The development team behind Shiba Inu has announced a major advancement in the SHIB ecosystem. A bridge between the soon-to-be-launched Shiba Inu-based layer-2 solution Shibarium and Ethereum is now live for public testing.
This addition to the Shibarium network was first announced in April and has since progressed from being partially functional to being available for public use.
Revolutionary Shibarium Bridge Is Now Online For Testing
According to SHIB marketing specialist Lucie, the bridge between Shibarium and Ethereum has been launched in beta for public testing.
The Shibarium bridge, which uses both Plasma and proof-of-stake technology, will initially support testnet ETH and is expected to take up to 30 minutes for each transfer. The bridge is also envisioned to serve as a solution for scaling, an indispensable aspect for any blockchain network striving to handle huge transaction volumes without compromising speed or efficiency.
“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.”
As it is currently in Beta, Lucie has warned investors against using real tokens on the cross-chain bridge. Lucie also reminded users to always exercise caution and verify authenticity before connecting their crypto wallets to any website to avoid getting scammed and losing all their real digital assets.
Shiba Inu Price: Major Boom Ahead?
Lucie highlighted the advantages of Shibarium last month, including its effect on the project’s gas fee token Bone ShibaSwap (BONE), as well as the SHIB token. The slashed gas fees on Shibarium could propel the prices of these tokens as demand and potential value increase.
Unlike another popular meme coin Dogecoin, which runs on its blockchain, Shiba Inu is an ERC-20 token built atop Ethereum. This implies the Dogecoin killer is also subject to the Ethereum network’s development decisions.
With a market cap of over $4.8 billion, Shiba Inu is currently the world’s 14th biggest cryptocurrency. The SHIB price is expected to blast off after Shibarium goes live on the mainnet as the layer-2 network will transform the meme coin into a comprehensive ecosystem. Shiba Inu bulls anticipate the day SHIB will see a meteoric rise to the elusive $0.001 mark and eventually topple Dogecoin.