Shiba Inu to Launch Shibarium with Perks

Written by
Trevor Koverko
Published on
January 10, 2022

It might appear that Shiba Inu (SHIB) has taken a page out of Bitcoin’s mysterious playbook. The Shiba Inu token is a decentralized cryptocurrency created by an anonymous person or group called “Ryoshi.” Much like Bitcoin’s founder (or founders) has tried to maintain anonymity. According to The Indian Express, the cryptocurrency that “started off as a ‘meme’ is not a joke anymore.”

What was initially inspired by a dog meme saw its value skyrocket in 2021 and now SHIB developers are wanting to launch a Blockchain called Shibarium.

And it seems that the Dogecoin spinoff is gaining traction in its bid to be taken seriously – with it even seeing the most views of any cryptocurrency in 2021, recorded at more than 188 million views, while Bitcoin came in second place with 145 million views in 2021. SHIB is now the 13th largest cryptocurrency in the world, with a market cap of over $20 billion.

Shibarium plans to confront what has become a massive problem for the blockchain industry, the “gas fee” that is paid in order to process and validate transactions in a crypto ecosystem. If all goes according to plan, SHIB users will receive new perks like reduced gas fees, according to The Indian Express.

As explained in the article, creators of Shiba Inu want to launch their very own stable coin on the blockchain “called SHI that runs its gas fees on the site.” It is anticipated that this might actually improve the performance of the network and also help SHIB gain footing as a notable digital coin. A specific launch date has not been announced.

According to The Indian Express reporting, Ryoshi, Shiba Inu’s founder (or founders) wrote on Medium, “I have already spoken to a very competent blockchain team who has volunteered to build and fully decentralize this for the Shiba ecosystem.”

SHIB is currently found on the Ethereum blockchain, and the developer(s) are concerned that people would stop trading in the coin considering the growing demand.

“Right now every transaction on Ethereum costs over $9.1— and Shibarium aims to bring this down to as low as possible,” according to the article.

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