Shiba Inu SHIB Announces Layer-2 Blockchain with Burn Mechanism

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• The developers of the dog-themed token Shiba Inu SHIB announced an upcoming beta release of Shibarium, a layer-2 network that will run on top of the Ethereum mainnet.
• This update will revolutionize the Shiba ecosystem by removing barriers to entry for small transactions, upgrading the speed, allowing the development of decentralized applications, and integrating nonfungible tokens.
• There will also be an implicit burn amount for SHIB token whenever a transaction is made within the network.

The developers of the dog-themed token Shiba Inu SHIB recently announced an upcoming beta release of Shibarium, a layer-2 network that will run on top of the Ethereum mainnet. The developers indicated that this update would revolutionize the Shiba ecosystem by removing barriers to entry for small transactions, upgrading the speed, allowing the development of decentralized applications, and integrating nonfungible tokens. Additionally, there will be an implicit burn amount for SHIB token whenever a transaction is made within the network.

The announcement made by the SHIB developers provided further details about layer-2 blockchains and the goal of the new update in its infrastructure. The team highlighted that Shibarium is being developed to provide a tool to allow the community to build and grow the project and fulfill its founder’s vision. They noted that while some may see Shibarium as a way to increase the memecoins price, this was not the project’s focus.

The developers also shared that the new update will feature one of the most-requested features for the project, which is a burning mechanism for SHIB. All transactions on the network will have an implicit burn amount for SHIB token. This mechanism will occur whenever a transaction is made within the network.

The team did not provide an exact date for the release, but they did reiterate that their answer to all questions relating to the time frame is “soon.” As such, the community is eager to experience the new update and its potential benefits.