The long-awaited Shibarium mainnet is officially live!
On August 16th, Shibarium, Shiba Inu ecosystem's Ethereum Layer-2 (L2) blockchain, was officially launched on the mainnet, concluding an extensive testing phase.
This innovative solution aims to provide users with an efficient transaction platform compatible with the primary Ethereum Layer-1 blockchain.
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Shiba Inu, most renowned for its SHIB token, garnered extensive attention during the 2020-2021 bull market, even momentarily surpassing the meme crypto pioneer, Dogecoin (DOGE).
Although it witnessed a drastic 80% dip during a subsequent bearish phase, this decline didn't stifle the coin's momentum. The resilient Shiba Inu community embarked on creating a diversified ecosystem around SHIB. This ecosystem boasts features, such as the decentralized exchange ShibaSwap with a native token BONE, and even ventures into a Web3 gaming and Metaverse domain.
Amidst this backdrop, Shytoshi Kusama, Shiba Inu's leading developer, shared that before the mainnet was live, Shibarium had already garnered the interest of multiple new projects. This revelation was complemented by an image showcasing an array of companies actively engaged with the Shibarium environment. Indications are that this number exceeds 100 entities.
Kusama recently emphasized the emerging trend of an “everything app” in tech circles. However, the developer stressed that community and decentralization should spearhead these innovations. Shibarium, he conveyed, embodies both these facets while respecting principles like decentralization, interoperability, and user-oriented design across blockchain and the broader tech sector.
Delving into the specifics, Kusama detailed that while the validator and delegator components assure Shibarium's decentralized nature, the real breakthrough is anchored in the ecosystem’s underlying governance, technological framework, and charter.
By using Shibarium for governance in this system, alongside self-sovereign identity to ensure quality membership (Shibizenship), the Metaverse as our territory, and the ability to partner with other like-minded states, we have effectively shattered what nationhood is and rebuilt it upon the Shib ethos of decentralization!
Shibarium's mainnet launch represents a monumental stride for the Shiba Inu community and the broader cryptocurrency space, setting the stage for more decentralized and scalable solutions in the future.
