Layer2 blockchain Shibarium had its first look

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Shiba Inu (SHIB) developers have revealed Shibarium, a future layer-2 network. In an effort to address the problems of scalability, speed, and cost, it will soon join the continually growing field of Ethereum-based blockchains, such as Arbitrum and Optimism. How does it impact BONE and LEASH?

Shibarium: Layer-2 Blockchain Revealed by Shiba Inu Developers
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Layer 2 refers to a group of off-chain solutions that address scalability and data challenges on top of layer 1s. It enables the consolidation of several off-chain transactions into a single layer 1 transaction, hence minimizing data volume and associated expenses. As anticipated, a beta testnet will launch in the following weeks. Shibarium's performance will be evaluated by developers in a "real-world" setting.

Shibarium will focus on metaverse and gaming applications in addition to serving as a cheap settlement for decentralized applications (dApps) built on the network, according to an overview post released on Sunday by Shiba Inu developers.

The deployment may result in good fundamentals for Shiba Inu, a memecoin that was developed during the previous bull market and has since tried to position itself as a genuine project with its own blockchain network and dApp ecosystem. Shiba Inu's three ecosystem tokens, Leash, Bone, and Shiba Inu (SHIB), which have a combined market worth of nearly $5 billion, may gain even more from the change.

It is important to note that some SHIB tokens will be burned during transactions on Shibarium. We are unsure of the precise quantity or percentage of burned SHIB, though. In case you weren't aware, burning is the procedure used to permanently remove tokens from the supply.

Shibarium and $BONE
$BONE has been selected as the native token for the Shibarium system to pay for gas transactions and compensate Validators and Delegators. Since its establishment in July 2021, governance has been its main responsibility; nevertheless, it is now also in charge of bringing the Shibarium into existence.

With a total supply of 250 million, of which 20 million have been reserved for paying Validators and Delegators in the future and chosen by the Shiba community through its DAO process.