• Shibarium is a Layer-2 solution built on top of the Ethereum blockchain.
• It promises to be faster and cheaper than Ethereum, while still enjoying its base network’s security.
• Led by Shytoshi Kusama, the Shib Army will finally leave Ethereum (ETH) forever and forge its own destiny with lower fees and newfound scalability.
What Is Shibarium?
Shibarium is a Layer-2 solution built on top of the Ethereum blockchain. Since Shiba Inu was first created back in 2020, the growth of its ecosystem has been restricted by Ethereum’s scalability issues. With Shibarium, this is all set to change. By launching its own network, the Shiba Inu community will be able to grow its flourishing ecosystem without being inhibited by Ethereum’s limitations. The Shibarium blockchain will be faster and cheaper than Ethereum while still enjoying the base network’s security.
How Does Shibarium Work?
The Shibarium blockchain will adopt a Proof-of-Stake consensus mechanism for verifying transactions and securing the network. Validator nodes will stake BONE tokens to the network to reach a consensus and produce new blocks. This makes it far more energy efficient than Proof-of-Work chains like Bitcoin (BTC). Like most Ethereum Layer 2 networks, Shibarium will also operate an EVM (Ethereum Virtual Machine), allowing developers to easily deploy Ethereum-based smart contracts and dApps on the new network. Moreover, Shibarium developers intend to create a permissionless bridge between the two networks, making it easy to migrate Shiba Inu tokens from Ethereum to Shibarium.
Shibarium History: The Story So Far
Ryoshi, the founder of the Shiba Inu, teased the idea of an entire blockchain dedicated to the community as far back as May 2021. In his now deleted blog post Ryoshi envisioned a network that could finally overcome Ethereum’s scalability issues and enable SHIB holders access cheaper fees while still enjoying higher levels of security compared to other blockchains in existence at that time such as Bitcoin (BTC) or Dogecoin (DOGE).
What Does This Mean For SHIB Holders?
The launch of Shiabrium marks an exciting moment for SHIB holders; they can now enjoy significantly lower fees compared with transacting on ETH while still benefitting from increased scalability thanks to their new home in Web3 world; one where they can explore numerous applications without worrying about high gas fees or slow transaction times holding them back from capitalising on their investments or playing around with innovative tools available within their newly established home – which many would argue is exactly what cryptocurrency enthusiasts have been aiming for since day one!
What Awaits The Shiba Inu Community?
The launch of Shiabrium not only represents an incredible opportunity for SHIB holders but also for developers thanks largely due it’s compatibility with existing dApp development frameworks such as Uniswap; allowing them access building decentralized applications with ease and simplicity unheard before in DeFi space! Furthermore this launch offers additional support towards wider adoption beyond niche space – which has been highly successful thus far – into mainstream media & public consciousness through increased visibility & recognizability gained through exposure resulting from high profile collaborations such as those made recently involving various influencers & celebrities alike who have come onboard alongside us during our journey thus far!