The advantages of using Shibarium include higher transaction speeds, lower fees, higher token utility, and smooth decentralized application (DApp) development.
Despite its upgrade to a proof-of-stake (PoS) blockchain via Merge, the Ethereum blockchain still struggled with scalability, despite its strong security layer. Shibarium is also a PoS project, which will help Shiba Inu scale while keeping him connected to the Ethereum blockchain. Shibarium is expected to stabilize the value of SHIB and transform Shiba Inu into a value-added project with long-term prospects.
Let’s take a look below at 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 performance, allowing the project to handle significant growth. Shibarium is expected to significantly increase the speed of transactions, although users will have to wait a bit longer for accurate performance information.
lower rates
High transaction fees have been a problem for anyone transacting on Ethereum. Sometimes the fee is higher than the transaction amount. For example, you may have to pay a hefty fee of $50 worth of Ether (ETH) for a small transaction of $10 in value. The introduction of Shibarium’s Layer 2 solution is likely to make gas fees negligible.
complete ecosystem
As opposed to being a mere meme coin, the Shibarium ecosystem will be comprehensive, comprising various projects, including the SHIB metaverse, ShibaSwap DEX, and blockchain gaming. The metaverse and gaming are expected to attract users, while the DEX will provide better liquidity.
token utility
SHIB’s abundant supply, despite burning more than 40% of the tokens, has been a major obstacle to its growth. Shibarium handles this by featuring BONE as the native currency. When Shibarium takes off, validators on the network will be paid in BONE for securing and validating transactions. Furthermore, in the new ecosystem, each transaction will consume SHIB, a mechanism to control the hugely inflated supply of SHIB.
digital application development
DApps are decentralized applications with back-end code that run on a decentralized peer-to-peer (P2P) network. The memecoin, however, simply did not have the means to act as a native DApp currency. Shibarium intends to develop a robust ecosystem comprising a layer 2 solution together with Ethereum. It will provide the technical capacity to create DApps within the ecosystem.
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