Shiba Inu (SHIB) is a meme token which began as a fun currency and has now transformed into a decentralized ecosystem.
The popular doggy cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. is working to have its own scaling solution on top of Ethereum.
The developers of the memecoin memecoins are the crypto tokens created as a joke or meme and claim to offer huge gains to holders. strict Shiba Inu (SHIB) are discussing plans to launch a second-layer (Layer 2) scalability solution called ‘Layer 2’. Shibarium ‘. This was revealed by some users on Twitter.
Eric M, the developer of ShibaSwap SHIB’s decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. exchange (DEX), commented on the project in a chat on Discord discord is a web-based communication tool or application primarily built to enable communication between gamers. according to screenshots shared by community members on social media. In the conversation, the developer hinted that they are working on the proposal and offered clues. about your progress, stating that Shibarium will be launched ” pronto “.
While talks appear to be in early stages, community members have expressed interest in the project. The developers, for their part, offered few details about the proposal, nor did they provide an exact release timeline. In fact, it’s quite possible that they won’t reveal a precise launch date for the solution. In the messaging group, the developers hinted that providing a timeline would not guarantee success.
Those who trusted the project before the [ShibaSwap] exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. succeeded after the exchange […] You don’t need a timeline when you trust a trust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary. a project. This is how Shib has worked up to now and will continue to do so. .
— Camila Rocha (@Camila_Rocha) December 19, 2021
Shibarium: a second layer solution for Shiba Inu
Shiba Inu is an ERC-20 tokens designed and used solely on the Ethereum platform. token, based on the Ethereum a decentralized open-source blockchain with smart contracts functionality. which often faces the problems of high fees and congestion on that network. A Layer 2 scalability solution could potentially solve some of these difficulties by providing users with better transaction rates for SHIB.
Scalability solutions seek to enable a greater number of transactions per second and faster processing times. This can provide greater capacity to a blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. without the need to increase block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. size or introduce other upgrades to the core network. Ethereum already has a number of second layer solutions such as Optimism y Arbitrum.
As such, the creation of a Layer 2 solution for Shiba Inu was initially proposed by the creator of Shiba Inu Ryoshi, in May; prior to the launch of DEX. The proposal, which was detailed in a blog entry indicates that Shibarium will be built on the network a network refers to all nodes in the operation of a blockchain at any given moment in time. Ethereum and will not host SHIB or LEASH like token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. native, but rather BONE. (All three of them are tokens make up the ecosystem of Shiba inu).
“ The Shiba L2 (Shibarium) will actually use BONE as the primary pair trade between one cryptocurrency and another, for example, the trading pair BTC/ETH. token (we think.) The reason we are using this instead of Shiba is that BONE will have a fair and “0” start where we won’t have to worry about excess ‘whale bags’. ‘”, the entry reads.
In the most recent talks, the memecoin developers stressed that the second layer could be launched without the need to wait for Ethereum 2.0 the long-awaited update that will see Ethereum abandon its current proof-of-work poW is a type of consensus algorithm that rewards validators according to the amount of computational power they have expended. (PoW) mechanism for a proof-of-participation (PoS) mechanism.
A metaverse for SHIB ?
The deployment of a scalability solution for Shiba Inu seems important amid plans to expand the meme currency’s ecosystem. In October, the SHIB community saw the arrival of the first collection of tokens Non-Fungible (NFT) of SHIB, known as theShiboshisand more recently there have been rumors of building a metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users. for the doggy token, the “Oshiverse”.
The plans appear to be part of a broader expansion and growth strategy that SHIB team members have been focusing on this year, following the launch of DEX. In an earlier blog post, Ryoshi had revealed:
We are working on many aspects of Shiba Inu, including Shibarium, Shi, Shibanet, The Shiboshi Decentralized Game, Incubator and many more that will not become apparent until the near future.
Meanwhile, development news coincides with a new record number of SHIB users. According to a report from U.Today According to data fromWhaleStats. Of this group, 1,000 of the largest wallets of Ethereum popularly known as “ballenas“contain almost 48 billion tokens SHIB, this is almost 9% of the circulating supply of memecoin.
By the time of editing, SHIB is the fourteenth largest cryptocurrency on the market, with a market an area or arena, online or offline, in which commercial dealings are conducted. cap of USD $15.9 billion, while its stands at USD $0.000029, down slightly by 7% in the last 24 hours.
- Shiba Inu lands in Spain after being listed by exchange Bit2Me
- Two doggy crypto are listed on Unocoin, India’s leading exchange: Shiba Inu and Dogecoin
- BitPay bitPay is a Bitcoin payment service provider. adopts Shiba Inu puppy token amid whale a term used to describe investors who have uncommonly large amounts of crypto, especially those with enough funds to manipulate the market. stockpile
Article by Hannah Estefania Perez / DiarioBitcoin
Imagen de Unsplash