An Update on Shibarium, Shiba Inu Ecosystem's Own Blockchain.
This is an update on our previous posts: Who Is Building SHIB’s Own Blockchain, Shibarium? and Shibarium (SHIB's Own Blockchain) Coming Out Soon!
Unification Foundation, the company that SHIB Development
Team retained to build out SHIB’s own
blockchain, Shibarium, recently released an update on Shibarium via a medium
post. According to their medium post,
the Shibarium Private Alpha TestNet has been created and it has been running
for a “number of weeks” now. This allows
their developers to create and test
tools such as wallet application on the TestNet. The wallet application “is intented [intended]
to be an all-inclusive application” allowing transfer of assets on L1 and L2
and between the two levels as well. As
we know, L1 is the Ethereum layer and L2 is the Shibarium layer that is being
created on top of L1 (Ethereum layer).
The wallet application they are creating will also allow
“staking/delegating” and integration with Shibaswap. Shibaswap will also be released on L2
(Shibarium) once the network is ready. Unification Foundation emphasized that Shibarium will be a secure and reliable network
because it is being built on their continuously improving of “well established,
battle-tested and robust technology with xFUND, and particularly Oracle of
Oracles (OoO)”. Their Oracle of Oracles
(OoO) will also play an important role as a Automated Market Maker (AMM) on
Shibarium. Automated Market Makers were created
to remove intermediaries in cryptocurrency trading. They are bots integrated into decentralized exchanges (DEXs) to carry out this function.
From Unification Foundation’s medium post, Shibarium Private
Alpha TestNet will become Public Beta TestNet in Q3 of 2022 (third quarter of 2022) if everything goes well as
planned. When the Shibarium TestNet becomes
public, this will allow other parties to fully test out the network and
interact with it; “including the validation process”. Another excellent news for the Shib Army!
Please feel free to read the original Unification Foundation's medium post below.
Disclaimer: Our articles are for educational purposes only and NOT financial advice. For your own personal investment decisions, please do your own research and consult a financial advisor. Good luck investing.
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