- Shibarium is an upcoming L2 that aims to increase transaction speeds, lower fees, and provide increased token utility and seamless DApp development.
- Shibarium will increase throughput, enabling the L2 to handle significant growth, boosting transaction speed considerably, and users will likely see gas fees drop by as much as 90%.
Shibarium Beta Hits New Milestones, Mainnet Launch Might Be Imminent
Shibarium, the layer 2 protocol for Shiba Inu, has been making significant progress towards its mainnet launch. The protocol’s beta version, known as “Puppynet,” was launched on March 11, and it has already surpassed 14 million interacting wallet addresses on its testnet. The total transactions on the network have reached 4,934,064, with 671,347 blocks and an average block time of five seconds.
I see the question of WHEN #Shibarium will be released.
As we move through beta testing, it all depends on progress and audits. Shytoshi informed me that there will be audits.
In addition, it is extremely important not to underestimate SAFETY.
Crush-Tests are extremely… pic.twitter.com/2NmyqaPV0R— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) May 4, 2023
Shibarium Solves Ethereum Gas Fee Issue
If you’ve been involved in the world of crypto and/or NFTs, you’re probably aware of the high gas fees on the Ethereum network, which can reach up to $50 for small transactions. Shibarium aims to solve this problem by adding a layer-2 solution to the Shiba Inu ecosystem, increasing throughput, and enabling the L2 to handle significant growth. This is expected to boost transaction speed considerably, and users will likely see gas fees drop by as much as 90%.
As a PoS project hooked up to the Ethereum blockchain, Shibarium will help Shiba Inu scale while keeping it connected to Ethereum. Shibarium’s benefits don’t stop there, as it will also offer a complete ecosystem comprising several projects, including the SHIB metaverse, ShibaSwap DEX, and blockchain games. The metaverse and games are expected to attract users, while the DEX will provide better liquidity.
Shibarium will be utilizing BONE as the native gas token, and validators on the network will get paid in BONE for securing and validating transactions. Additionally, every transaction in the new ecosystem will burn SHIB, a mechanism to control the large supply of SHIB.
Shibarium is expected to bring significant improvements to the Crypto world, reducing gas fees by as much as 90%. By providing better transaction speeds, increased token utility, and seamless DApp development, Shibarium is poised to unlock the potential of the Shib Ecosystem and transform it into a value-added project with long-term prospects. Shibarium is the key to fixing all the issues that these ETH gas fees are causing. The future belongs to the Shib Army.
In conclusion, Shibarium is a promising layer 2 protocol for Shiba Inu that will revolutionize the world of crypto and NFTs. Shibarium’s ability to increase throughput, lower gas fees, and provide a complete ecosystem will make it a preferred choice for users. The mainnet launch of Shibarium seems to be imminent, and the progress made so far has been impressive.
Shibarium is expected to be a game-changer in the crypto world, unlocking the potential of the Shib ecosystem and transforming it into a value-added project with long-term prospects.