Shiba Inu developers are allegedly "approaching the finishing touches for Shibarium's Beta and its imminent launch.”
The developers behind the decentralized cryptocurrency Shiba Inu (SHIB) announced their plans to launch a beta version of the Layer-2 network called Shibarium.
According to the blog post shared on December 15th, Shibarium aims to provide the community with tools to “build and grow the project on their own terms.”
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In the blog post, Shiba Inu developers revealed that Shibarium will become a powerful Layer-2 blockchain and will revolutionize the Shiba Ecosystem. Based on the developers, the blockchain will operate “on top of the Ethereum blockchain, which the SHIB ecosystem tokens (SHIB, LEASH & BONE) utilize.”
On top of that, the developers stated that a Layer-2 network is set to open the doors for faster transaction speed, scalability, expansion of the development framework and lower fees.
Some crypto enthusiasts claim that the launch of the Layer-2 network is a part of the Shiba Inu team’s plan to increase the meme token’s price. However, Shiba Inu developers denied the allegations.
Patience is key, and some see Shibarium as a price-pumping tool, but that is not the project's focus and never has been.
In the announcement, Shiba Inu developers highlighted that Shibarium can be integrated into “different industry areas,” including gaming, Web3 and Metaverse. When talking about Shibarium’s possibilities, the developers noted:
<Shibarium can> reduce the load on the blockchain network and improve the user experience for metaverse and gaming applications. Combined, web3 and Shibarium's layer 2 blockchain technology can enable a new decentralized metaverse and gaming ecosystem, where players can interact and transact in a trustless and decentralized way.
Shiba Inu developers expect Shibarium to allow “faster, cheaper, and more private” off-chain transactions. Moreover, Shiba Inu developers revealed that “all transactions on the network will have an implicit burn amount for $SHIB token.”
The team behind Shiba Inu did not reveal the official release date for Shibarium’s beta version. However, developers stated that they are “approaching the finishing touches for Shibarium's Beta and its imminent launch.”
At the time of writing, Shiba Inu (SHIB) retails for $0.0000105, recording a 4.69% price increase in the last 24 hours.
