A test launch of the Shibarium network, a second-level blockchain built on top of Ethereum, will soon be made, the developers of the Shiba Inu cryptocurrency said. The network will help speed up transactions, lower fees, and empower the ecosystem.
Image source: blog.shibaswap.com
The Shiba Inu project was launched in the Ethereum environment 2.5 years ago – its creators wanted to exceed the capitalization of Elon Musk’s favorite token Dogecoin, keeping the quote no higher than $0.01. So far, the goal has not been achieved, and the once “meme” cryptocurrency ranks 16th in the world in terms of capitalization ($6.1 billion), while Dogecoin is in 9th place ($11.6 billion). The developers assured that their own blockchain is not intended to increase quotes, but to reduce the load on the main network and increase comfort for users in the metaverse and games.
The second-level Shibarium blockchain will work with SHIB, Leash and Bone tokens – the latter will be used to cover transactions and pay rewards to validators. For these purposes, 20 million Bone coins worth $27 million have been reserved. The developers suggest that their own network will help reduce fees – they will be lower than in the main Ethereum network. It will be possible to confirm this only by the results of testing the new blockchain, which will start soon, although the exact date has not yet been announced.
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