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- Shiba Inu has announced the upcoming release of Shibarium, a new two-Layer solution.
- Shibarium will have features like speedier transactions, comprehensive governance, and an environmentally friendly blockchain network.
- Shibarium is intended to offer additional features to SHIB customers, such as lower gas expenses.
- There is no set date for the new development’s debut.
Shiba Inu has earned the name “meme coin,” but the project has recently taken significant moves to enhance its use case. Shiba Inu’s team is actively developing a two-layer solution to compete with Ethereum.
Shibarium, the two-layer solution
Shibarium’s community was pushed over the edge after Eric M, the project’s chief developer, hinted at its release. He revealed this during a Discord Q&A session when he stated that the two- Layer solution would be shared with the community in the future.
Shibarium as a two-Layer solution was initially proposed by Shiba Inu’s creator Ryoshi on Medium. In the article, he added that the purpose of Shibarium was for the network to avoid the costly gas taxes that customers must pay. Other advantages include speedier transactions, comprehensive governance, and a blockchain that is environmentally friendly for the network.
Shibarium is said to have its own stablecoin, SHI
Shibarium is said to have its own stablecoin named SHI, which will also operate on Ethereum, based on available resources. SHI, according to Ryoshi, will be the worldwide stable currency that ordinary people may use for commerce or as a store of wealth.
Aside from the stablecoin SHI, the major token on Shibarium will be BONE. The reasoning offered is that “BONE will have a fair and “0” start in which we will not have to worry about over hurting whale bags.” Ryoshi points out that SHIBA and LEASH holders have nothing to worry about because their holdings may be converted to BONE via ShibaSwap.
Timelines and goals are a challenge for Shibarium
Shibarium’s actual debut date remains uncertain due to a lack of information about the project. In the Discord conversation, chief developer Eric M simply stated that the project will be released “soon,” without providing any timetable.
When participants pressed him for details, he stated, “Those who trusted the initiative before to the exchange were successful post-swap” he further explained,” When you trust a project, you don’t need a timeframe.”
The community may face some challenges as it attempts to transition from the label of being a meme currency to a project with meaningful use cases because of the uncertainty surrounding the exact timetable of the launch. Timelines and goals are critical in the crypto-verse, and Shiba Inu could potentially score points by announcing a launch date.
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.
