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Shibarium Adoption Set to Skyrocket With Latest Addition

Sat, 04/29/2023 - 12:30
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Tomiwabold Olajide
Shibarium is currently in beta phase of testing
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.

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.

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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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.