- First proposed in 2021, the revolutionary layer 2 solutions will be launched soon.
- ShibaSwap (BONE) will be acting as gas and rewarding validators.
- Their Twitter account gained massive followers as the launch nears.
The much-awaited Shibarium launch is nearing, and its official Twitter account has been gaining massive followers within months. At the time of writing, the account had 33,900 followers, which were only 24,200 on November 7, 2022.
Per team Shiba Inu, the Shibarium network will eventually become a social information hub, which will concern itself with everything related to the Shibarium layer 2 networks and protocol.
There are huge expectations in place concerning Shibarium, Shiba Inu’s Layer 2 solution and the massive increase in followers adds to the hype.
Lead developers of Shiba Inu Shytoshi Kusama tweeted this week about his meeting with Unification, the builders of Shibarium.
Kusama wrote about Shibarium as
“Aligning Onboarding Finalizing. Soon Very Soon.”
SHIB BPP, a Shiba Inu- focused Twitter account, shared screenshots of Discord messages from Shytoshi Kusuma and SHIB developer SHIB Trophias.
Kusuma was saying in the screenshots that he was “putting a nice bow on it.” which many people assumed to be a reference to Shibarium. SHIB Trophias further commented that there will be “docs, then beta.”
Although no particular date is yet set when Shibarium will be available to the public, its beta testing phase could appear soon. The price of BONE ShibaSwap (BONE) is seen reacting amid all the news and hype surrounding the news of the imminent Shibarium beta release.
BONE is currency trading at $0.9116 with a jump of 4.83%, its market cap is at $148 million with a rise of 5.65%, and volume was up by 11.87% and is at $3 million in the past 24 hours. Its rank remains at 131, with 0.02% market dominance. The current rate is 97.80%, down from its all-time high of $41.67 achieved on September 13, 2021, and is up by 216.30% of its all-time low of $0.2899 it hit on May 12, 2022.
BONE will be serving as gas for Shibarium Layer 2 also would be used to reward the validators. Kusuma had indicated that the much-anticipated Shibarium, a Layer 2 solution, would come very soon, but not during the holidays.
What Exactly is Shibarium?
Anonymous Shiba Inu creator Ryoshi in May 2021, proposed a layer 2 solution. A framework that will be built on Ethereum and allows it to benefit from the network’s underlying security and infrastructure.
But being an L2 solution, it ought to be faster and offer lower transaction fees compared to current rates.
Shibarium could be a reason for the next cryptocurrency explosion in 2023.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/01/03/shib-to-launch-shibarium-the-l2-solution-could-explode-cryptocurrency-in-2023/