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- BONE will be the primary currency on Shibaruim instead of SHIB, avoiding whale concentration. Ryoshi aims to make Shibaruim purely decentralized, simultaneously avoiding any vulnerable points.
- Shibaruim to be one of the most significant catalysts for cryptocurrency, reducing transaction costs for an ecosystem that involves games & NFTs.
- Ryoshi aims to make SHI an immutable globalized exchange of value, simultaneously working with core developers to bring Shiba Inu into the metaverse.
Eric M, the developer of ShibaSwap, recently spoke on the current progress of Shibarium. He hinted that it would be coming soon via a recent comment on a Shiba Inu dedicated Discord server. The layer 2 scaling solution is one of the most-awaited updates, about which this anonymous developer failed to give a sharp timeline for the launch.
Comments By Eric M
- “Those who trusted the project pre-swap were successful post-swap. That’s believing. A timeline is not needed when you trust a project. That’s how Shib has worked until now and will keep being like this.”
- “Soon”
- “On that case, Shibarium can’t be silently dropped. There’s some things that need to be done when the L2 is ready.”
- “Even if not receiving an answer, I’ll answer you. You should change your POV when evaluating trends; it’s a mistake not zooming out and considering market conditions. Besides that, thinking that the only way to push Shib is waiting for the game is… lets say, not knowing how this project works. Timelines won’t ensure sucess, it never did.”
- “Bone will be required. Definitely tBone as a.”
- “Thank you for the question. Things are good, teams keep growing to be able to manage that much outputs, but it’s cool to see the project evolution and growth over 1 year.”
No Waiting For Ethereum 2.0
Eric M mentioned earlier this month that, to launch Shibarium, the team wouldn’t be required to wait for the Ethereum 2.0 launch, the second-largest blockchains’ major Proof-of-stake upgrade. Shiba Inu’s layer 2 solutions is described by Ryoshi, the best performing cryptocurrency of the year’s unknown developer, in a lengthy blog post on Medium.
The BONE Currency
The ShibSwap decentralized exchange’s governance token, Bone ShibSwap (BONE), will be the primary currency of the platform, rather than SHIB, to ensure whale concentration is avoided. The Medium blog written by Ryoshi poured stress on making Shibaruim decentralized simultaneously and adequately, ensuring that no vulnerable point of failure is missed out.
Shibaruim Catalyst
Being an ERC-20 token, Shiba Inu faces high fees, as it is built on top of the Ethereum Blockchain. It is vital for cryptocurrency’s straggling ecosystem, which involves gaming & NFTs (Non-Fungible Tokens) to reduce the costs of transactions. This is why the forthcoming Shibaruim is being considered one of the greatest catalysts for cryptocurrency. As per market capitalization, Shiba Inu continues to be the 13th biggest cryptocurrency. Also, Bitstamp recently announced that, by 2022, it would initiate support for Shiba Inu trading.
Ryoshi’s Vision
Core developers and Ryoshi are working together on bringing Shiba Inu into the ecosystem of the metaverse. The anonymous developer stated that “we are working on so many aspects of Shiba Inu including Shibarium, Shi, Shibanet, The Decentralized Shiboshi Game, Incubator and much more that won’t become evident until the near future.”
Ryoshi, in the Medium blog post, said, “My vision is the core Ecosystem tokens SHIB, LEASH, BONE and TREAT all performing their utility while SHI slowly but surely becomes the immutable globalized exchange of value. Imagine a fish market vendor in Durbs accepting 330 SHI for his dorado.”
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
