Paris H.
Paris H.
Dec 15, 2022

What Is Shibarium Release Date? What Is Shibarium Blockchain?

#investment#blockchain#cryptomarket#shib
tl;drShibarium is Shiba Inu’s solution to the scalability problem in the Ethereum blockchain. This solution will be a blockchain layer running on Ethereum, with its built-in burn mechanism to help raise the price of the SHIB token. The Shibarium release date has changed, and the Shiba Inu developer team couldn’t release it in Q3 2020 as planned. When is the Shibarium release date? Will shibarium blockchain launch increase the token’s price? What benefits does Shibarium bring? We’ll cover these questions in this article, plus some more. Keep reading!
What Is Shibarium Release Date? What Is Shibarium Blockchain?
What Is Shibarium Release Date? What Is Shibarium Blockchain?
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Will Shibarim be launched on Valentine's Day?

The Shibarium team is excited to announce that the beta launch of our new product is scheduled for Valentine's Day! We can't wait to share what we've been working on with everyone and we hope you love it as much as we do.

Shiba Inu lead developer Shytoshi Kusama changed his Twitter bio to add hints about the anticipated launch of the Shibarium Layer-2 blockchain. His new bio reads:

“tending the Pine Tree of Life. Quickly learning to play the flute before putting #Shibarium in a heart-shaped box with a bow.”

The Shiba Inu community is abuzz with excitement as the long-awaited Shibarium Beta launch is expected to take place on Valentine's Day.

While the team is working hard to get everything ready for the launch, they have already shared some fundamental concepts and the BONE gas token with the community.

Based on the increased activity on GitHub, it seems like the launch is getting closer and closer!

The Shibarium release date has been a subject of discussion recently, as it was due Q3 2022. As you know by now (!), it didn’t happen on time as Shiba developers couldn’t complete it.

The crypto influencer revealed a crucial detail – Shibarium is close to launching. The Shibarium might go live between January and February of 2023. Indeed, Shibarium is the last piece of the puzzle needed to transform the two-year-old meme coin into a self-sufficient ecosystem.

On Shibarium’s launch, Shiba Inu’s Bone ShibaSwap (BONE) will be used for gas fees. Besides, the launch of Shibarium would enable the team to introduce other upcoming products, including SHIB: The Metaverse and $SHI stablecoin.

Shibarium's launch is an exciting development for the Shiba Inu community as it opens up new possibilities for the coin. We can't wait to see what the team has for us next!

What Is Shibarium Blockchain?

Shibarium Blockchain is an L2 blockchain scaling solution provided by the Shiba Inu creator, Ryoshi, to decrease Shiba Inu’s dependence on its host chain, Ethereum. Also, Shubarium is intended to improve scalability and increase transaction speed.

Upon Shibarium’s launch, SHIB will migrate to layer 2, which may help SHIB’s price to hit new highs. This is why knowing the Shibarium release date is essential to numerous crypto enthusiasts.

What Is Blockchain Layer-2 Solution?

Layer-2 solutions refer to the technology a blockchain protocol uses to increase the efficiency and speed of its underlying blockchain. Why do we need to increase efficiency and speed in blockchain? Because of the blockchain trilemma.

It’s essential to know what blockchain layers are and how the L2 solutions work. But I won’t bore you here in the Shibarium blockchain launch date article, but you can learn all about blockchain layers and layer-2 solutions.

What Is The Purpose of Shibarium Blockchain?

It’s called the Shibarium blockchain, but practically, it is not a blockchain but a blockchain layer on Ethereum. The purpose of Shibarium is to control and support a big part of the SHIB token transactions to decrease Shiba Inu’s dependency on Ethereum.

How Does Shibarium Work?

Thanks to Shibarium, the Shiba Inu transactions will be divided between two chains, i.e., the Layer-1 chain (Ethereum) and the Layer-2 protocol (Shibarium). You may think two systems in action will result in low transaction speed, but Shibarium is to cover a large number of transactions. So, the Ethereum transactions won’t delay the system, which means a reduction in the network load.

Shibarium will also have a burn mechanism, which will constantly burn SHIB tokens to help increase the token price and receive a small fee to be used in the burn process. Those holders participating in the token burn will be rewarded with lower transaction fees.

How Is Shibarium Blockchain Different From Other Blockchains?

The first difference is that Shibarium Blockchain is not even a blockchain! Everybody says it is, but actually, it’s not! As mentioned above, it is only a blockchain layer on the Ethereum blockchain.

Considering the fact that other blockchains are blockchains per se, we cannot compare them with only a layer of blockchain. So technically, it’s not correct to call Shibarium a standalone blockchain like the Ethereum blockchain.

Benefits of Shibarium Blockchain

The Shibarium layer-2 solution aims to provide the following benefits:

  • Improved Throughput
  • Lower Gas Fees
  • Increased Token Utility
  • Transparency
  • Security
  • Streamlining Shiba Inu NFT Gaming
  • Developing DApps
  • Expanding Metaverse

How Will Shibarium Impact SHIB?

Shibarium blockchain is being developed to increase SHIB's price stability and help raise its price through a burn mechanism. A lower transaction fee is something that everybody seeks in the crypto sphere, and the projects really providing it will enjoy increased users, i.e., more transactions.

Shibarium Utility Token: SHIB, LEASH and BONE

Shibarium is a layer-2 solution for the Shiba Inu protocol, and it benefits all the three tokens the Shiba protocol provides, i.e., SHIB, LEASH, and BONE. Let’s get to know each one below.

SHIB

The SHIB token is Shiba Inu’s foundational currency, which is the first token listed and incentivised on Shiba Inu’s DEX, ShibaSwap.

LEASH

LEASH was created as a rebase token and the second token to be incentivised on ShibaSwap. Holders of the LEASH token will receive significant rewards for providing liquidity.

BONE

BONE was the third token to be released from the Shiba Inu platform to fill the void between the platform’s two other tokens in terms of supply. BONE is a governance token that lets the holders vote on Doggy DAO proposals.

Shibarium and Shiba Token Burn

Now that we have learned all about the Shibarium release date and the details of how it works, it’s good to mention the Shiba token burn. You may know that there are too many SHIB tokens out there, i.e., its total supply is one quadrillion!

The thing is that the more coins in total supply, the less demand and value of the token! Shiba Inu started its burn mechanism to solve this problem of low value. Simply put, the Shiba token burn will help increase the SHIB token price.

ShibBurn is a whole new story you can learn all about in this article named “What Is Shiba Token Burn (ShibBurn), And How Does It Work?”.

Summary

Here we are through with the essentials about Shiba Inu’s Layer-2 solution, Shibarium and how it works. Those who follow the Shibarium release date care about the SHIB price and would certainly enjoy learning the hottest updates on Shiba Inu Price Prediction 2025.

FAQ

Last but not least, let’s answer some of the most frequently asked questions regarding Shibarium.

Will Shibarium Burn Shiba?

Yes, Shibarium has a built-in mechanism to let the holders burn the tokens to take them off circulation to increase the SHIB’s price. According to recent updates, Shibarium may charge some fees and use them in burning the tokens.

Shibarium Contract Address

Here’s the Shibarium contract address: 0x2063fdc341f5c598a33da895064c41b169a883d6

Is Shibarium A Coin?

No, Shibarium is not a coin or token but a blockchain layer on the Ethereum blockchain aiming to be a Layer-2 solution.

What Is Shibarium Burn Mechanism?

Shibarium has a built-in mechanism for the SHIB token holders to enable them to burn the tokens. Burnt the SHIB tokens will no longer be in circulation, so they aid in surging the token's price.

When Will Shibarium Launch?

The Shibarium release date was initially in Q3 2022, but due to some problems in development, Shibarium hasn’t been launched yet. The release date is currently unknown, but it is said to happen soon!

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