Shiba Inu devs to launch Shibarium L2 network beta
The developers of the dog-themed token Shiba Inu posted an update to inform its community about its upcoming beta release of Shibarium a layer 2 network that will run on top of the Ethereum Mainnet.
SHIB developers shared information about Laye 2 blockchain and highlighted that Shibarium is being built to provide a tool to allow the community to build and grow the project and fulfill to provide a tool to allow the community to build and grow the project fulfill its founder's vision. while some believe that the creation of Shibarium is a way to increase the meme token's price the developers express that this wasn't the goal.
According to Developers:
"Patience is key and some see Shibarium as a price pumping tool but that is not the projects focus and never has been"
Also, developers mentioned that the goal of the new update in its infrastructure is to revolutionize the Shiba ecosystem by removing barriers to entry for small transactions and upgrading the speed allowing the development of decentralized applications and integration NFT.
In this project, the most-requested feature is a burning mechanism for SHIB. According to developers "all transactions on the network will have an implicit burn amount for $SHIB token" this mechanism will occur whenever a transaction is made within the network.
While the developers did not give an exact date for the release the team reiterated that their answer to all questions relating to the time frame is soon.
Members of the Shiba Inu community express that the new development few believe that there are many things to look forward to in the ecosystem's future while others are just glad to read a new update on the project.
Introduction to Shibarium: Shiba Inu's Layer 2 Network — Rejoice #ShibArmy! Shibarium Beta is about to be launched, and through this article we want to introduce some basic concepts in order to provide clarity to the community.— Shib (@Shibtoken) January 15, 2023
Read more: https://t.co/xWyPaVlQQ4
According to Shytoshi Kusama a SHIB developer express on social media that the World Economic Forum (WEF) invited the project to partner on creating a global policy on the metaverse.
The developer highlighted that if it comes to fruition the project will work with other tech giants like Facebook and Decentraland in helping the WEF develop the policy.