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.
BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.