Developer Shytoshi Kusama announced that the highly anticipated layer 2 blockchain, Shibarium, will launch soon.
The layer 2 technology aims to tackle scalability and data congestion issues by utilizing off-chain solutions independent of layer 1 protocols. It involves consolidating multiple off-chain transactions into a single layer 1 transaction. Thus, it is reducing data congestion and transaction fees.
Shibarium’s Unveiling Plans
Kusama plans to unveil the Shibarium during several prominent events in Canada in August. These events are Blockchain Futurist Conference, ETHToronto hackathon, and ETHWomen hackathon. At that point, we want to emphasize that NFT Horizon is a media partner of Blockchain Futurist Conference.
The timing of these events coincides with Shiba Inu’s 3rd anniversary, celebrated as Shibapendence Day. At the conference, Shibarium will take center stage, serving as a key highlight of the gathering.
Participants can expect an extensive hackathon that will delve into the various features and capabilities of Shibarium. The event will also showcase two exclusive booths, a VIP cabana, and an extensive range of Shib-themed products, platforms, and services.
During the conference, Kusama will deliver a virtual keynote speech, sharing valuable insights into the vision and goals of Shibarium.
In the past few months, the Shiba Inu team has been working on Shibarium. This project culminated in the recent launch of the testnet known as PuppyNet. According to Puppyscan, the designated explorer for Puppynet, the Shiba Inu layer-2 test network has witnessed a significant surge. These include transactions, total blocks, and the quantity of wallet addresses linked to it.
Additionally, during Blockchain Futurist Conference, the Shiba Inu team will reveal the finalized World paper. One of the notable highlights of the conference will be the establishment of the Shib Doggy DAO Foundation.
Shytoshi Kusama elaborated on the governance structure of the Shib community, which will consist of four distinct DAOs. Each of these DAOs will assume responsibility for overseeing specific aspects of the Shiba Inu ecosystem.
By implementing these DAOs, the Shiba Inu community aims to ensure equal representation and decision-making authority for all members. The unveiling of Shibarium is likely to attract innovations and usher in other solutions in decentralized finance.