1. BITBILIHome
  2. Article

Shibarium goes live: Shiba Inu’s layer-2 solution ready for action

• 21 views

TL;DR Breakdown

  • Shytoshi Kusama announced the official launch of Shibarium, a layer-2 scaling solution for the Shiba Inu blockchain.
  • Even before its official announcement, Shibarium had over 65,000 wallets and processed 350,000 transactions.
  • Shibarium has a specific token withdrawal process, with varying clearance times, ensuring security.

Description

Shytoshi Kusama, the lead developer of Shiba Inu, recently announced that Shibarium, the layer-2 scaling solution for the Shiba Inu blockchain, is officially live and “ready for prime time.” This announcement marks a significant milestone in the Shiba Inu ecosystem, as Shibarium aims to address scalability issues and enhance the overall user experience. Kusama acknowledged … Read more

Shytoshi Kusama, the lead developer of Shiba Inu, recently announced that Shibarium, the layer-2 scaling solution for the Shiba Inu blockchain, is officially live and “ready for prime time.” This announcement marks a significant milestone in the Shiba Inu ecosystem, as Shibarium aims to address scalability issues and enhance the overall user experience.

Kusama acknowledged the Polygon team’s and other collaborators’ contributions in bringing Shibarium to fruition. The decision to fork Polygon for this layer-2 solution was described as the “correct one,” highlighting the importance of strategic partnerships in the fast-paced world of blockchain technology.

Before the official announcement, Shibarium had already garnered significant attention, amassing over 65,000 wallets and processing more than 350,000 transactions. The platform has also seen diverse tokens deployed, from fun and quirky to downright offensive, indicating a vibrant and active community.

The journey to Shibarium’s launch was challenging. Earlier in the month, the platform faced technical glitches, including its mainnet RPC going offline and a considerable amount of Ethereum allegedly being locked on its cross-chain bridge. These issues led to a temporary dip in Shiba Inu’s market value. However, the team has proactively addressed these challenges, optimizing the platform for better performance.

Shibarium has implemented a structured withdrawal process for different tokens. The system is designed to require varying time frames for withdrawals to clear, ranging from 45 minutes to 3 hours for most tokens. For the BONE token, the time could extend up to 7 days, adding an extra layer of security.

Shytoshi Kusama has been vocal against the “fear, uncertainty, and doubt” (FUD) that has occasionally plagued the Shiba Inu community. He urges the community to focus on long-term objectives rather than getting swayed by short-term market fluctuations.

Shibarium’s launch marks a pivotal moment for the Shiba Inu ecosystem. With its layer-2 scaling solution now live, the platform is poised for significant growth and adoption. While challenges remain, the team’s proactive approach and the community’s unwavering support suggest a promising future for Shibarium and Shiba Inu.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Shibarium goes live: Shiba Inu’s layer-2 solution ready for action

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月28日 18:07
Next 2023年8月28日 19:02

Related articles

  • BRICS common currency will be a major threat to USD

    TL;DR Breakdown BRICS nations, responsible for one-third of the world’s economic output, are considering a shared currency to challenge the U.S. dollar’s dominance in global trade. The discussion of a common currency will be a key agenda point at the upcoming BRICS summit in Johannesburg. This initiative is seen as a step towards fairer and more accessible international trade. Despite the complexities of introducing a common currency, there’s a focus on developing a unit specifically for settling cross-border trade, which reduces the difficulty and increases its feasibility. In the dynamic world of international finance, a potential seismic shift is on the horizon. A possible joint endeavor by BRICS nations to introduce a common currency could disrupt the longstanding dominion of the U.S. dollar in global trade. The BRICS nations, comprising Brazil, Russia, India, China, and South Africa, generate a collective one-third of global economic output, even outpacing the G7 economies in some respects. BRICS: Challenging the dollar’s dominance A critical agenda point during the upcoming BRICS summit in Johannesburg this August is the discussion of this shared currency idea. This…

    Article 2023年5月21日

  • Sequoia Capital slashes cryptocurrency fund by over 65% amid market decline

    TL;DR Breakdown Sequoia Capital reduces its cryptocurrency fund from $585 million to $200 million. The ecosystem fund also cut from $900 million to $450 million amidst market challenges. Strategic shift focuses on investing in younger startups over established businesses. Description Sequoia Capital, the prominent venture capital firm, has significantly reduced its cryptocurrency investment fund. Citing anonymous sources, the once $585 million crypto-focused fund has now been downsized to $200 million. Simultaneously, Sequoia has cut down its ecosystem fund, originally valued at $900 million, to $450 million. These measures come as the company seeks to adapt … Read more Sequoia Capital, the prominent venture capital firm, has significantly reduced its cryptocurrency investment fund. Citing anonymous sources, the once $585 million crypto-focused fund has now been downsized to $200 million. Simultaneously, Sequoia has cut down its ecosystem fund, originally valued at $900 million, to $450 million. These measures come as the company seeks to adapt to the prevailing market circumstances, which have witnessed sustained declines. The decision to downsize the cryptocurrency investment fund was reportedly driven by a strategic shift in the…

    Article 2023年7月28日

  • Bitmain’s upcoming ASIC miner sparks frenzy

    TL;DR Breakdown Bitmain’s latest update on its ASIC miner has sparked a lot of discussion in the Monero community. Community reaction and discussions on ASIC resistance. Description Cryptocurrency mining rig manufacturer Bitmain has announced its upcoming release of a specialized machine designed for mining the digital currency Monero (XMR). The newly unveiled mining rig, named the Antminer X5, touts an impressive hashrate of 212 kilohash per second (KH/s). Bitmain claims that this rig is the first of its kind, marking it as … Read more Cryptocurrency mining rig manufacturer Bitmain has announced its upcoming release of a specialized machine designed for mining the digital currency Monero (XMR). The newly unveiled mining rig, named the Antminer X5, touts an impressive hashrate of 212 kilohash per second (KH/s). Bitmain claims that this rig is the first of its kind, marking it as a “professional XMR miner.” Bitmain teases new first-of-its-kind features Bitmain has revealed that the sales for the Antminer X5 will commence on September 4. While the exact price of the rig remains undisclosed, Bitmain has involved its social media followers…

    Article 2023年8月29日

  • Morocco officially submits application to join BRICS

    TL;DR Breakdown Morocco has officially applied to join the BRICS economic alliance. The upcoming BRICS summit will discuss expansion criteria, but won’t confirm new members. Morocco’s bid highlights its ambition to be a key player in the global south. Description As the global economic stage buzzes with anticipation for the upcoming BRICS summit, Morocco has strategically positioned itself by tossing its hat into the ring. Eager to align with powerhouses like Brazil, Russia, India, China, and South Africa, the North African nation has formally expressed its interest to join the expanding economic alliance. But, as … Read more As the global economic stage buzzes with anticipation for the upcoming BRICS summit, Morocco has strategically positioned itself by tossing its hat into the ring. Eager to align with powerhouses like Brazil, Russia, India, China, and South Africa, the North African nation has formally expressed its interest to join the expanding economic alliance. But, as with every strategic move on the geopolitical chessboard, there are layers of motives, opportunities, and challenges awaiting to unfold. A Power Move in the Global South Morocco’s…

    Article 2023年8月16日

  • Uniswap price analysis: Bearish sentiment causes a regression in price to $5.28

    TL;DR Breakdown Uniswap price analysis shows a bearish trend. The price has decreased up to $5.28. Support for cryptocurrency is present at $5.19. The Uniswap price analysis shows that bears have struggled to maintain dominance, resulting in a low price trend over the past two days. After peaking at $5.33, selling pressure emerged, leading to a downtrend. Today, the price declined to $5.28 as bears regained strength. This decline has had a negative impact on the coin’s overall value, delaying any potential recovery. The expectation is for a further decline in the upcoming hours. UNI/USD 1-day price chart: The price took a recent hit, leading to a decrease to $5.28  According to the one-day Uniswap price analysis, today’s trend indicates a downward movement as the price has reached $5.28. The price has been gradually falling over the past few days, although there were some intermittent bullish periods observed yesterday. Within the last 24 hours, the bears gained an advantage and successfully brought the price down to $5.28. It is important to note that the price is still above the moving…

    Article 2023年5月21日
TOP