Shibarium 101: Understanding Shiba Inu’s Layer 2 Network
This article aims to introduce the basic concepts of Shibarium, whose beta is set to launch soon. We aim to increase understanding about Shibarium among the community
What is Shibarium?
Shibarium is a powerful Layer 2 blockchain that aims to become a transitional evolution to the Shiba Ecosystem. Its Layer 2 is a collective blockchain that scales and invites solutions, innovation, and security to the Decentralized Finance (DeFi) space. This blockchain runs on top of the Ethereum blockchain, which the SHIB ecosystem tokens (SHIB, LEASH, & BONE) utilize.
Layer 2 blockchain provides the benefits of scalability, faster transaction times, lower fees, and an expanded development framework. This is especially important as blockchain technology is starting to become more mainstream. However, some of the biggest obstacles to mainstream adoption are the cost and speed of transactions.
Shibarium’s Layer 2 blockchain protocols can serve different industry areas such as metaverse, web3 innovation, and gaming. This is primarily due to the commonality of scalability and performance limitations of current existing blockchain networks. As a protocol, Shibarium works on top of existing blockchain networks, allowing for faster, cheaper, and more private transactions to be processed off-chain, while still relying on the security of the underlying blockchain.
This can help to reduce the load on the blockchain network and improve the user experience for metaverse and gaming applications. Combined, web3 and Shibarium’s Layer 2 blockchain technology can enable a new decentralized metaverse and gaming ecosystem where players can interact and transact in a decentralized way and where players can own, buy, and sell the digital assets they acquire.
Shibarium to Revolutionize the Shiba Ecosystem and the Cryptocurrency Space with its Layer 2 Blockchain Technology
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