Shiba Inu to launch Ethereum layer 2 Shibarium testnet

Shiba Inu to launch Ethereum layer 2 Shibarium testnet

16.01.2023 13:16 (Updated 16.01.2023 13:01)
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by Maksym Prykhodko
2 min read

Meme coin developers have announced the launch of the Ethereum mainnet beta testnet. Shibarium will serve as a layer 2 network focused on metaverse and NFTs.

In a recent community blog posted on Sunday, Shiba Inu developers hinted at a foreseeable Shibarium testnet launch:

We ask the community to please understand, that this phased release is not a matter of wen but a matter of developing Shibarium correctly, and introducing it responsibly. Avoid asking wen, because the answer will always be a ‘soon’. Yet with that being said we are approaching the finishing touches for Shibarium’s Beta and its imminent launch.

Shibarium is a Layer 2 network built on top of the Ethereum mainnet to solve problems such as scalability, cost, and speed, just like the other L2 solutions, Optimism and Arbitrum. The launch of Shibaruim is a natural evolution of the Shiba Inu ecosystem ($SHIB, $LEASH, and $BONE), which started with a Shiba Inu-themed meme coin creation in the last bull market and received great recognition.

Related: Arbitrum and Optimism overtake Ethereum in transaction volume

These three projects, shiba inu (SHIB), leash (LEASH) and bone (BONE), are based on Ethereum and have a market cap of about $5 million combined, according to CMC.

Shibarium aims to bring faster, cheaper solutions to create an ecosystem for metaverse and gaming developers:

Combined, web3 and Shibarium’s layer 2 blockchain technology can enable a new decentralized metaverse and gaming ecosystem, where players can interact and transact in a trustless and decentralized way and where players can own, buy and sell the digital assets they acquire.

To launch a test network, Shibarium starts with a beta testnet version – the Shibarium testnet faucet. Users will receive $BONE test coins to try the network before launch.

Author

  • Maksym has denied the existence of crypto as an asset for 3 years when he was working with standard financial instruments. Became Head of Treasury. Won the best bank employee award and left the bank for cryptocurrency exchange the next day. Got a second university degree, but that didn’t stop him from studying finance yet. Combines fiat and crypto experience to be as objective as possible in general matters. His dream is to be interviewed by Bloomberg.

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