Shiba Inu announces launch of Shibarium Public Beta this week
- Shiba Inu has announced that the Shibarium public beta platform will be launched this week
- Shiba Inu wallet, community-driven ecosystem, and SHIB-related marketplace are three key features driving adoption
Shiba Inu has announced the launch of its Shibarium public beta platform. The platform made the announcement on Twitter, with the same claiming that the beta website will be launched sometime this week.
The platform aims to be a Layer-2 solution that will provide the SHIB community with a variety of benefits such as faster and cheaper transactions, increased scalability, and enhanced security. The Shibarium team spent months developing and testing before releasing the public beta.
Here, it should be noted that the beta version of Shibarium is only for testing purposes and should not be used for commercial transactions. The team has also cautioned users to be wary of scammers who may attempt to take advantage of the public beta’s launch.
The SHIB community is ecstatic about the public beta launch, which they see as a significant step forward for the project. Shibarium’s release is expected to increase SHIB adoption and cement its position as a major cryptocurrency.
Shibarium is built to enable developers to create fast, low-cost, and highly scalable applications. It will also spawn a new ecosystem of custom tokens that can be traded for gas using Bone ShibaSwap (BONE).
The impending launch contributed to a significant hike in the price of BONE. The token was trading at $1.72 at press time, following a hike of 11% over the last 24 hours.
Shiba Inu adoption to go up?
There are thousands of projects that are being built on the Shibarium protocol such as Metaverse, NFTs, Welly Programme etc.
The Shiba Inu Metaverse is especially intriguing because it will provide a new use case for the SHIB token. Users with virtual land plots will be able to rename them for a fee paid in Shiba Inu tokens, which will be burned to help reduce the massive supply.
Within the Shiba Inu ecosystem, the new network will allow developers to create custom tokens. It is also expected to significantly increase transaction speeds and reduce gas costs.
“It’ll allow us to grow Shibarium’s reach with professional companies, and allow us to reset our relationships with businesses that we’ve connected to in the past. Finally, it’ll help us find the right validators,” posted lead developer Shytoshi Kusama in a blog last month.