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The developer of dog-themed token Shiba Inu (SHIB) has posted an update to inform the community about the beta release of Shibarium, a layer 2 network that runs on top of the Ethereum mainnet.
In the announcement, SHIB developers shared information about layer 2 blockchain, and Shibarium was built to provide tools that enable the community to build and grow projects and realize the vision of its founders. emphasized that there are Some believe the creation of Sibarium is a way to increase the price of the meme token, but the developers have pointed out that this is not their goal.
“Patience is key, and some see Shibarium as a tool to push the price, but that is not the focus of the project and has never been.”
Instead, the developers stated that the goals of the new infrastructure update were to remove barriers to entry for small transactions, upgrade speeds, enable the development of decentralized applications, and integrate non-fungible tokens. to revolutionize the Shiba ecosystem.”
A key update of the new announcement is one of the most requested features of the project, the SHIB combustion mechanism. According to the developer, “Every transaction on the network has an implicit burn amount of $SHIB tokens.” This mechanism happens every time a transaction takes place in the network.
The developer hasn’t given an exact date for the release, but the team has reiterated that the answer to all timeframe questions is “soon.”
Related: Shiba Inu founder deletes social media posts, resigns from community
Members of the Shiba Inu community expressed excitement over the new development.Several believe While there’s a lot to look forward to in the ecosystem’s future, some are happy to read new updates to the project.
I just want to say thank you for the update. that’s all i asked for. It is now transparent. Second, for anyone asking in the comments section when Sivalium will be released, please read her first two paragraphs. You guys nailed it.
— Burrito (@Burrito02353106) January 15, 2023
On November 22nd, SHIB developer Toshitoshi Kusama reported on social media that the World Economic Forum (WEF) had invited the project to help develop a global policy on the Metaverse. The developer stressed that if that happens, the project will work with Facebook and other tech giants like Decentraland to help the WEF formulate policies.
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