Preparations surrounding the Shiba Inu layer 2 network are on a higher scale. A bridge connecting the upcoming Shiba Inu layer 2 blockchain Shibarium and Ethereum is live for public testing.
The developer team noted that the connectivity will enable customers to transfer tokens between the two networks seamlessly.
The Shibarium-Ethereum Bridge Enables Transfers of Testnet Ether Tokens
According to the Shiba Inu lead developer Shytoshi Kusama, the bridge will allow initial transfers of testnet ether tokens to Shibarium. The layer 2 blockchain solution is expected to kick off by August.
Shibarium Beta Bridge has gone live for public testing!
Be among the first to try out this revolutionary cross-chain solution.
Remember, always exercise caution and verify authenticity before connecting your wallet to any website.
PLEASE DO NOT USE YOUR REAL ASSETS!… pic.twitter.com/7yfhX8gQc6
— 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) July 26, 2023
Also, the developer stated that the expected transaction transfer period would be a maximum of 30 minutes. However, the bridge will still not support real assets as of Friday, July 28.
Shibarium-Ethereum, as the new solution blockchain, is expected to use some of the tokens within the Shiba Inu ecosystem. These include Shib, Bone, Treat, and Leash for projects developed on the ecosystem that would create a spike in their demand.
Layer 2 networks are off-chain systems or separate blockchains developed on the original layer 1 projects to facilitate their functionalities.
The layer 2 blockchains help resolve issues like slowness and enhance a system’s scalability. By bundling multiple transactions into one, the layer 2 blockchains cut down data load on networks and cost implications for users.
Notably, the decentralized organization run and governed by the Shiba Inu community, SHIB DoggyDAO, will strongly support Shibarium. It will commence operation at the launch of Shibariun and aid in funding blockchain applications.
Remarkable Performance By Shibarium Testnet
Part of the prominent preparations for the launch of the Shiba Inu Layer 2 solution blockchain Shibariun is the kick-off of its Beta testnet, Puppynet. The beta testnet has recorded tremendous performance following its launch on March 11, 2023.
According to data from the blockchain explorer Puppyscan, Shibarium Puppynet has hit more than 33 million in total transactions as of July 28. The testnet now boasts total blocks of over 1.88 million, with a single block added almost every second.
The network still maintains an average block time of 5 seconds. Also, the total wallet addresses on the network have reached over 17.06 million.
The recent achievement has sparked a more positive outcome for Shiba Inu and its price action. According to data from CoinMarketCap, the price of SHIB has surged by almost 10% over the past 30 days.
At 7:20 EST, SHIB is trading at $0.000007826, indicating a slight drop of 0.69% over the past 24 hours. Its 7-day price action shows a surge of 0.80%.
Following its previous rallies, Shiba Inu now ranks as the sixteenth-top crypto token with a market cap of $4.61 billion. It has surpassed Avalanche (AVAX) and Dai (DAI) in the ranking list.
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