In a recent Telegram update, Shiba Inu's lead developer, Shytoshi Kusama, recently announced the completion of key components, including Wrapped Bone (WBONE), a token that makes BONE compatible with smart contracts and decentralized applications on the Shibarium network.
However, Kusama stated that the launch of Shibaswap, the project's decentralized exchange, will be delayed to allow other projects built on Shibarium to flourish first. The delay aims to ensure network stability and security but also signals that the team is carefully managing its growth.
Shibarium, Shiba Inu's Layer-2 scaling solution, is experiencing notable growth, with over a million wallets being recorded.
As reported by U.Today, the platform also introduced a new feature, a transaction scanner accessible at Shibariumscan.io, enhancing user experience by facilitating specific transaction lookups.
Following these developments, Kusama outlined the project's next steps. They include "renouncing the contract," a step that transfers control of the smart contract to a decentralized organization or multi-signature wallet to improve security.
Additionally, the project plans to increase the number of validator nodes, the computers that validate transactions, to further secure and decentralize the network.
The Shibarium project keeps gaining more traction following a rocky start and tons of FUD (fear, uncertainty and doubt).