Altcoin News by Thebittimes.Com

Shiba Inu’s Layer-2 protocol, Shibarium , was recently launched. Despite a rocky start, the network has started gaining traction in terms of usage. In just a few days after the relaunch, the number of wallets on the network surpassed 1 million. Users have also started locking their assets to the protocol. In a recent tweet, Shiba Inu team member Lucie affirmed that Shibarium offers significantly low fees to its users. Thus, this L2 network is ideal for small businesses and companies, she contended. The community has set several benchmark targets for SHIB, and 1 cent is among them. Reaching such a milestone will require substantial growth and significant time. Other factors like adoption, investor sentiment, overall demand, and the utility of the token will also play key roles in determining the same. Thus, if Shibarium proves to be successful over the long term, then SHIB will be in a position to attain higher highs on the price front. She pointed out nine ways Shibarium co...

Shiba Inu, a cryptocurrency known for its meme coin status, has garnered considerable interest from the community and has seen active participation in multiple projects, including the development of the Shibarium network, Puppynet. In 2022, the Shiba Inu team introduced several initiatives. These include the Shiba Eternity game and the SHIB metaverse, which created excitement and anticipation for the launch of Shibarium . Also read: Cathie Wood’s ARK Rumored to be at Forefront of Bitcoin ETF Race The lead developer of SHIB, Shytoshi Kusama, recently made an announcement on Twitter regarding the upcoming launch of Shibarium . In a blog post, it was mentioned that the release of Shibarium is anticipated to take place during the Blockchain Futurist Conference, scheduled for August 15 and 16 in Toronto, Canada. Additionally, Kusama shared additional details regarding the developments in the pipeline. In one of her recent tweets, Shiba official LUCIE shared her...

Shiba Inu’s Shibarium Scaling Final Update Shibarium has accumulated over 65,000 wallets and 350,000 transactions, revealed Shiba Inu lead developer Shytoshi Kusama in an official blog on August 28. Explorer Shibarium scan.io shows that Shibarium mainnet has been producing blocks since August 24. advertisement “I need to give explanation and a huge thank you to the Polygon team. Quickly after the incident began, I called Sandeep from Polygon directly and without a second thought, he helped provide additional resources to ensure a perfect outcome to the situation. And that, is why our pivot to fork Polygon was the correct one.” Regarding the funds and bridge, Shytoshi Kusama revealed that funds are “safu” and the bridge is working correctly. SHIB, LEASH, and WETH withdrawals through the bridge will typically take 45 minutes to 3 hours, happening in at least 2 checkpoints. Meanwhile, BONE withdrawal can take up to 7 days. He warned t...

The introduction of Shibarium , the much anticipated layer-2 network of Shiba Inu [SHIB], generated substantial excitement. However, it did not significantly impact either the price or the rate of token burning. To illustrate, Shiba Inu’s weekly token burning decreased by 38.76% in the past week. Shibburn reported that a total of 1,840,593,165 SHIB tokens were destroyed, distributed across 255 transactions over the course of the week. Source As illustrated above, the Shiba Inu network experienced its highest token-burning activity on the previous Monday, Aug. 13. The following notable instance occurred on Aug. 16, coinciding with the launch of Shibarium . However, this trend did not persist, as the following days witnessed a reduction in burn activity. Overall, a sum of $15,573,890 worth of SHIB was transferred to inactive wallets. This fell short of the anticipated token-burning figures after the introduction of Shibarium . Earlier forecasts indicated that the Shiba Inu netwo...

Shiba Inu’s (SHIB) highly anticipated layer-2 network, Shibarium , is “closer than you think,” according to blockchain infrastructure provider, NOWNodes. NOWNodes is also a key partner in SHIB’s layer-2 initiative. According to the platform, the final up dates are being processed before the mainnet launch. https://t.co/t4e5ljpvCQ x @ Shibarium Net Final Up dates before Mainnet launch 🛠️ It's closer than you think 👀 📣 As we stated a couple of weeks ago, our team entered Stage 3 of our Shibarium Roadmap. For now we've been focusing on onboarding project to build on Shibarium and… pic.twitter.com/PMvDmSEJcO — NOWNodes ⛓️ (@NOWNodes) July 20, 2023 A few weeks ago, the NOWNodes team entered stage 3 of their Shibarium roadmap. The team is currently focusing on onboarding projects to build on the upcoming network. As per an official tweet, the team will announce their official partner after finalizing th...

Much to the delight of the SHIB Army, it has been revealed that the long-awaited Shiba Inu (SHIB) ecosystem upgrade, Shibarium , will have 70% of its base fee burned. Subsequently, the layer 2 protocol will greatly affect the vital burn rate of the meme coin. The massive development of the Shiba Inu ecosystem had been on the horizon for some time. Now, documentation has revealed just how Shibarium could play a vital role in the community’s pursuit of burning SHIB. Nice! Also 10,000 times lower fee than etherium! Someone do that math real quick. I’m bad. If I paid $10 in Eth fees last transaction and it’s now 10,000x lower how much Shib will burn?! pic.twitter.com/rMm9NHe1Lo — OhGodYes (@ohgodyes) March 24, 2023 Shibarium Upgrade’s Crucial Burning Info For months, the arrival of Shibarium had been a dominating part of the digital asset industry discourse. Moreover, the expansion of the Shiba Inu ecosystem spoke to the potential utility of the highly popular meme co...

The lead developer of ShibaSwap, Shytoshi Kusama recently held a Q&A session on Discord regarding the Shibarium network. The developer confirmed that a few projects are already onboard to utilize and develop on the Shibarium layer-2 solution. Shibarium will allow users to build and run custom projects on top of its network and it would be powered by the Shiba Inu ecosystem. The ecosystem would classify different use cases for each of its native tokens, SHIB, BONE, and LEASH. Also Read: Exclusive: ‘Here’s What I’ll Do When Shiba Inu Reaches $0.01′ Shiba Inu: List of Projects That Could Run on Shibarium Shytoshi confirmed that four different projects might launch on the Shibarium network when the L2 solution is established. The cryptocurrency projects that could run on Shiba Inu’s Shibarium network are: Falcon 9 (F9) UFO Gaming (UFO) MoonBet (MBET) Voxel X (VXL) “I’m so excited to see projects like F9, Ufo, Mbet, VXL, and other tokens utilize Shibarium and...