The Shibarium beta testnet will soon be launched, benefiting the entire Shiba Inu community. Shibarium is a Layer 2 network operable on the Ethereum mainnet. After the release of Shibarium, the Shina Inu community can build and grow projects. The release of Shibarium will address the scalability, speed, and expense challenges faced by existing projects on Ethereum.
Shiba Inu Shibarium Beta Testnet Launch
Shiba Inu developers alone launch a beta testnet version in the coming months. A testnet mimics the use cases and applications of real-world features. Its release is intended to test the network for gaps or performance issues and assess its capabilities. Also, the layer two testnet aims to address the issues they face with scalability and data.
With this release, the Shiba Inu developers want to educate the community on the process of developing a blockchain from scratch. Prior to its release, Shibarium was claimed by some experts to be a marketing move and a price “gouging gimmick”. But the development team refutes such claims.
After its release, shibary It is also expected to improve the transaction speed of the platform and reduce its costs. Users will be able to interact with a metaverse solution, DEX, and various blockchain games.
SHIB/USDT daily chart | Source: TradingView
Shibrium’s ultimate goal is to facilitate a solution that leads to innovation and improves the DeFi security aspects of the project. Today, the Shiba Inu has a market capitalization of over $5 billion, earned collectively by SHIB, LEASH, and BONE.
The lead and developer of the project recently announced that the World Economic Forum wants to work with the ecosystem. The purpose of this collaboration is to work on a global metaverse policy. Other IT giants like Facebook, Sand and Decentraland will also be present at this global policy making.
I just want to say that I appreciate the updates. That’s all I asked for. Now this is transparent. Second, anyone asking in the comments section when the shibario is coming out, please read the first 2 paragraphs. You guys nailed it.
— Burrito (@ Burrito02353106) January 15, 2023
Shiba Inu Tokenomics Depends on Shibarium Working Mechanism
In Shibarium, validators play a fundamental role. Also, some SHIB tokens will be burned with each transaction. Validators on Shiba Inu will block BONE and fuel the Heimdall Validator.
According to the developers of Shiba Inu:
The incorporation of these Validators will be done taking into account experience, trust, knowledge and ensuring that these validators are committed to the health and integrity of Shibarium.
To become a validator, a user must lock 10,000 BONE. They will get rewards in the form of this token. New network layer and collaboration with WEF, it seems that Shiba Inu is working hard on its development.
Featured image from Traxer/ Unsplash, Tradingview.com chart.
This post Shiba Inu Developers Prepare to Introduce Beta Version of Shibarium L2 Network
was published first on https://newsbtc.com/shiba-inu/shiba-inu-devs-unveil-shibarium-l2-network-beta/