SHIB Layer 2 Shibarium Project TestNet Is Nearing Completion

Unification Foundation has provided an update on Shibarium.

Unification Foundation, a provider of blockchain solutions for businesses, revealed in a recent Medium blog post that a public testnet of Shibarium, a Layer 2 scaling solution for the Shiba Inu cryptocurrency, will open in the coming months, followed by a public beta.

It goes on to say that there is a lot of hard work going on in the background, with a lot of moving pieces, as the Unification team continues to play a key role in the Shibarium network’s development.

According to the blockchain solution provider, the second private Alpha TestNet for Shibarium is currently being deployed, which will be utilized for network testing and the creation of all end-user engagement tools like as wallets and block explorers, token transfer bridges, and so on.

After these have been created and implemented, certain private invitations will be given out to trustworthy testers. Before releasing a public Beta TestNet, the feedback will be used to develop and strengthen the network and technologies.

Shiba Inu suffers from high gas fees because it is an ERC-20 token built on top of the Ethereum network. This makes it costly for many newcomers.

This is why many people believe Shibarium will be a game changer for one of the most popular canine coins, as transactions will be more faster and cheaper. As a result, Shiba Inu will be gaming-ready.

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

Shiba Inu teases a year full of unexpected surprises with new functionality like Layer 2 Shibarium and SHI, the Shiba Ecosystem stablecoin, by revealing the details of its much-discussed Metaverse project, dubbed “SHIB: The Metaverse,”

The SHIB burn portal appears to be nearing completion, according to recent updates. Shiba Inu announced earlier this year that it is preparing to launch its own “burn portal” through which SHIB tokens will be burned and removed from circulation on a daily basis. 

The development will increase market demand while also creating scarcity, laying the stage for long-term price increases.

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