Shiba Inu is cute, funny and you can make (or lose) good money with it. But it is much more than that and that is thanks to Shibário. No, this is not a fishbowl full of puppies, but a real blockchain network.
In this article you will learn why the Shibarium plays such an important role in the Shiba Inu ecosystem.
Shibarium aims to transform Shiba Inu from a ‘meme coin’ to a complete ecosystem that provides innovative solutions to the challenges Ethereum faces.
Shiba Inu eats Ethereum
The story begins in May 2021, when Ryoshi, the anonymous Shiba Inu breeder, first introduced Shibarium in a now-deleted blog post. The goal of this new blockchain is clear: to solve all of Ethereum’s problems, with Shiba Inu at the center.
What makes Shibário so special? As a Layer 2 solution, it is designed to work with the Ethereum blockchain, but at an affordable price and with high scalability.
Layer 2 solutions like Shibarium are additional frameworks built on top of blockchain networks to handle off-chain transactions. This increases transaction speed and reduces costs without compromising security.
The rise of Shibarium is a promising development for companies struggling with high gas prices and slow transaction speeds on the Ethereum network. This new Layer 2 solution could be the key to simpler, faster and more attractive transactions within the Shiba Inu ecosystem.
Shiba Inu are becoming increasingly rare
The launch, originally scheduled for February 2023, was postponed to ensure a flawless ecosystem. But in August 2023 the time had come: Shibarium went live.
Shibarium collects multiple transactions before processing them off-chain. This means they are processed faster and cheaper. At the end of the process, transactions are recorded on the Ethereum blockchain in a secure and verifiable manner. Additionally, Shibarium reduces the number of Shiba Inu tokens in circulation by burning them with every transaction.
To alleviate pressure on the Ethereum mainnet, Shibarium will pay gas fees with BONE tokens. Twenty million BONE tokens are reserved for so-called validators and delegators.
If you think Shibarium will play an important role in blockchain and cryptography, then you may want to consider investing in Shiba Inu. This coin is available on BLOX, the Dutch crypto PP.
Source: BTCDirect
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
