Shiba Inu Immediately Launches Shibarium, Good News For The Shib Army, Here!

Shibarium Shiba Inu will be launched this year. (Bitcoininst)

JAKARTA - Unifaction Foundation, a blockchain company, announced that a testnet version of Shibarium Shiba Inu will be launched this year. However, the schedule has not yet been determined. The company announced via Medium.

The Unifaction Foundation said that Layer 2, a blockchain-like technology, Shibarium will soon be tested. Although the Shibarium that will be tested is the testnet version, this is good news for the Shiba Army (the Shiba Inu token fan community).

“We are still continuing the development of Shibarium, a Layer 2 technology in our partnership with the Shiba Army. This allows for fast, low-cost transactions that are optimized for gaming. Although the scale of the project is not yet possible to release a definite schedule, the second version of the Shibarium private testnet is already live,” the Unification Foundation Twitter account wrote on February 6.

A blockchain developer with the pseudonym “Eric” at Discord tries to convince the public that the technology for crypto transactions will be trialled on a private scale in the near future. This was not long after Ryoshi, the developer of Shiba Inu, noted that Shibarium was being developed further according to the road map.

Then, What Is Shibarium Shiba Inu?

Shibarium is the name of a blockchain-like transaction system that sits on top of the Ethereum blockchain. This technology is referred to as Layer 2 which allows transactions not directly using the Layer 1 blockchain, namely the Ethereum blockchain. So, the transaction process is carried out in layers. First, transactions are held at Layer 2 then, with final settlements recorded at Layer 1 permanently.

For information, this technology began to bloom since the last two years. This is similar to the Lightning Network protocol that is used integrated with the Bitcoin and Litecoin blockchains. The goal is to speed up transactions at a lower cost compared to using the Ethereum network directly.

The native token used in Shibarium is not SHIB as expected, but another token which is BONE. Ryoshi explained, SHIB is not used as a native token, so there is no concentration of SHIB ownership.

The BONE token is ShibaSwap's native governance token, a decentralized exchange (DEX) that was launched last year. BONE is used within the DEX to facilitate liquidity, staking, and swapping, which complement the SHIB token. BONE holders can participate in governance to decide how the platform functions.