Shiba Inu’s Shibarium to Solve Scaling Problems of Trillion-$-Markets and Projects with Superior L2 Tech
• Shiba Inu has continue to evolve to serve as a major push for massive new user onboarding to Web3.0.
• Technology advancement of the memecoin is showcased through Shibarium.
Shiba Inu’s Layer-2 scaling solution Shibarium which is currently in its beta-testing phase is fast gaining attention. The L2 network has been designed to increase transaction speed while also reducing transaction fees.
As was previously stated, the native gas token of the network will be governance-linked BONE. With the launch of Shibarium, developers are now been granted access to hassle-free decentralized application (dApp) development and increased token utility.
Over time, scalability has been a major challenge for many developers. Even after Ethereum’s transition from a Proof-of-work (PoW) consensus algorithm to a Proof-of-stake (PoS) mechanism through The Merge, the blockchain still suffers scalability problems. Markedly, Shibarium also utilizes the PoS consensus mechanism, being an offshoot of Ethereum, however, with a more scaling innovation.
In terms of gas fees, adding Shibarium to the Shiba Inu network is predicted to cause a surge in the throughput which will then allow the L2 to handle tangible expansion. Once this happens, transaction speed will increase significantly leading to a drastic drop in gas fees, up to 90%.
Read More: https://www.crypto-news-flash.com/shiba-inus-shibarium-to-solve-scaling-problems-of-trillion-markets-and-projects-with-superior-l2-tech/
• Shiba Inu has continue to evolve to serve as a major push for massive new user onboarding to Web3.0.
• Technology advancement of the memecoin is showcased through Shibarium.
Shiba Inu’s Layer-2 scaling solution Shibarium which is currently in its beta-testing phase is fast gaining attention. The L2 network has been designed to increase transaction speed while also reducing transaction fees.
As was previously stated, the native gas token of the network will be governance-linked BONE. With the launch of Shibarium, developers are now been granted access to hassle-free decentralized application (dApp) development and increased token utility.
Over time, scalability has been a major challenge for many developers. Even after Ethereum’s transition from a Proof-of-work (PoW) consensus algorithm to a Proof-of-stake (PoS) mechanism through The Merge, the blockchain still suffers scalability problems. Markedly, Shibarium also utilizes the PoS consensus mechanism, being an offshoot of Ethereum, however, with a more scaling innovation.
In terms of gas fees, adding Shibarium to the Shiba Inu network is predicted to cause a surge in the throughput which will then allow the L2 to handle tangible expansion. Once this happens, transaction speed will increase significantly leading to a drastic drop in gas fees, up to 90%.
Read More: https://www.crypto-news-flash.com/shiba-inus-shibarium-to-solve-scaling-problems-of-trillion-markets-and-projects-with-superior-l2-tech/
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