What is Shibarium?
Shibarium is a forthcoming layer-2 (L2) blockchain network based on the Ethereum network which aims to turn Shiba Inu into a complete ecosystem, rather than just a memecoin.
The anonymous creator of Shiba Inu, Ryoshi, introduced the Shibarium project in a blog post in May 2021. The project proposes to develop a layer-2 blockchain solution on the Ethereum network to turn Shiba Inu into a comprehensive ecosystem that includes a decentralized exchange (DEX), a metaverse, and blockchain games such as Shiba Eternity.
Shiba Inu is a memecoin, which is a cryptocurrency token represented with internet memes and such coins are driven by pop culture. Shibarium is aimed at restructuring Shiba Inu into a stable multi-project ecosystem. While a launch date for Shibarium has not been announced by developers, a preview of the SHIB metaverse was showcased at SXSW 2023 from March 13 to 15.
Despite being originally scheduled for release in February 2023, the release was postponed ensuring a bug-free version after thorough testing in different phases.
Shibarium brings a lot of new features to Shiba Inu, such as:
- Faster transaction speeds
- Lower trading fees
- Complete ecosystem
- Boosted token utility
- Intuitive DApp development
Sources:
https://cointelegraph.com/explained/what-is-shibarium-and-what-does-it-mean-for-shiba-inu
https://www.fastcompany.com/90857274/shiba-inu-coin-shib-shibarium-explained-blockchain-network
https://u.today/guides/what-is-shibarium-and-what-does-it-mean-for-shiba-inu-shib-guide