- Shiba Inu official announces that the Shibarium Beta Bridge is live for public testing.
- The Layer 2 bridge will connect the Ethereum and Shiba Inu blockchains.
- SHIB and Bone saw an uptick in their prices following the announcement.
Ahead of its expected launch in August, the Shibarium Beta Bridge has gone live for public testing. Lucie, a Shiba ecosystem official, made this announcement on Twitter, marking the second time the bridge has been made available for public testing.
The Shibarium Bridge is a Layer 2 network designed to connect the Ethereum and Shiba Inu blockchains. Consequently, Shiba Inu users will be able to conduct transactions. Likewise, connecting the two networks will also allow users to transact without third parties or intermediaries.
Reacting to the news, Shibarium gas token Bone ShibaSwap (BONE) recorded a significant increase in its price. Data from CoinMarketCap shows that the token has further added another 0.24% in the last 24 hours.
Despite the excitement around the news, Lucie warned that users should be careful while using the bridge. He cautioned users to ensure they verify authenticity before connecting their wallet to any website. Likewise, since the bridge is still in its beta phase, he warned against using real assets on the bridge.
The Shibarium Bridge is expected to be a game-changer for the Shiba Inu ecosystem. The launch will transition Shiba Inu from being just a meme coin to a network offering diverse utilities and applications.
The bridge will support the development of ERC-20 tokens (NFTs) created and used by Ethereum. Likewise, the use of the Plasma Bridge technology and validators means users can transact on the bridge with minimal risks.
In addition, the bridge is expected to draw more attention to Shiba Inu and, in turn, increase liquidity to the network.
At the time of press, SHIB has seen a marginal decline in its price. In the last 24 hours, the token has dropped 1.03% to sit at $0.000007814.
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