Shiba Inu developers have made public documentation for Shibarium beta, a blockchain layer-2 solution for the Shiba ecosystem. The objective is to provide a cost-effective blockchain solution for the Shiba ecosystem, and it is expected to reduce transaction fees for those involved in the Shiba Inu experiment.
Shibarium was first proposed by Ryoshi, the creator of Shiba Inu, who believed that a community must have a low-cost blockchain solution for true decentralization. He stated that Shibarium’s transaction fees would be minimal or zero, enabling seconds for less than pennies turnaround time for transactions.
Shibarium’s layer-2 solution is designed to provide people, developers, and businesses with faster transaction speed and lower fees than blockchains.
It also serves as a foundation for developing 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.
Benefits Of Using Shiba Inu’s Shibarium
One of the main benefits of using Shibarium is security, as it is a highly secure and tamper-proof platform that can store and transmit sensitive data. To secure the blockchain, a proof-of-stake algorithm requires users to stake their BONE tokens from the Shiba Inu Ecosystem to participate in the network.
This method ensures that validators have a stake in the blockchain’s success, thereby bolstering its security. Moreover, a network of nodes also provides the safety of the blockchain by validating transactions and keeping the blockchain updated.
Another advantage of Shibarium is that it is a transparent platform that allows users to track all transactions and activities. It is also a faster and more efficient platform that processes transactions quickly and easily. In addition, people and businesses can save money on transaction fees by using Shibarium, making it a cost-effective platform.
Shibarium’s PoS (Proof-of-Stake) chain utilizes side chains to process transactions, resulting in unparalleled transaction speed and cost efficiency. PoS also guarantees asset security by employing the reliable Plasma bridge framework and a decentralized network of PoS validators.
The platform is fully EVM compatible, allowing smart contracts to be deployed directly on it, and it is easy to transfer tokens between Shibarium and Ethereum.
Nevertheless, Shibarium is designed to be compatible with major ERC standards, ensuring seamless integration. It has been built to scale and adjust to the requirements of any organization, product, platform, project, community, or token.
The platform maintains the security features of Ethereum while substantially enhancing the blockchain’s speed, making it an exciting development for the Shiba Inu community.
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