Shiba Inu's development team has finally unveiled Shibarium, a specialized Ethereum layer-2 scaling solution, marking a significant growth phase for one of the most expansive decentralized communities in the crypto realm.
SHIB and the broader Shiba Inu ecosystem up until now have had their home on the Ethereum blockchain. With Shibarium, developers can create cost-effective protocols, broadening the ecosystem's reach and enhancing user experience.
This announcement was made during the Blockchain Futurist Conference/ETH Toronto.
What is Shibarium?
According to the Shiba Inu team, Shibarium will act as the foundational technology for the entire Shiba Inu ecosystem.
During its beta phase, it connected with over 21 million user wallets. Now, with the mainnet live, it's set to attract even more users who value decentralization, interoperability, and user-focused design in both blockchain and broader tech.
Shytoshi Kusama, the lead developer of Shiba Inu, emphasized the importance of community and decentralization. He stated that Shibarium stands out due to its strong adherence to these principles, setting it apart from many other technologies, including several blockchains.
Kusama also highlighted that comparing Shibarium to other layer-2 solutions might be misleading. In his words,
“If you consider even the best L2's to be a Ferrari engine, we just placed a Lamborghini engine into a Revuelto and handed the community the keys... The others are still in the shop with devs tweaking the cylinders”.
Shibarium promises faster transaction speeds with reduced gas fees, enhancing the user experience within the Shiba Inu ecosystem.
Previously, the Shiba Inu ecosystem was based on the Ethereum blockchain, which, despite its advantages, had issues like high gas fees and slower transactions.
With Shibarium, developers can create cost-effective protocols, broadening the ecosystem's reach and enhancing user experience.
It will support all facets of the Shiba Inu ecosystem, including various tokens, NFTs, the ShibaSwap DEX, the Shiba Eternity Game, and many upcoming major projects.
Decentralized Digital Identity
Additionally, Shiba Inu is emphasizing the importance of decentralized digital identity. They are prioritizing the integration of Self-Sovereign Identity (SSI), allowing users to maintain verified credentials, including physical identity documents like passports and driver's licenses, without third-party interference.