{"id":416390,"date":"2023-07-07T18:30:58","date_gmt":"2023-07-07T18:30:58","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=416390"},"modified":"2024-05-31T15:51:38","modified_gmt":"2024-05-31T15:51:38","slug":"shibarium-blockchain-powered-by-shiba-inu-set-to-go-live-in-august","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/shibarium-blockchain-powered-by-shiba-inu-set-to-go-live-in-august","title":{"rendered":"Shibarium Blockchain, Powered by Shiba Inu, Set to Go Live in August"},"content":{"rendered":"<ul class=\"has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background wp-block-list\">\n<li><strong>What<\/strong> Developer Shytoshi Kusama has announced that the layer 2 blockchain Shibarium is ready to launch<\/li>\n\n\n\n<li><strong>Why<\/strong> Potential benefits of Shibarium to the Shiba Inu ecosystem include faster transaction speeds, lower fees, enhanced token usability, and ease of decentralized application development<\/li>\n\n\n\n<li><strong>What<\/strong> <strong>next<\/strong> It will go live after a conference in Toronto in August<\/li>\n<\/ul>\n\n\n\n<p>The proposed launch of Shibarium has been widely anticipated by those involved with the Shiba Inu project and the broader blockchain community. According to the project&rsquo;s lead developer, Shytoshi Kusama, the mainnet release will occur at the Blockchain Futurist Conference in Toronto, set to take place this August.<\/p>\n\n\n\n<p>Shibarium has been in development for several months and is designed to provide an efficient scaling solution to supplement the Ethereum ecosystem. The testnet phase of the project, known as PuppyNet, has generated a considerable number of transactions.<\/p>\n\n\n\n<p>Shibarium will be presented at the conference, alongside the unveiling of the completed Worldpaper. All Shib branded projects will also be introduced, and the L2 Shibarium is expected to be discussed and potentially released.<\/p>\n\n\n\n<p>In addition, the event will mark the creation of DoggyDAO, a decentralized autonomous organization that will be managed by token holders. DoggyDAO is expected to provide funding for projects built on Shibarium.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-shibarium-release-to-update-the-entire-shiba-inu-ecosystem\"><b>Shibarium Release to Update The Entire Shiba Inu Ecosystem<\/b><\/h2>\n\n\n\n<p>Shibarium represents a significant development in the evolution of Shiba Inu from a meme coin to a project with its own blockchain network and decentralized application ecosystem.<\/p>\n\n\n\n<p>Shibarium, a layer-2 blockchain network for Shiba Inu, is expected to introduce a decentralized exchange (DEX), a metaverse, and blockchain games like Shiba Eternity.<\/p>\n\n\n\n<p>Despite the inherent challenges associated with memecoins, like Shiba Inu&rsquo;s unpredictable price movements and inflation due to an abundant supply, the launch of Shibarium is aimed to provide some level of mitigation.<\/p>\n\n\n\n<p>Potential benefits of Shibarium to the Shiba Inu ecosystem include faster transaction speeds, lower fees, enhanced token usability, and ease of decentralized application development.<\/p>\n\n\n\n<p>Built on a proof-of-stake (PoS) framework, Shibarium aims to address scalability issues present in the Ethereum network, while retaining its connection to Ethereum.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" width=\"1200\" height=\"700\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Shiba-Inu-Community-Anticipates-Major-Updates-Rocket-Pond-Launch-SHIB-Metaverse-and-Shibarium-Mainnet.jpg\" alt=\"Shiba-Inu\" class=\"wp-image-416425\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Shiba-Inu-Community-Anticipates-Major-Updates-Rocket-Pond-Launch-SHIB-Metaverse-and-Shibarium-Mainnet.jpg 1200w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Shiba-Inu-Community-Anticipates-Major-Updates-Rocket-Pond-Launch-SHIB-Metaverse-and-Shibarium-Mainnet-300x175.jpg 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Shiba-Inu-Community-Anticipates-Major-Updates-Rocket-Pond-Launch-SHIB-Metaverse-and-Shibarium-Mainnet-1024x597.jpg 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Shiba-Inu-Community-Anticipates-Major-Updates-Rocket-Pond-Launch-SHIB-Metaverse-and-Shibarium-Mainnet-240x140.jpg 240w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Shiba-Inu-Community-Anticipates-Major-Updates-Rocket-Pond-Launch-SHIB-Metaverse-and-Shibarium-Mainnet-768x448.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"><\/figure><\/div>\n\n\n<p>Shibarium plans to increase SHIB transaction speeds by transferring them off the Ethereum blockchain, while maintaining security and introducing a burn mechanism to manage token supply.<\/p>\n\n\n\n<p>The Shibarium ecosystem is set to include several coins such as <a href=\"https:\/\/insidebitcoins.com\/cryptocurrency-price\/shiba-inu-price\">SHIB<\/a>, BONE, LEASH, TREAT, and SHI, each playing unique roles in governance, utility, staking rewards, incentivization, and stablecoin functionality.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-shib-price-analysis-nbsp\"><b>SHIB Price Analysis<span class=\"Apple-converted-space\">&nbsp;<\/span><\/b><\/h2>\n\n\n\n<p>Price fluctuations within the <a href=\"https:\/\/insidebitcoins.com\/news\/shiba-inu-developers-reveal-shibarium-layer-2-project-beta-version-due-this-week\">Shiba Inu ecosystem<\/a> have been varied over the past 24 hours. Data from Coinmarketcap indicates a 4.2% increase for BONE, a 0.7% decrease for LEASH, and a 5.5% decrease for SHIB, reflecting a broader market trend.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" width=\"2162\" height=\"1252\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-07-at-5.31.54-PM.png\" alt=\"SHIB Price Action\" class=\"wp-image-416424\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-07-at-5.31.54-PM.png 2162w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-07-at-5.31.54-PM-300x174.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-07-at-5.31.54-PM-1024x593.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-07-at-5.31.54-PM-240x140.png 240w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-07-at-5.31.54-PM-768x445.png 768w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-07-at-5.31.54-PM-1536x889.png 1536w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-07-at-5.31.54-PM-2048x1186.png 2048w\" sizes=\"(max-width: 2162px) 100vw, 2162px\"><\/figure><\/div>\n\n\n<p>SHIB is currently trading between $0.0000071 and $0.0000078. To increase, the price would need to break through a supply barrier near the $0.000008 mark, which has seen significant buying activity.<\/p>\n\n\n\n<p>Holders of large amounts of Shiba Inu have increased their holdings over the past month. Future developments like the complete decentralization plan by Shiba Inu&rsquo;s lead, Shytoshi Kusama, and the upcoming launch of Shibarium may influence the price, but investors should always conduct their own thorough research.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-related-articles\">Related Articles<\/h3>\n\n\n\n<ol class=\"wp-block-list\">\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/shib-price-forecast-is-a-massive-bull-run-on-the-horizon-for-shiba-inu-coin\">SHIB Price Forecast: Is Massive Bull Run on the Horizon for Shiba Inu Coin?<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/heres-how-shibarium-could-affect-shiba-inu-price\">Here&rsquo;s How Shibarium Could Affect Shiba Inu Price<\/a><\/li>\n<\/ol>\n\n\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">Best Wallet - 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According to the <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/in-content-providers\/a-default-box\" title=\"A Default Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1868,"featured_media":416426,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-416390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shibarium Blockchain, Powered by Shiba Inu, Set to Go Live in August<\/title>\n<meta name=\"description\" content=\"Developer Shytoshi Kusama took to his blog yesterday to announce that the layer 2 blockchain Shibarium will go live following a conference in Toronto 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Compare Brokers within Crypto, Forex &amp; Stocks","publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/insidebitcoins.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/insidebitcoins.com\/#organization","name":"InsideBitcoins","url":"https:\/\/insidebitcoins.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","width":195,"height":32,"caption":"InsideBitcoins"},"image":{"@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/6a85ebbaffc114bacdc81388836ae0c7","name":"Prateek Arora","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/01\/avatar_user_1868_1642445723-96x96.jpg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/01\/avatar_user_1868_1642445723-96x96.jpg","caption":"Prateek Arora"},"description":"Prateek is an experienced writer in the crypto niche with several bylines in reputed websites as well as here at InsideBitcoins. Prateek enjoys breaking down complex topics related to Fintech, the stock market, cryptocurrency, decentralized finance and accountancy so they could be read by a wider audience. His latest crypto news coverage has a focus on how to survive the bear market. An avid traveler, and reader, Prateek likes building assets that could generate passive income. 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