In a recent comment to a Shiba Inu-focused Discord server, ShibaSwap developer Eric M spoke about the current Shibarium progress and claimed it’s coming ‘soon’.
Shiba Inu enters metaverse ecosystem
However, the anonymous developer did not give a concrete timeline for the launch of the much anticipated layer-2 scaling solution.
Eric M said earlier this month that the team will not have to wait for the release of Ethereum 2.0, the largest Proof of Stake (PoS) upgrade of the leading altcoin project, to launch Shibarium. Ryoshi, the anonymous creator of this year’s top-performing cryptocurrency, announced Shiba Inu’s tier 2 solution in a lengthy Medium blog post.
Bone ShibaSwap (BONE), the management token of the ShibaSwap decentralized exchange, will act as the platform’s primary cryptocurrency instead of SHIB to avoid whale concentration. In the aforementioned blog post, Ryoshi emphasized that Shibarium needs to be decently decentralized to ensure that there is not a single point of failure.
Since Shiba Inu is an ERC-20 token running on the Ethereum Blockchain, it also suffers from high fees. Reducing the cost of transactions is critically important to the cryptocurrency’s expanding ecosystem of gaming and Non Fungible Tokens (NFTs). That’s why crypto analyst Alex Dovbnya comments:
The upcoming launch of Shibarium is considered one of the biggest catalysts for the cryptocurrency.
Ryoshi and core developers are also working on the Shiba Inu’s entry into the metaverse ecosystem. About the work, the anonymous developer shared the following information:
We’re working on many aspects of the Shiba Inu, including Shibarium, Shi, Shibanet, The Decentralized Shiboshi Game, Incubator, and many more that won’t be revealed in the near future.
Shiba Inu remains the 13th largest cryptocurrency by market cap. cryptocoin.com As we reported, earlier this week Bitstamp confirmed that it will launch SHIB transactions in early 2022.
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