- The Shiba Inu Team has announced the launch of its L2 blockchain platform (Shibarium) in beta, aimed at lowering gas prices on the Ethereum network.
- Transactions on Sibarium are done “off-chain” and put back on the Ethereum blockchain. This reduces costs and shortens processing times.
- Sibarium also provides a robust development framework for communities to incorporate their vision into the blockchain, potentially for use in games, social media, education, and supply chains.
- The platform also supports Non-Fungible Tokens (NFTs) and has a native token $BONE. This is used to pay for gas transactions and reward validators and delegators within the protocol. $BONE is now available through ShibaSwap and other platforms, and is expected to see more attention and adoption as Shibarium approaches its launch.
new blockchain platform, Sibariumwill be launched as a solution to high gas prices on the Ethereum network from the Shiba Inu team.
The launch of Shibarium is to solve a common barrier for users trying to trade small amounts in their daily lives. The $15 installment purchase plus the $50-$100 surcharge makes it impractical and impractical for many people to use. These digital assets in day-to-day trading.
Sibarium is a layer 2 blockchain. This means that transactions occur “off-chain” and are transferred back to the Ethereum blockchain. This allows the Shibarium blockchain to handle most of the processing work, reducing bandwidth and reducing costs and processing time for users.
Beyond cost and speed advantages, Shibarium’s development framework provides robust functionality that allows the community to incorporate their vision into the blockchain. Decentralized applications (dApps) are a key component of the expansion of the web 3 and their uses are almost limitless. Gaming, social media, education, and supply chains are just a few of the potential uses for dApps on Shibarium.
The platform also supports Non-Fungible Tokens (NFTs) with the ability to create chain-specific NFTs. These tokens can be used for a variety of applications including event tickets, in-game items, art and music, digital real estate, and more.
Sibarium and $Bone
The long-awaited Layer 2 blockchain platform Sibarium has also announced that it will use its native token $BONE to pay for gas transactions and reward validators and delegators within the protocol.
Since its launch in July 2021, $BONE’s primary function has been associated with governance, but according to the team, it will also play a key role in the upcoming Sibarium launch.
Validators and Delegators are assigned a percentage of tokens called $BONE that are distributed each time a certain amount of time is reached. You will also be given part of another token called TREAT. Fees are fees received by validators for the operation and maintenance of their nodes. Rewards are distributed based on the amount of tokens each staked, after validator fees.
The total supply of $BONE is 250 million, of which 20 million are reserved to reward validators and delegators over the next few years. The allocation of these tokens was determined through a Decentralized Autonomous Organization (DAO) process voted on by the Shiba community.
$BONE is currently available through ShibaSwap and other decentralized and centralized platforms. Its contract address is:
0x9813037ee2218799597d83d4a5b6f3b6778218d9.
As we get closer to Sibarium’s launch, we expect more attention and adoption as $BONE is at the forefront of gas trading and rewards within the protocol.
