On August 17, Shiba Inu developers announced at the Blockchain Futurist Conference that its Ethereum-based L2 scaling solution Shibarium has been launched on the mainnet, focusing on the deployment and development of the metaverse and game applications.
What is Shiba Inu?
Shiba Inucoin ($SHIB), like Dogecoin, is a cryptocurrency created out of memes and was created in 2020 by an anonymous person named Ryoshi with a cohesive and strong community.
Even though Shiba Inu Coin has fallen 89% since its high in October 2021, the Shiba Inu development team is still committed to establishing a complete decentralized ecosystem, including DEX ShibaSwap, Metaverse on-chain games, and the native governance token $BONE and welfare token $LEASH.
Ethereum L2 Shibarium mainnet online
The Shiba Inu development team announced at the Blockchain Futurist Conference that its Ethereum-based L2 scaling solution Shibarium has been launched on the mainnet.
It is reported that Shibarium is built on the consensus mechanism of Delegated Proof of Stake (DPoS), aiming to interact with Ethereum L1 and realize a more scalable and low-cost secure trading platform, while expanding its metaverse and chain game ecology.
Shibarium explained in its official blog that the network uses the Heimdall validator based on the Tendermint consensus engine. Users must pledge 10,000 $BONE in Shibarium to become a validator and obtain $BONE as a verification reward; at the same time, Shiba Inu Both $SHIB and $LEASH in the ecosystem are applicable to Shibarium.
Previously, Shibarium’s testnet PUPPYNET was launched in March this year, attracting millions of active users and the creation of more than 21 million wallets in the five months to date.
According to photos from the venue, Shibarium currently has hundreds of encryption companies or development teams joining its ranks or using the network to build DApps.
Could Shibarium hold the same wealth opportunities as base?
From the bottom of the technology: This L2 does not use the current mainstream (ZKS or Op) expansion solution, but chooses the Plasma bridge solution. In addition, the chain itself adopts the POS consensus mechanism, so it is named "POP consensus"
This POS chain does not use Shib as the pledge token, but chooses the ecological token $BONE for pledge.
The popular Meme L2 is released for the first time, but the market is quiet. The latest news is that there are some problems with overloading, and the market is declining... The sentiment is very Down;
Here is the circulation principle of bridge transactions between two chains:
1. Ether cross-Shib: Ether chain locks assets, Shib chain casts assets
2. When Shib returns to ether, it is destroyed and then unlocked.
To put it simply, it is a cross-chain of non-native assets, but since Plasma guarantees a certain level of security, it doesn’t matter.
Referring to Arbitrum, BASE, every early stage of a new ecology contains some wealth opportunities. There is a very active flow of funds on the official data surface. As a celebrity Meme, it should attract more Meme to gather on the chain to form a "Pet Kingdom";
But I don’t know if the news of Musk cashing out and leaving the market has made the market a little depressed. If you have the energy, you can pay attention to the Meme changes above.
