Shiba Inu Developers Working on Layer 2 Scaling Solution ‘Shibarium’

Share Article
In Brief
  • Discord screenshots from users show Shiba Inu developers talking about a 'Shibarium' Layer 2 scaling solution.

  • There is no timeline for its development or release.

  • Shiba Inu is also looking to launch Metaverse-related features, which would be helped by a scaling solution.

  • promo

    Deposit and make your first trade for up to $3,000 in rewards Get Started Now!

The Trust Project is an international consortium of news organizations building standards of transparency.

The developers of Shiba Inu are working on a layer 2 scaling solution, as noted in discussions over various communications channels. The project is also reportedly thinking about entering the Metaverse space.

The developers of meme coin Shiba Inu (SHIB) will launch a layer 2 scaling solution for the asset. The solution, called Shibarium, was put forward by Shiba Inu creator Ryoshi. Some users also posted screenshots of a discussion that took place over Discord.

Talks over the matter appear to be in the early stages, but it is also something that developers seem keen on. The whole change appears to be one part of a larger trend of evolution that the team wants to focus on.

They also note that Shibarium can’t “be silently dropped.” They refer to some things that have to be done, though details on this, and the whole upgrade, are scarce. The developers did not offer a timeline either, saying that providing a timeline wouldn’t ensure success.

The news comes as another interesting development takes place: 7% of the Shiba Inu holders were added in the last 20 days, according to blockchain data. That’s an interesting statistic, showcasing a lot of recent interest in the project, perhaps because of the rumors of new developments.

Shiba Inu’s developers also say that they will use Shibarium as opposed to having to wait for the ETH 2.0 upgrades that will arrive next year. Using a layer 2 scaling solution would greatly drop the fees of the network, though what it stands to gain as a meme coin remains to be seen.

Shiba Inu reportedly entering metaverse

But one potential application that could heavily benefit from a scaling solution is the metaverse. There have been rumors that the meme coin project is about to enter the metaverse. This would be in line with what so many other projects are doing, capitalizing on the interest in the niche.

The metaverse would require a reliable scaling solution to reduce fees and ensure fast transactions in a use case that sees heavy activity. The metaverse is already seeing some novel solutions employed, so it’s understandable that Shiba Inu is seeking to introduce a scaling solution.

How Shiba Inu will fare in the metaverse is open to debate, but it could do well with its meme status. The metaverse is exploding in popularity, so the time is ripe for such a project to consider it.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Share Article

Rahul's cryptocurrency journey first began in 2014. With a postgraduate degree in finance, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has guided a number of startups to navigate the complex digital marketing and media outreach landscapes. His work has even influenced distinguished cryptocurrency exchanges and DeFi platforms worth millions of dollars.

Follow Author

Make your first deposit and trade now to earn up to $3,000 in rewards!      

Join

UUEX airdrop: Sign up to get 50 USDT, you can Withdraw to Wallet

Sign up

Poloniex.com - Earn up to 30% staking rewards anytime with our mobile app

Install now