ShibaSwap developer Eric M said he expects Shiba Inu’s layer-2 scaling solution, Shibarium, to go live “soon.”
In a recent comment on a Shiba Inu-focused Discord server, ShibaSwap developer Eric M gave a veiled update on current Shibarium progress, claiming that Shibarium will be available “soon.”
However, the anonymous developer did not give a concrete timeline or date for the release of the much-anticipated layer-2 scaling solution.
“… When you trust a project, there is no need for a timeline. This is how the Shib has worked so far and will continue to be so.”
🤫 #SHIBARIUM #SHIB pic.twitter.com/VTAOyK59m8
— Camila Rocha (@Camila_Rocha) December 19, 2021
Eric M also stated earlier this month that the team would not have to wait for the release of Ethereum 2.0, the largest proof-of-stake upgrade to the second largest blockchain, before launching Shibarium.
Shiba Inu’s layer-2 solution was announced in a lengthy Medium blog post by Ryoshi, the anonymous creator of this year’s top-performing cryptocurrency.
To avoid whale concentration, the management token of the ShibaSwap decentralized exchange Bone ShibaSwap (BONE)will act as the platform’s primary cryptocurrency, replacing SHIB.
In the aforementioned blog post, Ryoshi emphasized that Shibarium needs to decentralize properly to make sure there isn’t a single point of failure.
Since Shiba Inu is an ERC-20 token running on top of the Ethereum blockchain, it also suffers from high fees.
Reducing the cost of transactions is therefore critical to the cryptocurrency’s expanding ecosystem of gaming and non-fungiable tokens. Therefore, 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. The anonymous developer made the following comments about it:
“We are 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 until the near future.
While these improvements have yet to materialize, the Shiba Inu remains the 13th largest cryptocurrency by market cap.
Besides, Shib has been in the middle of a listing frenzy since last month. Last week, Bitstamp confirmed that it will launch Shiba Inu trading in early 2022.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.