Shiba Inu (SHIB) is one of the most popular memecoins in the crypto space, but it is also a project with ambitious plans for the future. One of the most anticipated developments for SHIB is the launch of its own layer-2 blockchain, called Shibarium.
Crypto Community Awaits for Shibarium to Hit the Market
Shibarium is a layer-2 protocol built on top of Ethereum designed to create fast and inexpensive scalable solutions much like Polygon. It aims to enable anyone to create decentralized applications (dApps), connect them to real-world businesses, and use them to power initiatives that benefit the SHIB community.
The protocol will also have its own native token, called BONE, which will be used for governance and transactions on the network.
The first phase was the beta test of the Shibarium network, called PUPPYNET. It allowed users to test the functionality and performance of Shibarium, as well as to provide feedback and suggestions for improvement. PUPPYNET also served as a platform for testing the SHIB burning mechanism, which was tracked on the burn portal.
The second phase was the mainnet development phase. In this stage, the Shibarium team conducted security audits and made necessary adjustments to ensure the stability and reliability of the network. The team also worked on integrating Shibarium with other projects in the SHIB ecosystem, such as ShibaSwap, Shiboshi NFTs, and Shiba Eternity game.
The third and final phase is the mainnet launch phase, which is expected to happen in Q4 2023. This phase will mark the official launch of Shibarium as a fully functional layer-2 blockchain for SHIB and its related projects. Users will be able to access Shibarium nodes through various platforms, such as NOWNodes, which will provide fast and secure access to the network.
SHIB Army Tough Against Scammers
As the Shibarium team works hard to launch their own layer 2 blockchains, some scammers are trying to take advantage of the Shiba Inu community by creating fake Shibarium Tech websites. These websites aim to steal Ethereum from unsuspecting crypto holders who think they are accessing the official Shibarium network.
Fortunately, the Shibarium Watchdogs are always on the lookout for these malicious actors and have created a dedicated page for Shibarium-related phishing scams. Subbarium lists not only the fraudulent websites but also the shady projects that use Shiba Inu’s name and brand to lure investors into their pump-and-dump schemes, pretending to be part of the Shiba Ecosystem.
