source: DYORspot.com

What is Shibarium?

Shibarium is a layer 2 blockchain solution that runs on top of the Ethereum blockchain, leveraging its security layer while improving upon its scalability. The project is currently in its beta stage, and it plans to onboard delegators and validators in its initial release. Shibarium plans to use Unification $FUND / $xFUND technology and will be fully decentralized, with the community driving its development. The native token for Shibarium will be BONE, which will give additional utility to the token once this portion of the ecosystem goes live.

Why Shibarium?

Shibarium is being developed to address the low throughput and high gas fees of Ethereum, which have been a major obstacle for the growth of the Shiba Inu ecosystem. By improving upon the scalability of the Ethereum blockchain and leveraging its security layer, Shibarium hopes to make a significant impact in the decentralized finance space.

What is a Layer-2?

A layer 2 solution refers to a technology or protocol that operates on top of a blockchain, improving upon its scalability and efficiency. Layer 2 solutions are often used to address the issue of low throughput and high fees on blockchains, as they allow for more transactions to be processed off-chain while still maintaining the security of the underlying blockchain.

How Will Shibarium Work?

Shibarium will work by building on top of the Ethereum blockchain and using Unification $FUND / $xFUND technology. It will be fully decentralized and community-driven, with BONE serving as the native token. The main goal of Shibarium is to improve the scalability and efficiency of the decentralized finance space by leveraging the security of the Ethereum blockchain.

Who is on the Shibarium development team?

The Shiberium development team is the same team that created the Shiba Inu, including the main developers Shytoshi Kusama and Kaal Dhairya. It is not clear how many people are on the development team or what specific roles they play, but it is likely that they are working together to bring the project to fruition.

When Will Shibarium Launch?

The exact launch date for Shibarium has not yet been announced, but the main developer, Shytoshi Kusama, has stated that the beta for the project is close and that it is on track for completion.

Conversations and references:

On December 21st, 2022, a user named LuckyLuck on Telegram asked Shytoshi Kusama "please let us know if shibarium is ready", to which Kusama replied, "It's close. Otherwise I probably wouldn't be here." Kusama later added, "Seriously, it's coming. Beta is near for Shibarium."

On November 5th, 2022, @Shibtoken tweeted that We are now following @ShibariumNet on Twitter! @ShibariumNet will eventually become a social informational hub to all things related to the Shibarium Network & Protocol".

In a November 5th, 2022 medium blog, it was stated that Shibarium, also known as L2, is being developed by the Shiba Inu team in conjunction with Xfund. It was also noted that the project is on track for completion and that a public beta date has not yet been determined.

In a July 6th, 2022 medium blog post, it was confirmed that Shibarium will be using Unification $FUND / $xFUND technology.

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