The highly anticipated layer-2 scaling solution of popular meme asset Shiba Inu (SHIB) is releasing a beta bridge for public use.
According to SHIB marketing specialist Lucie, Shibarium’s revolutionary cross-chain bridge is now online and available for public testing. However, Lucie warns users not to use their real crypto assets to test out the bridge.
“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! Only faucets.”
The bridge, which utilizes both Plasma and proof-of-stake (PoS) technology, will allow users to shift tokens between Shibarium and the leading smart contract platform Ethereum (ETH), as well as serve as a scaling solution itself.
“Moving between two large-scale blockchain networks requires a secure and robust cross-chain bridge, and Shibarium has achieved this by utilizing both Plasma and PoS security to create a trustless and bi-directional transaction environment between Shibarium and Ethereum.
This enables users to transfer tokens between the two networks without any third-party risks or impact on market liquidity. The network bridge is designed to be fast, cost-effective, and flexible, and also serves as a scaling solution.”
Last month, Lucie detailed the benefits of Shibarium, including its impact on the project’s gas fee token Bone ShibaSwap (BONE), as well as the SHIB token itself.
“The reduced gas fees on Shibarium can have a significant impact on BONE, increasing its demand and potential value…
Shibarium significantly impacts the SHIB ecosystem by introducing a burning mechanism that reduces the supply of SHIB…
This burning mechanism has several key benefits. Firstly, it introduces deflationary aspects to SHIB tokens, reducing the supply over time. This can potentially benefit token holders through increased value and scarcity. Secondly, it helps maintain the supply-demand balance within the SHIB ecosystem.”
SHIB is trading for $0.000008 at time of writing, a fractional increase during the last 24 hours.
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