The past few months have been nothing short of remarkable for the self-proclaimed “Dogecoin killer” token. Shiba Inu’s community and ecosystem have continued to grow. So what Is next for Shiba Inu? The answer is the Shibarium blockchain.
The meme coin’s ecosystem has undergone exponential growth ever since its launch. The most recent new thing in the token’s ecosystem has been the launch of the Shiboshi NFTs. Shiba Inu released the NFTs on October 14, and they sold out just 35 minutes after their release, which the project Lead Shytoshi Kusama tweeted about.
Shiba Inu’s objective with developing and releasing the NFTs is to form a SHIB-based NFT game eventually. This game is dubbed the Oshiverse. The next step in the expansion of the Shiba Inu ecosystem is Shiba Inu’s own blockchain, the Shibarium blockchain.
What is Shibarium Blockchain, and What Will It Do?
To put it quite plainly, Shibarium is Shiba Inu’s own blockchain. The blockchain which will host SHIB as its native token will be a layer-2 solution. In October, Shytoshi Kusama shared that the Shibarium blockchain was in the works.
The Shibarium blockchain was first proposed by Shiba Inu’s creator, Ryoshi. Ryoshi initially used the term blockchain; however, Shibarium will be an L2. Being an L2 blockchain means Shibarium is a blockchain that will sit on an already existing Ethereum blockchain.
It is important to note that neither SHIB nor LEASH, which are currently high performers on ShibaSwap, will be the blockchain’s primary token. Ryoshi shared that the blockchain’s primary token will be BONE. The reasoning behind this was that the BONE token would have a fresh, fair, and ‘0’ start.
When ShibaSwp first launched, all LEASH and SHIB holders earned BONE. Consequently, there’s a high likely large number of BONE whales.
There’s little information available about the blockchain. However, what is known to the public is that Shibarium will have the primary goal of lowering transaction fees for users in the Shiba Inu ecosystem. The transaction fees are currently very high as SHIB is based on ETH, which has experienced very high gas fees.
The transaction fees, which are to be minimal, may even be zero. According to Sytoshi Kusama, the loe fees will be for every Shiba Inu “fee or service.” Kusama spoke on the low transaction fees while speaking to Shiba Discord.
Is There a Release Date for Shibarium?
Currently, there is no official release date for the blockchain. All we know is that it is still in the works. The Shiba Inu will carry out a lot of testing of the blockchain before it can be launched. However, the team shared that the blockchain’s launch would not take more than a year.
Shytoshi had shared that focus wouldn’t be on the L2 until after the release of the Shiboshis. Judging by this statement, the L2 is currently in the works. Shibarium is also set to launch before the launch of the full Shiba NFT platform. This will be done to ensure low transaction fees.