• SHIB Layer 2 Shibarium Project TestNet Is Nearing Completion; This Is How Far It Has Progressed

  • Unification Foundation, a developer of blockchain solutions for organizations, said in a recent Medium blog post that a public testnet of Shibarium, a Layer 2 scaling solution for the Shiba Inu cryptocurrency, will launch within the next few months, with a public beta following soon after.

    It goes on to say that there is now a lot of hard work going on behind the scenes, with many moving parts, as the Unification team continues to play an important role in the growth of the Shibarium network.

    According to the blockchain solution provider, it is now implementing Shibarium’s second private Alpha TestNet, which will be utilized for network testing as well as the creation of all end-user engagement tools such as wallets and block explorers, token transfer bridges, and so on.

    After these have been created and implemented, some private invites will be extended to trusted testers. Before releasing a public Beta TestNet, the feedback will be used to improve and expand the network and technologies.

    Shiba Inu suffers from high gas fees because it is an ERC-20 token built on top of the Ethereum blockchain, making it costly for many beginners. This is why many people believe Shibarium will be a game changer for one of the main canine coins, as transactions might become considerably faster and cheaper. As a result, Shiba Inu will be game-ready.

    Shiba Inu developers also intend to create SHI, an algorithmic stablecoin that will work on both Ethereum and Shibarium.

    Shiba Inu teases a year full of surprises with new implementations like Layer 2 Shibarium and SHI, the Shiba Ecosystem stablecoin, by revealing the details of its much-talked-about Metaverse project, termed “SHIB: The Metaverse.”

    Recent upgrades also show that the SHIB burn portal is nearing completion. Shiba Inu said earlier this year that it is preparing to launch its own “burn gateway,” through which SHIB tokens will be burned and removed from circulation on a daily basis. The development will increase market demand while creating scarcity, laying the stage for long-term price increases.

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