HomeNewsShiba Inu Makes Significant Moves: Wrapped BONE Token Launch, ShibaSwap Migration, and...

Shiba Inu Makes Significant Moves: Wrapped BONE Token Launch, ShibaSwap Migration, and 5-Second Block Scaling Update

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  • Shytoshi Kusama, Shiba Inu’s lead developer, details the future trajectory of Shibarium, including Wrapped BONE (WBONE) token launch, smart contract verification, and ShibaSwap’s migration.
  • Shibarium’s development is still in its nascent stages, with a focus on decentralized systems and highlighting Shibarium projects.

Shibarium’s Forward-Looking Compass: Decentralized Systems & Wrapped Tokens

As the cryptocurrency landscape continues to evolve, Shibarium, the layer-2 blockchain solution under the Shiba Inu umbrella, is not one to lag behind. Shytoshi Kusama, the luminary steering the Shiba Inu project, recently provided an exhaustive update outlining Shibarium’s development trajectory.

WBONE Token: Catalyst or Just Another Milestone?

One of the most pertinent disclosures was about the Wrapped BONE (WBONE) token, poised to play a pivotal role in the ShibaSwap ecosystem. As the wrapped avatar of Bone ShibaSwap (BONE), it’s not just a clone but a designated gas token for Shibarium’s network. Kusama reassured the community that the WBONE’s development is progressing as per schedule, dispelling any uncertainties surrounding it.

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Equally significant is the upcoming smart contract verification process. Scheduled for the imminent week, this is a crucial development given its potential to fortify Shibarium’s infrastructure. In a move highly anticipated by the community, Kusama revealed that the Shiba Inu team will renounce the BONE contract. This action precludes the possibility of minting new BONE tokens, aligning with the community’s concerns regarding the token’s absence from major exchanges.

ShibaSwap Migration: A Testament to Shibarium’s Centrality

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Further unfolding the roadmap, Kusama indicated that the ShibaSwap decentralized exchange is on the brink of migration to Shibarium. This isn’t a whimsical change but a strategic shift that encapsulates all Shiba Inu-related utilities including NFTs and other metaverse products. The transition serves as an affirmation of Shibarium’s cornerstone role within the project’s ecosystem.

Kusama stressed that Shibarium is still in the early phases of its developmental journey. The focus, he mentioned, will be on erecting decentralized systems and amplifying Shibarium-centric projects.

The updates come on the heels of Shibarium overcoming its initial hiccups. After a transient halt due to overwhelming user interaction, Shibarium is back in action, handling an average of 66,058 transactions per day. A remarkable 349,206 blocks have been mined on the mainnet, and the platform now boasts over 100,000 active wallets. Despite the previous stumbling blocks, the metrics indicate a vibrant user engagement and operational efficiency, encapsulated by an average block duration of just 5.1 seconds.

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Jane Smith
Jane Smith
As a Bitcoin Journalist, I am dedicated to reporting the latest developments in cryptocurrency, with a particular focus on Bitcoin. Through extensive research and interviews with industry experts, I provide accurate and up-to-date information on the ever-evolving world of cryptocurrencies. My goal is to help readers stay informed and make informed decisions regarding their investments in this rapidly changing field.
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