In short, Shibarium is a 'Layer 2' blockchain network built on the main Ethereum network. Think of Ethereum as a main highway with a lot of traffic, which sometimes causes transactions to be slow and expensive. Shibarium is like an additional lane built on that highway to ease the traffic.
The main goal of Shibarium is to improve the scalability and efficiency of the Shiba Inu ecosystem. This means it aims to make transactions faster and cheaper.
What is its benefit for Shiba Inu holders?
The creation of Shibarium brings several important benefits for SHIB token holders:
Faster and cheaper transactions: By moving transactions from the Shiba Inu ecosystem to Shibarium, the costs of transaction fees (gas fees) and the time it takes to confirm them are reduced. This makes it more practical to use SHIB for various activities.
Burning SHIB tokens: A part of the transaction fees paid on Shibarium is used to 'burn' (destroy) SHIB tokens. This reduces the total amount of SHIB in circulation, which, theoretically, can help increase the value of the remaining tokens in the long term.
Development of a larger ecosystem: Shibarium provides a foundation for developers to create new decentralized applications (dApps), games, and other projects within the Shiba Inu ecosystem. This gives SHIB and other ecosystem tokens greater utility, going beyond being a simple 'memecoin'.
Greater utility for the BONE token: The BONE token is used as a governance token and as a gas token on the Shibarium network. This gives it real utility and a purpose within the ecosystem, allowing BONE holders to participate in decision-making.
In summary, Shibarium is a key step in the evolution of Shiba Inu, transforming it from a simple meme cryptocurrency into a more serious and functional blockchain project. It offers tangible benefits to token holders through reduced transaction costs, token burning, and the creation of a more robust and useful ecosystem.
Luis Ceballos Bisamón
