Shiba Inu comes with something new: Shibarium

The crypto coin Shiba Inu is going to release something new and it’s called Shibarium. Read what it is here.

The coin community is anticipating the launch of the layer two (L2) scaling solution. It’s called Shibarium and and the public beta version will be launched in the third quarter. According to Shiba Inu developers Shytoshi Kusama and Ryoshi, the layer two solution will significantly reduce transaction costs and potentially bring it down to zero. So good news.

Shiba Inu comes with Shibarium

The meme token Shiba Inu (SHIB) has seen a 33.6% gain against the US dollar in the past seven days. Much of the increase revolves around the Shibarium announcement. In addition, bought a whale recently SHIB 163.2 billion worth about $1.74 million using current SHIB exchange rates. There has been a lot of discussion about the L2 scaling solution Shibarium on the project’s Discord server. But it’s really coming.

Furthermore, the Unification Foundation, a team of developers behind Shibarium, has revealed a few updates about the upcoming project. According to the Unification Foundation, Shibarium was launched in a private environment during the alpha-testnet phase. The developers explained that the results were successful and that “the main tool under heavy development is the wallet application.”

Third quarter

The Shibarium Public Beta Testnet is scheduled for deployment in the third quarter. The public Beta Testnet allows parties to fully interact with the network. Including the validation process.

SHIB also has a branding strategy that aims to make the crypto assets more scarce. This by allowing people to burn SHIB in the burn portal. While burning helps to reduce SHIB stock, 589,390,205,650,282 SHIB is in circulation today. So quite a few coins can still be ‘burned’.