There has been an important development for the Shiba Inu (SHIB). Shibarium’s public beta announcement was made a few hours ago via its official Twitter account. Shiba Inu developers recently said that the highly anticipated Shibarium Blockchain will release its beta version for the layer 2 network this week. Here are the details…
Shibarium excitement begins for Shiba Inu investors
As we have also reported as Kriptokoin.com, a beta announcement has been made for the layer-2 solution Shibarium. The public beta version is a very important milestone for Shibarium. Because it was expected to be released since the beginning of this year. The technology is a layer 2 solution that offers a number of benefits to the Shiba Inu ecosystem, including faster and cheaper transactions, better scalability, and enhanced security.
https://twitter.com/Shibtoken/status/1633214820739629056
According to the statement, Shibarium documents containing all the necessary details are expected to be published in the coming days. By the way, an exact date has not been announced yet, only “this week” has been determined as the date so far. A beta testnet is a blockchain that mimics real-world operation. Layer-2 refers to a set of off-chain solutions (separate Blockchains) built on top of layer-1s to reduce congestion with scaling and data. These help reduce data overhead and fees by consolidating multiple off-chain transactions into a single layer-1 transaction.
As we reported earlier, Shiba Inu developers said that Shibarium will focus on metaverse and gaming applications, especially as the NFT sector is expected to heat up in the coming years, apart from Shibarium being used as an inexpensive platform for decentralized applications (dapps). To many, the launch could add to strong foundations for the Shiba Inu, which was created as a Shiba Inu-themed meme coin in the previous bull market and has since sought to position itself as a serious project with its own Blockchain network and dApp ecosystem.
SHIB and ecosystem tokens take a leap
Meanwhile, Shiba Inu ecosystem tokens took a leap on Wednesday after the beta launch was confirmed. The data witnessed Bone ShibaSwap (BONE) rise 11 percent from $1.39 to $1.75. Doge Killer (LEASH) is up 6.8 percent in the last 24 hours, from $486 to $554. The data shows that the bulk of the gains came earlier today. Both of these tokens are extensively involved in the Shibarium ecosystem. You can see the graphs of both as follows:
However, Shiba Inu’s native SHIB token, unlike the others, lost 3 percent. The coin may have had a selloff in anticipation of the Shibarium. SHIB fell from $0.0000111 to $0.0000108.
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