Shytoshi Kusama announces launch of highly anticipated Shibarium public beta: What to expect from SHIB?
- Shiba Inu layer-2 scaling solution Shibarium’s public beta is live in testnet form, dubbed puppynet.
- When Shibarium beta test is complete, the platform will open the ecosystem to custom tokens that can be traded using BONE to pay gas fees.
- Shiba Inu price made a comeback above the $0.00001034 level since lead developer Shytoshi Kusama’s announcement.
Shytoshi Kusama, the lead developer of the second largest meme coin by market capitalization announced the launch of the public beta of the layer-2 scaling solution. Shiba Inu price started a recovery post the announcement of Shibarium’s launch.
Shiba Inu scaling solution Shibarium public beta is live
Shiba Inu community’s long-awaited layer-2 scaling solution Shibarium’s public beta is live now. Lead developer Shytoshi Kusama announced the launch of the testnet for early users.
Introducing the Shibarium Early Public Beta! Find out about it, see the #shibthemetaverse WAGMI Temple area, and a a stop to the Ryoshi FUD here in this blog post. https://t.co/Dr3tAGl9PG
— Shytoshi Kusama™ (@ShytoshiKusama) March 11, 2023
The early beta testnet is called the puppynet and Kusama describes the scaling solution as a layer-2 blockchain that allows anyone to build dApps, integrate into in-real life businesses, and power projects with it. Shibarium is low cost, burns SHIB in the process, and is being adjusted as the beta test continues over the next few months.
Kusama shared a few key pointers with the SHIB army in the official blog post. Since SHIB token burn depends on the transactions in the network, the community can refer to the burnt SHIB chart on the burn portal. This is a part of the beta test for the scaling solution.
All tokens on puppynet are NOT REAL. Kusama warned users against using their Shiba inu on the tokens. Since projects can apply to be part of the testnet, the lead developer was candid in stating that many projects may not survive and users should Do Your Own Research (DYOR).
Shibarium testenet launch: Will it catalyze SHIB recovery or is it a sell-the-news event?
Following the announcement of the public beta, Shiba Inu price made a comeback above the $0.00001034 level, wiping out its recent losses. The meme coin has bullish potential and SHIB could begin its recovery. However, there are a large number of factors influencing crypto prices and sentiment among holders, including but not limited to the Silicon Valley Bank collapse, Silvergate FUD and inflationary pressures.
Find out more about it here: How contagious is Circle’s USDC contagion: Will US Fed bail out crypto-friendly banks?
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
