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Shiba Inu developers have launched their highly anticipated, purpose-built Ethereum layer-2 scaling solution Shibarium, ushering in a new era of growth for one of the crypto industry’s largest decentralized communities.
The launch announcement was made at the Blockchain Futurist Conference/ETH Toronto.
As per a press release sent to Cryptonews.com from the Shiba Inu development team, the Shibarium mainnet “will serve as the technical bedrock underpinning the entire Shiba Inu State”.
“Having already resonated with a community of over 21 million user wallets during its beta testnet, the live Shibarium mainnet is now ready to on-board millions more who are interested in shaping a new future that honors the principles of decentralization, interoperability, and user-centric design for both blockchain and technology at large”.
Shibarium Starts With Community and Decentralization
“Many in the tech world, inside and outside blockchain, are promising ‘everything apps’ and full user interactivity in the world of ideas, goods, services, and other opportunities,” said Shiba Inu Lead Developer who goes by the pseudonym Shytoshi Kusama.
“However, any such promise absolutely must start at a place of both community and decentralization,” he continued.
“As part of one of the most popular cryptocurrencies on the planet, Shibarium lives at the intersection of those two principles in a way that eludes most other technologies, even many other blockchains”.
Indeed, Shibarium’s highly decentralized and community-focused starting point is a key advantage that the blockchain has over some of its more established Ethereum layer-2 rivals.
“To compare what we have launched, in full, to other L2’s is a misnomer,” Kusama said.
“If you consider even the best L2’s to be a Ferrari engine, we just placed a Lamborghini engine into a Revuelto and handed the community the keys… The others are still in the shop with devs tweaking the cylinders”.
Fast Transaction Speeds, Minimal Gas Fees, Cost Effective Protocol Building
Shibarium facilitates fast transaction speeds with minimal gas fees, transforming the Shiba Inu ecosystem user experience.
SHIB and the broader Shiba Inu ecosystem has, up until now, had its home on the Ethereum blockchain.
While this has provided the ecosystem and community with security, reliability and access to the world’s most developed and liquid decentralized finance (DeFi) markets, Ethereum comes with the downsides of high gas fees and slow transaction times.
As per the press release sent to Cryptonews.com from Shiba Inu developers, “anyone can build cost-effective protocols on Shibarium, expanding the reach and potential of the ecosystem while enriching the overall user”.
Shibarium will support all parts of the Shiba Inu ecosystem, including the $SHIB, $LEACH and $BONE tokens, as well as Shiboshi NFTs, SHIB The Metaverse, the ShibaSwap decentralized exchange (DEX) and the Shiba Eternity Game, as well as many thousands of major upcoming projects.
Focus on Decentralized Digital Identity
Besides providing a new home for the growth of the Shiba Inu web3 ecosystem, Shiba Inu is also focusing on empowering its users to fully control and secure their digital identities without the interference of third parties.
As per the press release sent to Cryptonews.com, Shiba Inu is prioritizing the integration of Self-Sovereign Identity, or SSI.
“SSI enables users’ self-custody of verified credentials including physical documents that confirm and secure identity, such as passports and driver’s licenses”.