Shiba Inu's Layer 2 Solution Shibarium to Launch Soon

Introduction to Shibarium's Launch

Shiba Inu is set to launch its Layer 2 blockchain, Shibarium, with a phased release beginning with a beta version. The primary objective is to lower Ethereum's gas fees, facilitating smoother daily transactions for users. Shibarium operates as a Layer 2 solution, meaning transactions occur off-chain, thus reducing bandwidth requirements, transaction costs, and enhancing speed.

Features and Benefits

Shibarium not only offers financial and time-saving benefits but also provides a versatile development framework. This allows the community to create unique blockchain designs. Potential applications for decentralized applications on Shibarium span gaming, social networking, education, and supply chain management. The platform is also compatible with Non-Fungible Tokens (NFTs), enabling the issuance of unique NFTs across different chains. These tokens can be used for digital real estate, artwork, and live event access.

Governance and Token Utilization

Central to Shibarium's ecosystem is the $BONE token, which serves as a governance tool. It is used for paying gas transactions and rewarding validators and delegators. As milestones are achieved, $BONE tokens are distributed to validators, who also receive a portion of the TREAT token. Validators charge a commission to cover node operation costs, with rewards distributed based on the $BONE tokens staked.

Recent Developments

Recent data indicates a significant increase in SHIB's burn rate, surging by 5,761%. This coincides with Shiba Inu surpassing Wrapped Bitcoin (WBTC) as the most traded digital asset among the top 100 Ethereum whales, highlighting its growing prominence in the crypto space.