What is the Shibarium and what does it mean for the Shiba Inu?

Benefits of using Shibarium include higher transaction speeds, lower fees, increased token utility, and seamless decentralized application (DApp) development.

Despite upgrading to a proof-of-stake (PoS) blockchain via merger, the Ethereum blockchain has always struggled with scalability, despite its robust security layer. Shibarium is also a PoS project, which will help Shiba Inu scale while keeping him hooked to the Ethereum blockchain. Shibarium is expected to stabilize SHIB's value and turn Shiba Inu into a value-added project with long-term prospects.

Let's see below how Shibarium will unlock the potential infused into the memecoin.

Better transaction speeds

By adding Layer 2 to the Shiba Inu ecosystem, Shibarium will increase throughput, allowing the project to handle significant growth. Shibarium is expected to significantly increase transaction speed, although users will have to wait a bit longer for accurate throughput information.

Reduced fees

High transaction fees have been a problem for anyone transacting on Ethereum. Sometimes the fees are higher than the transaction amount. For example, it may be necessary to pay a high fee of $50 in Ether (ETH) for a small transaction worth $10. The introduction of the Shibarium layer-2 solution is likely to make gas costs negligible.

Complete ecosystem

Unlike being a simple memecoin, the Shibarium ecosystem will be comprehensive, comprising several projects, including the SHIB metaverse, ShibaSwap DEX, and blockchain games. The metaverse and games should attract users, while the DEX will provide better liquidity.

Token Utility

The abundant supply of SHIB, despite burning over 40% of the tokens, has been a huge impediment to its growth. Shibarium handles this by introducing BONE as a native coin. When Shibarium takes off, network validators will be paid in BONE to secure and validate transactions. Additionally, in the new ecosystem, every transaction will consume SHIB, a mechanism to control the extremely inflated supply of SHIB.

DApp development

DApps are decentralized applications whose backend code runs on a decentralized peer-to-peer (P2P) network. The memecoin, however, simply did not have the wherewithal to act as a native DApps coin. Shibarium intends to develop a robust ecosystem including a layer 2 solution in collaboration with Ethereum. It will provide the technical capability to create DApps within the ecosystem.