Bones, treats, shibs, and leashes aren't just for furry friends anymore - they're the star players on Shiba Inu's anticipated layer 2 network, Shibarium, a blockchain set to launch post a Toronto-based conference in August. Shytoshi Kusama, the lead developer, gave crypto enthusiasts a tail-wagging update in a recent blog post.
Layer 2? If you're scratching your head, let's dive into the doghouse. Essentially, layer 2 is a selection of off-chain systems built atop existing protocols, aiming to eliminate the scaling issues and data crunch that blockchains often face. Think of it as neatly packing numerous off-chain transactions into a singular layer 1 deal - leaner data, leaner fees.
"Worldpaper's completion, a full showcase of Shib-branded projects, and the detailed unveiling of Treat for the first time," Kusama promised, also hinting at discussions on the long-anticipated L2 Shibarium release.
The DoggyDAO, a decentralized autonomous organization directed by token holders, is also set to make its grand entrance at the launch, offering a fund for those with a vision to build on Shibarium.
The Shibarium testnet, a sandboxed blockchain environment, has witnessed impressive figures in recent months, hitting 20 million transactions from an estimated 16 million wallets as of June. This bustling activity is a strong indicator of the network's appeal.
Developers have let slip that Shibarium will have its eyes set on the metaverse and gaming apps, keeping a keen eye on the non-fungible token (NFT) sector which is set to explode in the upcoming years.
This launch might supercharge the Shiba Inu (SHIB) token, initially born as a Shiba Inu-themed meme coin during the previous bull market, it's now flexing its muscles as a heavyweight contender with a dedicated blockchain network and dapp ecosystem.