The creators of Shiba Inu are preparing to test their
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The creators of Shiba Inu are preparing to test their own Shibarium blockchain

A test launch of the Shibarium network, a second-layer blockchain built on top of Ethereum, will be forthcoming. reported Developer of the cryptocurrency Shiba Inu. The network will help speed up transactions, reduce fees and strengthen the ecosystem.

    Image source: blog.shibaswap.com

Image source: blog.shibaswap.com

The Shiba Inu project was launched 2.5 years ago in the Ethereum environment – its creators wanted to exceed the capitalization of Elon Musk’s favorite token Dogecoin and keep the odds no higher than $0.01. So far, the target has not been met, and the once “meme” cryptocurrency is ranked 16th globally in terms of capitalization ($6.1 billion), while Dogecoin is ranked 9th ($11.6 billion) . The developers assured that their own blockchain should not serve to increase quotas, but to relieve the main network and increase the convenience of users in the Metaverse and in games.

The second layer Shibarium blockchain will work with SHIB, Leash and Bone tokens – the latter will be used to cover transactions and pay rewards to validators. 20 million bone coins worth $27 million have been reserved for these purposes. The developers suggest that their own network will help reduce fees – they will be lower than on the main Ethereum network. This can only be confirmed by the results of the testing of the new blockchain, which will start soon, although the exact date has not yet been announced.

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Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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