The Shiba Inu community has extended hopes for the launch of Shiberium to 14 February. Shiberium will serve as a major boost to the Layer-2 protocol BONE, LEACH and SHIB.
The anticipation around Shiberium, the layer-2 protocol developed by Shiba Inu’s team, has run high since its launch earlier this month. The reason for this is the tentative date for issuing the protocol which has been fixed as Valentine’s Day on February 14.
The Shiberium Protocol has been tagged as a key component in driving many ecosystem adoption innovations. In addition to being introduced as a key tool promoting the adoption of the Shiba Inu ecosystem, Shiberium is also recognized as a key innovation in the emerging Web3.0 world.
Shiberium is branded as the Shiba Inu team’s response to the scalability challenges of the Ethereum blockchain. Considering the fact that the Ethereum blockchain can only process 15 transactions per second (TPS), this presents a limitation in use. These limits are often expressed in transactions related to gaming, decentralized finance (DeFi) and non-fungible tokens (NFTs).
One of these limitations is the high transaction cost attached. The Ethereum blockchain works by users using their funds to bid for their transactions to be prioritized by validators. The higher the bid, the faster the transaction is likely to be processed.
The advent of the Shiberium would help curb these as transactions would now generally be cheaper and faster. Shibarium will join the tens of layer-2 protocols already helping to facilitate transactions on Ethereum when the protocol goes through the rest of the steps involved in its proof-of-stake (PoS) transition.
Although the anticipation for the launch of Shiberium has passed by now, the Shiberium team has not officially confirmed the date, thus adding to the mystery.
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How the Shibarium Will Boost the Shiba Inu’s Ecosystem
The primary goal of Shiberium is to promote more advanced use cases on the Ethereum protocol for all members of the Shiba Inu community. While Shiberium’s utility will be essential for fueling the wider Ethereum ecosystem, it will help drive the development of core Shiba Inu tokens including SHIB, BONE and LEASH.
The BON token will serve as the native digital asset of the Shiberium Protocol. This will be used for all forms of gas charges for users using the Layer-2 scaling solution. There is already a ready market for the bone as nearly every Shiba Inu member who wants to use the Shiberium Protocol has to obtain one.
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The system is designed to burn a certain amount of SHIB, for every BON token used to pay transaction fees. This interrelated nature of the two tokens will help consolidate the efforts of the Shiba Inu team to create an all-in-one ecosystem that can return value to users across the board.
The Shiberium Protocol is recognized as the much needed glue to help achieve these goals and with the recent partnerships being forged by Shiba Inu, these milestones can be greatly accelerated.
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