Home Finance The Shiba Inu (SHIB) team presents the basic concepts of the Shibarium

The Shiba Inu (SHIB) team presents the basic concepts of the Shibarium

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Earlier today, the Shiba Inu (SHIB) team made an important announcement, with the introduction of the underlying concepts of their Level 2 blockchain, dubbed “Shibarium“.

This tier 2 blockchain operates on top of the Ethereum blockchain, which is currently used by SHIB tokens (SHIB, LEASH and BONE). Its main calling card is its ability to provide scalability and support faster transactions at lower costs.

This Tier 2 platform also opens up many opportunities, including services such as NFT adoption or transaction fees, where rising gas prices made small, often daily transactions impossible and cost prohibitive.

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In addition, the task of ensuring scalability and security falls not only on those deploying the nodes, but also on the delegates, i.e., the people who set up token staking contracts that serve as a reward system.

The distribution of rewards among these participants will be based on a commission rate set by the network validators.

Finally, users can access Shibarium’s trial tokens through private trial network portals, although the network has not yet been officially deployed.

Shiba Inu’s lead developer, Shytoshi Kusama, has repeatedly stated that Shibarium will launch in the near future.

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