- Shytoshi Kusama announces the launch of the layer 2 scaling solution built on Ethereum, Shibarium.
- The announcement was delivered at the Blockchain Futurist Conference in Canada.
- Shibarium is built on a community-focused and environment-friendly PoP consensus mechanism.
Shiba Inu ecosystem officially announced today the launch of the much anticipated Ethereum layer 2 blockchain, Shibarium. The lead developer and co-founder of the ecosystem, known by the pseudonym Shytoshi Kusama, unveiled the launch of Shibarium, at the Blockchain Futurist Conference in Canada.
Kusama pinpointed the necessity of encompassing “community and decentralization” in the promising crypto and blockchain projects. Shibarium is built on a community-focused and environmentally friendly consensus mechanism called the Proof of Participation (PoP). Assuring that Shiba Inu’s project is rooted in the “intersection of those two principles”, he stated,
Any such promise absolutely must start at a place of both community and decentralization. As part of one of the most popular cryptocurrencies on the planet, Shibarium lives at the intersection of those two principles in a way that eludes most other technologies, even many other blockchains.
With the launch of the layer 2 scaling solution, the platform underscores Shiba Inu’s transition from a memecoin to its own blockchain network. As per the press release, Shiba Inu’s new blockchain ecosystem is built on a sturdy foundation of both validators and delegators. While the validators ensure the network’s overall security, the delegators provide support. Both validators and delegators are awarded the ecosystem’s governance token BONE as a reward for participation.
The highly anticipated Shibarium launch follows a series of trials and testnets. Towards the end of July, a Shiba Inu team lead Lucie, announced the live public testing of the Shibarium Beta Bridge, marking it as the second testnet. Following the trials, the platform boasts a larger community with more than 21 million user wallets created.
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