$SHIB: Shiba Inus Layer 2 Blockchain ‘Shibarium’ May Launch as Early as May 2023
Shytoshi Kusama, the pseudonymous lead developer of the Shiba Inu project, recently provided some information about the beta testing for Shibarium, a layer two blockchain designed to address the shortcomings of the $SHIB token’s host chain Ethereum, namely slow speed and high transaction costs.
Here’s what Binance Academy says about Shiba Inu ($SHIB):
“Shiba Inu (SHIB) is a dog-themed meme cryptocurrency named after a Japanese dog breed. It was created in 2020 by an anonymous developer named Ryoshi, who designed SHIB to be an alternative to Dogecoin (DOGE) on the Ethereum blockchain.
“SHIB is an ERC-20 token with a decentralized exchange called ShibaSwap. SHIB’s roadmap and ecosystem also features an NFT art incubator called Shiba Artist Incubator, 10,000 ‘Shiboshi’ NFTs and an NFT game Shiboshi Game.
“Shiba Inu had an initial circulating supply of 1 quadrillion tokens. Ryoshi locked 50% of the token in Uniswap to create liquidity and sent the other 50% to Ethereum co-founder Vitalik Buterin’s wallet. However, Vitalik decided to burn 90% of the coins and donate the remaining 10% to charity.“
Bone ShibaSwap ($BONE), according to the Shibarium team, is “the original token chosen to pay for gas transactions and reward validators and delegators within the Shibarium protocol.” And luckily for $SHIB HODLers, Shibarium burns $SHIB with every transaction, making $SHIB more scarce.
In a blog post published last Saturday (March 11), Kusama announced the launch of PUPPYNET, which the Shibarium team calls “the early beta test of the Shibarium Network.”
Kusama wrote:
“Shibarium is a layer 2 blockchain that allows anyone to build DAPPS, integrate into IRL businesses and run projects with it. It’s low-cost, Shib says in the process, and will be adjusted as the beta test continues over the next few months.“
Anyone can play with this early public beta of Shibarium by visiting a new website set up for this purpose.
Of course, it’s great that fans of the Shiba Inu project can now play with this beta version of Shibarium, because it lets them see, for example, how low gas taxes on Shibarium will be when it’s publicly launched:
However, a question that seems to be on the minds of many people in the SHIB community is when this beta testing period will end so that they can use the “real” Shibarium.
Well, according to the following tweet by “LUCIE”, a prominent member of the SHIB community who appears to be in close contact with Kusama, last Thursday (March 9), she was told by Kusama that he estimates the beta period will last for two months, but it can take as long as four months:
Currently (as of 9:35 UTC March 14), $SHIB and $BONE are trading at around $0.00001092 (+2.9%) and $1.47 (-0.8%) respectively.
