The Shibarium blockchain, which is expected to launch in 2022, is a second-level solution for the innovative Shiba Inu (SHIB) meme coin. In partnership with the Unification Foundation, the launch of the Shibarium blockchain will introduce a new protocol for the SHI stable coin. In addition, Shibarium will add new utilities to the Shiba management token, BONE.

The second-level Shibarium blockchain is an unfinished blockchain network developed by the Shiba Inu development team. By focusing on scaling the current network of Ethereum hosts, Shibarium will become a second-tier protocol, with faster transactions at a lower cost.

In addition, Shibarium will become a development platform for blockchain programmers, and the protocol itself will facilitate Shiba Inu NFT and Metaverse gaming applications.

In this article, we will delve into the Shiba Inu ecosystem, and consider the second-level solution of the Shibarium blockchain. Although the network has not been launched yet, we will discuss some of the functions and protocols that the team plans to present before launching.

What is the second-level solution of the Shibarium blockchain?
What is Shiba Inu?
Overview of blockchain technology and second-level solutions
Shibarium Blockchain Utility and Second-level Solutions
BONE
SHI Token
The future of Shibarium
Results

What is the second-level solution of the Shibarium blockchain?
After the successful launch of the Shiba Inu token, its founder Ryoshi is determined to expand the value of the token far beyond memcoin. Shiba Inu (SHIB) is a service token of ShibaSwap, a decentralized exchange (DEX) on Ethereum. At the end of 2021, Ryoshi announced its plans to develop a second-level solution for the Shibarium blockchain, and Shibarium, in turn, will include a new stable Shiba coin, SHI.

The name "Shibarium blockchain", however, does not accurately describe the infrastructure itself. Working on top of the leading Ethereum smart contract chain, Shibarium is a second-level protocol that optimizes the operation of the main chain. But there is confusion here as to whether Shiabrium will be a blockchain protocol or, nevertheless, a second-level protocol. But, since the line between the second-level solution and its blockchain is very thin, Shibarium intends to combine these aspects, as did Polygon and Binance Smart Chain (BSC).

Accordingly, the transaction process takes place "between the first-level chain and the second-level protocol". As a result, Shibarium aims to dramatically reduce the cost of transactions and interactions on the Ethereum network. In addition, it will help reduce network congestion when transactions are made by a large number of users at the same time.

The value propositions of the Shiba Inu token (SHIB) will theoretically increase with the advent and adoption of the new protocol. In addition, thanks to ultra-fast and inexpensive transactions, the second-level solution of the Shibarium blockchain is ideal for games and use cases of the Metaverse. Currently, the SHIB token works on Ethereum as an ERC-20 token, however, after the protocol is launched, the tokens will switch to Shibarium.

What is Shiba Inu?
Shiba Inu is a thematic cryptocurrency based on Ethereum, which has set a record of annual growth of almost 54,000,000%. Thus, Shiba Inu (SHIB) is more than just a memcoin with zero utility. So, investors who invested $ 2 in the purchase of SHIB at the beginning of the year will become millionaires after the blockchain is launched.

shiba inu

Founded by a developer under the pseudonym Ryoshi, the project strives for complete decentralization. The founder himself makes this clear in his blog, writing a post: "... I am nobody. I'm just some keyboard-tapping person who can be replaced. I'm just Ryoshi."

According to Etherscan, a blockchain research and analytics platform, there are over a million active wallets with SHIB tokens. Initially, the offer was one quadrillion SHIB tokens, 50% of which were stored in Uniswap.

The remaining half was sent to the wallet address of Ethereum co-founder Vitalik Buterin, who, during the pandemic, donated more to charity than his SHIB holding. Then he burned the remaining 40%.

The Shiba Inu ecosystem includes a decentralized exchange (DEX), a non-interchangeable tokens (NFT) gaming platform, and a Metaverse application.

In addition, in partnership with the Unification Foundation, which offers blockchain solutions for enterprises, the Shibarium blockchain second-tier solution will accelerate awareness, adoption and, consequently, the value of the Shiba Inu crypto asset.

Overview of blockchain technology and second-level solutions
Now we will briefly discuss the basic technologies of Shiba Inu, as well as what makes Shibarium a long-awaited addition to the industry.

Blockchain technology is a form of distributed ledger technology (DLT). Simply put, this means that there is a global community of computers (nodes) working together to verify and confirm transactions in a peer-to-peer network.

Thus, there is no need for any third-party intermediaries. As a decentralized network, it must receive a majority of votes for any protocol adjustment or update. Thus, the blockchain provides new opportunities for cryptographic censorship prevention in transactions.

All transactions are immutable, which means that they cannot be adjusted or deleted. As a result, blockchain technology offers its valuable use cases in a variety of industries, thanks to security, transparency and optimization of its accounting.

The first blockchain launched in 2009 was Bitcoin. The network is an exclusively peer-to-peer payment channel that sends funds from wallet A to wallet B. However, the launch of the Ethereum network in 2015 completely changed the landscape of the blockchain.

Ethereum has introduced smart contracts and a decentralized playground for developers to create, test, deploy and manage multiple applications (dapps). However, Ethereum, like most other blockchains, faces a common so-called "blockchain trilemma".

In other words, this means that blockchains are difficult to scale without compromising their decentralization or security.

As a result, there are many solutions for scaling Ethereum. Along with Ethereum 2.0 infrastructure upgrades to dramatically increase throughput, other scaling solutions include sidechains and second-tier networks.

Shibarium Blockchain Utility and Second-level Solutions
Despite the fact that the hype around the launch of Shibarium has not subsided since the summer of 2021, there is still very little accurate information about the infrastructure, specific technologies and the launch date. Nevertheless, we know that the second-level solution will help to scale the Ethereum network compatible with smart contracts.

The founder of the Ryoshi network stated in his blog that he plans to introduce a "minimum or even zero" transaction fee on the network. In addition, Shytoshi Kusama, the head of the Shibarium project, stated that "Shibarium will offer low fees for every service, game or anything else that is based on the network itself."

Two main tokens will help Shibarium achieve its goals: BONE and SHI.

BONE Token
In addition to the fact that BONE is a token for managing the Shiba ecosystem, with the launch of the Shibarium second-level solution, it will have new utilities. Shibarium will use BONE

According to CoinGecko, the maximum number of BONE tokens is 250,000,000, and the total number of tokens in circulation is 62,343,179. The tokenomic design for BONE should have an average stock of the Shiba ecosystem with three tokens (SHIB, LEASH and BONE).

After the launch of Shibarium, all holders of SHIB tokens will have access to exclusive opportunities to issue BONE tokens. The remaining SHIB and LEASH tokens will continue to perform their main functions on the ShibaSwap platform. Thus, all liquidity on Shibarium will use BONE as the base token.

SHI
SHI is a future stablecoin that will work on both Ethereum and Shibarium. The goal of SHI is to become a global means of saving, a unit of account and a medium of exchange.

Most stablecoins are pegged to $1. To ensure the availability of SHI for anyone anywhere in the world, its price is pegged to 0.01 US dollars. Thus, a stable coin will be able to facilitate payments in many different countries.

In the Shiabarium blog, Ryoshi states that they hope that SHI "will become a worldwide stable currency that ordinary people in all countries will be able to use as a means of saving and a form of payment."

The future of Shibarium
The head of Shibarium Shytoshi Kusama believes that the project will be launched within a year. A priority milestone for the Shiba Inu development team is the launch of the Oshiverse gaming platform. Available for iOS and Android, it will encourage the use of Shibarium tokens and attract the attention of the community.

Oshiverse is configured to work on the second-level protocol of the Shibarium blockchain. Hence, Shibarium must be launched before the hype around Oshiverse becomes an overwhelming solution for scaling Ethereum. In addition, it is rumored that some in-game tokenomics include the burning of the SHIB token, a reduction in supply and, as a result, an increase in value.

Another potential PR booster for the scaling solution of Shibarium may be the listing of Shiba Inu on the leading trading platform for retail investors Robinhood Markets (NASDAQ: HOOD). The SHIBArmy community has collected more than 500,000 petitions on Change.org for Robinhood to put SHIB up for sale. This will introduce the Shiba ecosystem and, consequently, Shibarium to a new audience interested in investments.

Results
The Shiba Inu project popularized a small Japanese dog breed, and also became one of the most popular cryptocurrencies in the world. Thanks to the recognition of entrepreneur and technical innovator Elon Musk, Shiba Inu (SHIB) has achieved record success thanks to rising prices.

Moreover, the anonymous creator of Shiba Inu, Ryoshi, is introducing a number of new protocols and applications, adding usefulness to his SHIB asset. The solution of the second level of the Shibarium blockchain is the next important stage in the development of the Shiba ecosystem.

Shibarium will use the Shiba management token, BONE, as the underlying liquidity asset, and after launching the second-level solution, Ryoshi will issue a SHI stablecoin. Unlike any other stable coin, SHI will have a stable peg to the price of 0.01 USD. This is done so that it can be used as a form of digital payment with microtransactions.

In addition, SHIB tokens are now an acceptable form of payment in the Newegg Commerce online store and the giant AMC Entertainment cinema. To further popularize the token, SHIBArmy leads an active and strong community for the Robinhood trading platform. As a result, Shiba is gaining popularity, thanks to which Shibarium is in great demand, and millions of crypto investors are already waiting for its launch!