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Shibarium Adoption Set to Skyrocket With Latest Addition

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Sat, 29/04/2023 - 12:30
Shibarium Adoption Set to Skyrocket With Latest Addition
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Shiba Inu enthusiast LucieSHIB has shared important information about Shibarium. Sharing screenshots, she wrote that the Shibarium bridge is partly functional.

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It should be recalled that Shibarium is currently in the beta phase of testing. Once fully launched, the Shibarium bridge is expected to boost Layer 2 utility.

The Shibarium documentation gives an overview of the Shibarium blockchain. This consists of the Shibarium PoS chain and the Ethereum + Shibarium bridge.

Side chains are used by Shibarium's PoS (proof-of-stake) chain to process transactions, resulting in faster transaction speed and cost-effectiveness. By utilizing the Plasma Bridge technology and a decentralized network of PoS validators, PoS would also ensure asset security.

Shibarium bridge likewise utilizes Plasma and PoS security and enables a bi-directional transaction environment between Shibarium and Ethereum.

The bridge would allow users to transfer tokens between the two networks without any third-party risks or impact on market liquidity and also serve as a scaling solution.

While prioritizing speed and decentralization, the bridge enables arbitrary state transitions on its sidechains along with EVM support.

Currently, there are over 450,000 ERC-20 tokens on Ethereum. The bridge, which would support ERC-20 tokens, might bring increased utility to Shibarium once it is launched.

BONE scores new exchange listing

Shiba Inu's BONE has once again scored a new exchange listing, adding to the slew of listings recorded in the week. Australian-based Hotcoin Global has announced the listing of BONE ShibaSwap (BONE), the Shiba Inu governance token.

Related
Shiba Inu's BONE Gets Listed on This Crypto Exchange: Details

Remarkably, this would mark BONE's sixth exchange listing in days. As reported, the Deepcoin exchange announced BONE listing as well as OKX, Huobi Global, CetoEX and Flitpay crypto exchanges.

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