Shibarium News: Shiba Inu (SHIB) developer Shytoshi Kusama on Saturday confirmed that the newly released Shibarium documents will mention be fixed to add that the Oracle used is the Unification/xFund. The documentation describes Shibarium as first proposed by Ryoshi, the creator of Shiba Inu as a blockchain, layer 2 solution. Shibarium, The Blockchain of “Teh People,” has been designed to provide a faster transaction speed and lower fees compared to other blockchains, it said.
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Shibarium Unification Oracle
In an update provided by Shytoshi Kusama, he said the new Shibarium docs are complete but will add that Unification/xFund is the Oracle used. In February 2023, Unification announced that the developers have been busy on Unification/xFund’s Oracle of Oracles (OoO) for the Shibarium Layer-2 blockchain. The documents distinctly described how the Shibarium’s Proof-of-Stake and the Ethereum Shibarium bridge work. While the Shibarium PoS chain utilizes side-chains to process transactions, while the bridge allows bi-directional transaction environment between Shibarium and Ethereum.
The developers claim Shibarium offers benefits like security, transparency, efficiency and cost effectiveness. Meanwhile, the Shiba Inu price dropped by around 2% over the week.
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On March 11, 2023, the developers released live the early Beta Test of the Shibarium Network called as Puppynet. This version offers information about network statistics, validator information and staking functionality.
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Shiba Inu News: Shytoshi Kusama On Unification In Shibarium Doc CoinGape
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Unification has released a new update for its much-anticipated layer-2 blockchain network Shibarium.
According to an announcement made by the developers of the L2 network, Unification, the alpha and public testnet of Shibarium are still scheduled to launch by the end of Q3 2022 (September end) or shortly thereafter.
“Unification’s advisory work with Shibarium continues toward the fourth successful alpha and public testnets, still in plans for end of the quarter release or sometime shortly thereafter.”
The Last xFUND has been emitted & a week remains for the final claims!
The doors to the next Chapter are almost wide open:https://t.co/8Get6dCR99
— Unification $FUND / $xFUND / $wFUND (@UnificationUND) September 14, 2022
Per the announcement, the major focus of the public beta testnet of Shibarium will be on the developer and delegator sector. The move will roll out a robust network that will serve the Shiba Inu community after the L2 blockchain is officially launched.
Additionally, the upcoming public beta testnet of Shibarium will also create a wider opportunity for open testing to enable the identification and fixing of bugs. Thus, making the layer-2 network have a safe and secured mainnet launch at the appropriate time.
“The initial public beta testnet will focus on the developer/delegator sector in order to enable a robust and ready network to serve the Shib Army once ready.
The public beta will also allow a much wider opportunity for open testing and bug fixing, ensuring a secure and streamlined mainnet launch.” Unification said in an announcement.
Shiba Inu Continues to Shred Its Memecoin Title
It is noteworthy that Shibarium is part of the many ways Shiba Inu intends to shed its memecoin title. The team behind Shiba Inu has been making significant progress toward shredding the title in recent months. Some of the projects Shiba Inu has released to this effect include non-fungible tokens (NFT), metaverse, etc.
Shibarium is an L2 blockchain that is being built on Ethereum. The network is tipped to match Polygon, an Ethereum-based layer-2 proof-of-stake (PoS) chain, in terms of functionality. Plans are on the way to deploying all of Shiba Inu’s projects, including the NFT, metaverse, and upcoming play-to-earn game on Shibarium.
Meanwhile, the fact that Shibarium’s public testnet launch date is around the corner did not impact the price of the cryptocurrency. According to data from Coingecko, Shiba Inu’s native cryptocurrency SHIB is currently changing hands around $0.00001210 and is down 0.8% in the last 24 hours.
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