• Shiba Inu has announced the launch of its Shibarium public beta platform this week.
• This platform will provide various benefits such as faster and cheaper transactions, increased scalability, and enhanced security.
• The release of Shibarium is expected to increase SHIB adoption, spawn a new ecosystem of custom tokens, and help reduce the massive supply of SHIB tokens.
Shiba Inu Announces Launch Of Shibarium Public Beta Platform
Shiba Inu has announced that the Shibarium public beta platform will be launched this week. This Layer-2 solution aims to provide the SHIB community with several benefits such as faster and cheaper transactions, increased scalability, and enhanced security. The team has cautioned users to be wary of scammers who may attempt to take advantage of the public beta’s launch.
Key Features Driving Adoption
The Shibarium platform consists of three key features driving adoption: Shiba Inu wallet, community-driven ecosystem, and SHIB-related marketplace. The wallet will enable users to store their funds securely while the community-driven ecosystem will allow developers to create fast, low-cost, and highly scalable applications. It is also expected to spawn a new ecosystem of custom tokens that can be traded for gas using Bone ShibaSwap (BONE).
Impact On Price Of BONE Token
The impending launch contributed to a significant hike in the price of BONE token which was trading at $1.72 at press time following a hike of 11% over the last 24 hours. Moreover, with virtual land plots available on Shiba Inu Metaverse users with be able to rename them for a fee paid in Shiba Inu tokens which will be burned to help reduce the massive supply.
Increased Transaction Speeds & Reduced Gas Costs
In addition to increasing SHIB adoption, Shibarium is also expected to significantly increase transaction speeds and reduce gas costs within its own network. Lead developer Shytoshi Kusama stated that “It’ll allow us to grow Shibarium’s reach with professional companies” when speaking about what impact it would have on existing relationships between businesses connected with it in past months before its release.“
Overall, this project looks very promising for both developers looking for an efficient way build their applications as well as investors hoping for an increase in SHIB adoption through increased use cases such as renaming virtual land plots on Shiba Inu Metaverse or trading custom tokens within its own network which should both result in further price appreciation of BONE token due reduced supply caused by burning system implemented by developers behind this protocol layer solution.