Testnet of Shiba Inu’s Layer 2 Solution Will Be Launched Soon
Unification Foundation, a provider of blockchain solutions for enterprises, has announced in a Medium blog spot that the second version of Shibarium’s private testnet is live.
Shibarium is a layer-2 solution first proposed by Ryoshi, the creator of Shiba Inu Coin. Once it launches, SHIB tokens will be migrated to Shibarium.
“In addition to the extensive Network, Protocol & new partnership developments discussed above, Unification foundation is proud to continue development of Shibarium, the next prominent L2 in partnership with the Shib Army, enabling rapid low cost transactions optimised for gaming.”
“While the scale of the project doesn’t allow a definitive timeline to be released as of yet, the second version of Shibarium’s private testnet is live and under optimisation across both teams with plans of a public testnet release to come very soon,” they added.
Shiba Inu is an ERC-20 token built on top of the Ethereum blockchain, which has high gas prices that many beginners cannot pay. This is why many people believe Shibarium will be a game changer, since transactions would possibly become lot faster and cheaper.
Ryoshi also revealed that Shibarium’s primary pair token will be Bone ShibaSwap (BONE).
Shiba Inu development team also stated that there would be no reason to fail, emphasizing that the layer-2 solution will adhere to decentralization principles.
Shiba Inu developers recently intend to create SHI, an algorithmic stablecoin that will run on both Ethereum and Shibarium.
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