The creators of the Shiba Inu token (SHIB) recently revealed in their blog plans to create a second-level blockchain (L2), previously known as Shibarium. They said that the development process is on plan and that the new blockchain will be based on the Ethereum network.
This platform will offer users superior scalability and faster transactions with reduced fees. It will also give them more options when creating and trading non-transferable tokens (NFTs).
Network validators are responsible for setting the commission size, while delegates will take care of scaling security. Private network portals are expected to launch test tokens later.
Lead developer Shitoshi Kusama has already announced that Shibarium will launch soon.
As of January 16, 2023 cryptocurrency SHIB was trading at $0.0000107, with a market capitalization of $5.9 billion.
