Shiba Inu’s Layer 2 Network Shibarium Set to Go Public in August
On Thursday, July 6, Shiba Inu’s lead developer Shytoshi Kusama announced that the layer 2 network Shibarium could go live in August. In a blog post, Kusama confirmed that the Shibarium project team plans to discuss the launch date of the Shiba Inu’s Ethereum-powered layer-2 network.
Kusama mentioned that the team behind the dog-themed meme coin plans to debut Shibarium in August during the fourth annual Blockchain Futurist Conference. The event will be held in Canada between August 8 to 10.
Shibarium to be Launched in August
According to the post, the developer confirmed that the Shibarium launch will coincide with the ETHToronto and ETHWomen hackathon programs. The hackathon program is projected to run for three days, where the contestants will be required to create innovative blockchain projects.
Reflecting on Kusama’s post, the Shibarium launching is expected to take place during the third anniversary of Shiba Inu. He mentioned that the Shiba Inu team anticipates launching their latest development in Canada, the hometown for Vitalik Buterin, the founder of Ethereum.
In his report, the tech developer confirmed that the Shiba Inu team will sponsor the upcoming Blockchain Futurist Conference, ETHToronto, and ETHWomen hackathon projects. At the event, Kusama will deliver a keynote speech virtually using artificial intelligence technology.
Beyond this, Kusama explained that the Shiba Inu team will present their unique “world paper” at the event. A world paper is a well-detailed report outlining Shiba Inu’s latest development and projects currently under development.
Surprisingly for the first time, Shiba Inu will provide an overview of the features of “Treat Token.” The report stated that Treat Token will be in charge of supervising community projects.
Benefits of Shibarium Network
Besides launching Shibarium, the Shiba Inu team will roll out a hackathon project that will run for several months. At the event, the Shiba Inu team will have two booths that will be used to showcase a variety of dog-themed memes, including Shibarium, Shibacals, Shiboshis, and the popular Shiba the Metaverse.
In addition, the tech firms plan to showcase their latest projects centered on the Shibarium ecosystem. The New York-based tech firm will work closely with its strategic partners, such as the Unification Group and BadIdea.AI during the launch.
Per the post, the Shiba Inu team has been investing in developing a variety of digital tokens to meet the customers’ ever-changing demands. The report specified the role of the Shiba Inu native token SHIB, which has been used to control the community operation.
On the other hand, the popular Bone ShibaSwap, known as BONE, has been utilized to support the token and governing technology tools positioned in the Shibarium ecosystem. It was reported that the Shiba Inu developers integrated cutting-edge technologies into the Doge Killer token Leash to protect the community by restricting some products and services.
Shiba Inu Reveals Next Plans
Elsewhere, Kusama admitted that the Shiba Inu team launched the Doggy DAO in 2021, aiming to improve the ecosystem’s governance. He elaborated that despite the Doggy DAO, the tech firm developed Shib Doggy DAO Foundation, the second largest meme coin by market cap.
The developer noted that the “Doggy DAO token” supported the decentralized autonomous organization (DAOs) in decision making. Referring to the post, Kusama mentioned that the DoggyDAO platform will be used to finance Shibarium projects.
The developer added that the Shibarium testnets have been successful since over 20 million have been conducted by approximately 16 million digital wallets in June. Kusama was delighted to state that the meaningful transaction on the Shibarium ecosystem demonstrated the spiking demand for the Layer-2 network.
Earlier, the developers had confirmed that the Shibarium ecosystem would support the development of metaverse and gaming applications, including nonfungible tokens (NFTs) in the future. The developers projected that the launch of the Shibarium would propel Shiba Inu (SHIB) to gain significant market dominance in the blockchain and the decentralized applications (dAPP) sectors.
Following the Kusama announcement, the Shiba Inu community was optimistic about the news. Some users confessed that they had eagerly waited for the development an Ethereum Layer-2 network for a long time.
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