The anticipated launch of Shiba Inu’s Layer-2 blockchain Shibarium Beta is almost here, the platform announced Monday. The official Shibarium blockchain Twitter account introduces some basic concepts to the Shiba Inu community about the Shibarium before launch. As a result, both SHIB and BONE tokens skyrocketed in the past 24 hours.

Shibarium Beta launch is almost here

Shibarium Network, the official Twitter account for the Shibarium blockchain, in a tweet on January 16 revealed that preparations for the Shibarium Beta launch are nearing completion. The Shiba Inu community will soon have the Shibarium.

“Introduction to Shibarium: Shiba Inu’s Layer 2 Network – Rejoice #ShibArmy! Shibarium Beta is about to be launched and through this article we want to introduce some basic concepts to bring clarity to the community.”

The official accounts of the Shib Inu ecosystem and core developer Shytoshi Kusama have given hints about the launch of Shibarium in early 2023. The Shiba Inu team revealed some basic concepts about the Shibarium blockchain and its launch in an official blog.

While a final date for the launch of the Shibarium beta has not been disclosed, the team said, “We are approaching the final touches for the launch of the Shibarium beta.”

Shibarium’s Layer 2 blockchain will solve the problem of scalability and performance limitations of current existing blockchain networks. The SHIB ecosystem tokens SHIB, LEASH, and BONE are the only tokens required for the Shibarium. It will have advantages in the metaverse, NFTs, dApps and gaming, with the evolution of Web3.

Validators and delegators will play an instrumental role in the Shibarium blockchain. Validators will enhance security by locking BONE tokens and serving Heimdall Validator and Bor block producer nodes.

As previously announced, BONE remains the only token selected to pay for gas transactions and reward Validators and Delegators within the Shibarium protocol. In addition, all transactions on the Shibarium network will burn more SHIB tokens, which will drastically reduce SHIB’s circulating supply.

SHIB and BONE Price skyrockets

The price of Shiba Inu (SHIB) is up almost 6% in the last 24 hours and more than 20% in the last 7 days, with the price currently trading at $0.00001079. The 24-hour low and high are $0.00000985 and $0.00001099, respectively.

Meanwhile, the price of Bone ShibaSwap (BONE) is up more than 15% in the past 24 hours. The BONE price is currently trading at $1.39, after reaching a 24-hour high of $1.42.

Also Read: Bitcoin (BTC) Whale Addresses Contribute to Recent Rally Above $21K, Now What?

Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Fascinated by disruptive technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for quite some time and is currently covering all the latest updates and developments in the crypto industry.

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

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