The anticipated launch of Shiba Inu’s Layer-2 blockchain Shibarium Beta is almost here, the platform announced on Monday. The official Twitter account of the Shibarium blockchain introduces some basic concepts to the Shiba Inu community about the Shibarium before its launch. As a result, both SHIB and BONE tokens skyrocketed in the last 24 hours.
Shibarium Beta Launch Is Almost Here
Shibarium Network, the official Twitter account for the Shibarium blockchain, in a tweet on January 16 revealed that the preparation for the Shibarium Beta launch is almost complete. The Shiba Inu community will get the Shibarium soon.
“Introduction to Shibarium: Shiba Inu’s Layer 2 Network — Rejoice #ShibArmy! Shibarium Beta is about to be launched, and through this article we want to introduce some basic concepts in order to provide clarity to the community.”
The Shib Inu ecosystem’s official accounts and core developer Shytoshi Kusama have been dropping hints about the launch of Shibarium in early 2023. The Shiba Inu team in an official blog revealed some basic concepts about the Shibarium blockchain and its launch.
While a final date for the Shibarium Beta launch is not revealed, the team said “we are approaching the finishing touches for Shibarium’s Beta launch.”
Shibarium’s Layer 2 blockchain will solve the problem of scalability and performance limitations of current existing blockchain networks. The SHIB ecosystem tokens SHIB, LEASH, and BONE will be the only tokens required for the Shibarium. It will have advantages in the metaverse, NFTs, dApps, and gaming, with the evolution of Web3.
Validators and delegators will have an instrumental role in the Shibarium blockchain. Validators will improve security by locking BONE tokens and operating Heimdall Validator and Bor block producer nodes.
As earlier announced, BONE will remain the only token selected to pay for gas transactions and reward Validators and Delegators within the Shibarium protocol. Moreover, all transactions on the Shibarium network will burn more SHIB tokens, which will drastically reduce SHIB circulating supply.
SHIB and BONE Price Skyrockets
Shiba Inu (SHIB) price jumped nearly 6% in the last 24 hours and over 20% in the last 7 days, with the price currently trading at $0.00001079. The 24-hour low and high are $0.00000985 and $0.00001099, respectively.
Meanwhile, Bone ShibaSwap (BONE) price skyrocketed over 15% in the last 24 hours. The BONE price is currently trading at $1.39, after hitting a 24-hour high of $1.42.
Also Read: Bitcoin (BTC) Whale Addresses Contribute to Recent Rally Above $21K, What’s Next?
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.