Developers of Shiba Inu’a layer 2 Shibarium published documentation outlining crucial details of the scaling solution, a few days back.
One Shib-focused community member Lucie has compiled some of the key aspects of the protocol particularly the Shibarium Staking Manager.
As previously underlined, Shibarium provides three types of security models for developers to build their DApp on.
One is Proof of Stake security, and the other two are Plasma security and Hybrid [Plasma + PoS].
Lucie wrote Shibarium handles all proof verification and staking activities on the Ethereum smart contract in order to secure Proof of Security consensus, letting L2 handle the computationally demanding tasks. Stakeholders that want to report fraud can act as a validator, delegates, or viewers.
The main contract for validator-related tasks including stake management, reward distribution, and signature verification is called StakeManager.
A single Ethereum address can only be allocated one duty by design, either validator or delegator. The system is protected from changes in ownership and signer by using NFT ID as the source of ownership.
Shibarium, touted to be the “Blockchain of Teh People”, serves as a base for the development of decentralized applications [DApps], including Shib – The Metaverse [Shib.io], Shiba Eternity, and various other products, projects, platforms, and services within the broader Shiba Inu community.
Besides processing “unparalleled transaction speed and cost efficiency”, an EVM-compatible PoS [Proof-of-Stake] chain’s cost per transaction is approximately 10,000 times lower than Ethereum’s one.
PoS also employs the reliable Plasma bridge framework and a decentralized network of PoS validators to ensure asset security.
Shiba Inu Doc Dispels FUD And Drama
To become a validator, one must stake BONE tokens utilizing staking management contracts that are present on the Ethereum mainnet. At every checkpoint, stakeholders received rewards in proportion to their stake, with the proposer receiving an additional bonus, the blog added.
Having said that, the disclosure of the documentation was well received, with some noting that information and the project advancement outweighed the FUD and drama.
As reported by TronWeekly, the Shiba Inu ecosystem was rocked by a scandal concerning the layer-2 protocol. The cause of contention was the Shibarium beta testnet sharing the same chain ID as an existing blockchain.
Developer Kaal Dhairya, later disclosed that a new version of the BETA network with a different chain ID will soon be launched.