What is ShibaNet? Complete Details About Shiba Inu’s Upcoming Decentralized Marketplace Revealed

Vinod Dsouza
ShibaNet to be a decentralized marketplace that allows users to buy, sell and trade goods using the in-house Shiba Inu ecosystem.

The Shiba Inu ecosystem is growing bigger by the day as each month a new development is taking place. Among all the developments, ShibaNet would be a major game-changer to the token’s prospects in the coming future. SHIB founder Ryoshi’s vision and foresight in making the token head towards the right direction and is achieving it.

Among all the meme-currencies out in the market, Shiba Inu is adding real-world use-cases into its bag. The development is making the token stand at the crossroads of opportunity and would comfortably sit at a better position next year. SHIB would reward early investors handsomely with a fistful of dollars when its price propels further post the developments are released.

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What Is ShibaNet? Complete Details About Shiba Inu’s Project Revealed

The new and upcoming ShibaNet is a much-awaited development in the crypto world. ShibaNet is a decentralized marketplace that allows users to buy, sell, and trade goods using the in-house Shiba Inu ecosystem. Shytoshi Kusama, the project lead of SHIB spoke about ShibaNet in his Medium blog in July 2021.

Kusama titled the blog ‘Shiba Inu Phase 2‘. He writes, “A financial institution is only good as the consumers and businesses that utilize their financial instruments.” He also used a quote from Miyamoto Musashi at the start of his blog. “You must understand that there is more than one path to the top of the mountain,”.

Firstly, the best thing about ShibaNet is that it will run on the Shibarium Layer-2. Secondly, it allows users to skip the high Ethereum gas fees that are currently plaguing the cryptocurrency payments sector. Thirdly, this is just the surface of ShibaNet and the team did not reveal complete details about it.

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In conclusion, the upcoming developments will make Shiba Inu a stable coin in the market and reward investors with better returns. While the complete specifics about ShibaNet are not out, Kusama did give us a hint on how it will work.

“I am particularly proud of the ability to split residual or royalty payments between parties whenever a contract is activated. This reduces the need for multiple hours of contract work in industries that are otherwise ridden with shady contracts and deals where artists and sub-contractors rarely see their residuals,” he wrote.

At the time of publishing, Shiba Inu is trading at $0.00003760 and is up +5.05% in the day’s trade. The meme-token was up +900% in October and is sending mixed signals in December.