shiba inu‘s lead developer, Shytoshi Kusama, announced that the Shibarium beta test is now live. Introducing the beta test, the developer said that the first beta test of Shibarium Network will be called ‘Puppynet’.
This development had been anticipated for a long time, and eventually the announcement sparked excitement within the Shiba Inu community. Kusama reiterated that Shibarium is designed as a layer 2 blockchain that allows building Decentralized Applications (DApps). However, he once again confirmed that SHIB tokens will be burned during transactions.
Kusama made the announcement in a blog post:
“Well, today we are starting the EARLY Beta Testing of the Shibarium Network, which we call PUPPYNET!”
A link to Puppynet’s official RPC site was also shared. In addition, Kusama warned once again that the products in Shibarium so far are for testing purposes only.
“Not all tokens on Puppynet are real”
Koinfinans.com As we reported, Shibarium will provide greater scalability, helping to bring lower gas fees and increase transaction speed for Shiba Inu ecosystem projects. This is why the meme has an important place in the coin ecosystem. Another major benefit of the update is the potential to burn a large amount of Shiba Inu.
Kusama expects Shibarium to further benefit the Shiba Inu ecosystem by attracting investment and supporting adoption.
This development could have pushed up the price of SHIB or BONE under normal circumstances. But no clear effect has yet been seen. This is probably due to market volatility after the collapse of Silicon Valley Bank.
You can check the price movements here.