Shiba Inu is one of the hottest topics in cryptos today. Just weeks ago, investors made amazing gains from the ‘DogeCoin killer,’ ironically from an Elon Musk-driven bull run. Perhaps this and the fact there was a record SHIB burn. However, there’s so much more to this meme token that was initially seen as a joke. It’s now becoming a metaverse ecosystem of its own with an entire subculture which includes millions of loyalists. Now, the next step of that ecosystem’s growth is almost here.
In fact, judging by the June 2021 medium post of The Unification Project, who’s developing that ‘next step’, the switch could happen at any moment.
“The Shibarium Public Beta TestNet is planned for deployment in Q3,’ wrote TUP about a 3rd quarter launch.
What is Shibarium — Layer 2 in Simple Terms
Written in layman’s terms, Shiba Inu is going to release a layer-2 technology for processing SHIB token transactions. That technology is called ‘Shibarium.’
Shibarium will use ‘Bone Shibaswap (BONE)’ tokens, instead of SHIB.
To understand this name and use, imagine a new generation of SHIB token holders being called dogfish. Shiba Inu’s moving all those dogfish to an aquarium or sub-ecosystem called Shibarium. And all transactions from the dogfish and their ecosystem will be handled by them, apart from those using SHIB tokens. The Shibarium is a totally independent transaction system.
That new transaction system is what’s referred to as “layer 2.”
Layer 2 is a mask with coding and technology that simplifies data before being pushed through to the Ethereum blockchain transaction system. Therefore, gas fees should be less on Shiba Inu transactions, done through this ‘Shibarium.’
SHIB vs BONE, What’s The Better Investment
Shibarium will be one of Shiba Inu’s first steps in gaining independence from the Ethereum blockchain and connecting the dots to coin utility.
In simple terms, Shibarium could be a first step in leaving behind ‘meme token’ status for the Dogecoin killer.
It’s also part of an ecosystem that’s aiming to move cryptocurrency users into forming a dependency on Shiba Inu. After or Post-Shibarium (PS), Shibarmy will have to utilize Shiba Inu’s wallet and BONE Shibaswap cryptocurrency to take advantage of the best feature.
Once users have BONE and a part of the Shibarium ecosystem, there will be additional products as well which can be had. And all of this is to increase daily transactions and get more SHIB sold.
In the end, Shibarium and BONE should increase the value of today’s token, SHIB. Perhaps this could be compared to how coins on the Ethereum Blockchain increase ETH value. Therefore, it’s more likely SHIB will remain the higher value token.
However, with Bone Shibaswap yet to have actual use, it cannot be counted out. Today’s price for a BONE token is $1.13, which is about 13-cents from its debut price. It’s ATH was $3.23 and ATL about 34-cents. The 9x difference between the high and low, before Shibarium’s launch reveals it too could skyrocket in value if the brand value trumps lateness in finding utility value.