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- Shibarium is an L2 blockchain network developed on Ethereum for Shiba Inu.
- The primary objective of Shibarium is to advance the SHIB ecosystem by addressing the issues related to fees, speed, and utility.
Shiba Inu’s purpose is to welcome new crypto users and educate them about the crypto market and related projects. Shibarium is a concept created to offer users the tools to develop and grow the project on their own. Shibarium is an upcoming L2 network developed over the Ethereum blockchain to advance the SHIB ecosystem and address the issues in the present ecosystem.
The idea of the Shibarium project was proposed by Ryoshi, the developer of Shiba Inu, in May 2021. The motive is to completely transform the Shiba Inu from a meme coin to a comprehensive ecosystem involving metaverse, Decentralized Exchange (DEX), and blockchain games. Shibarium will act as a secondary blockchain network handling most of the transactions related to SHIB and other environment tokens.
Purpose and Need of Shibarium
Shibarium is expected to stabilize SHIB’s value and convert Shiba Inu into a valuable project. It is a Proof-Of-Stack (PoS) project that helps Shiba Inu to improve scalability. Advanced transaction speed is another factor that unlocks the potential of Sibarium in the marketplace. Shiba Inu users are facing problems related to the high transaction speed at present while performing a transaction on Ethereum. For a small transaction of $10 in value, an individual needs to pay around $ 50 of Ether (ETH).
It is expected from Shibarium to lower the transaction fees and gas fees to a negligible level. Also, the Shibarium environment is comprehensive, involving the SHIB metaverse, blockchain games, and ShibaSwap DEX offering a complete ecosystem. It is expected that the involvement of metaverse and games will attract more and more users to the environment. The token utility is another major factor that made Shibarium one of the great platforms to operate. The platform works as a native home to all Shiba Inu ecosystem non-fungible tokens (NFTs) and allows users to buy and collect their favorite pieces without any additional fees.
How to Invest in a Shibarium Environment?
The new ecosystem has the potential to work with numerous digital tokens in line with the dog theme. SHIB, TREAT, LEASH, BONE, and SHI are some major digital tokens accepted in the Shibarium ecosystem.
Shibarium DAO is a decentralized organization established to develop a community on the Shibarium blockchain and can be purchased using the Coinbase wallet. The current price of Shibarium DAO is around $0.000264 and might go to $0.00031224 by the end of the year. Also, over the past seven days, Shibarium DAO is moving upward and it has increased by 4.36%. In 2025, the price of Shibarium is expected to reach around $0.00066982 reflecting continuous growth and expansion in the future. It is a good investment for those who have high-risk tolerance and a strong financial position.
Conclusion
Shibarium’s Layer-2 is developed over the Ethereum blockchain that is added to mitigate the issues faced in the current blockchains. The key purpose of the idea introduction is to offer scalable solutions for Shiba Inu community applications along with unlocking the capabilities linked to fees, complete ecosystem, token utility, and better transaction speed.
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