Shiba Inu will switch to its own blockchain this year
By Alex Panasenko 2121 29 Jun 2022
The main meme project of the world continues its active expansion, which not only enthuses the devoted Shiba Army but also astonishes crypto dinosaurs: why did the “shibanauts” need their own platform?
The SHIB team and Unification programmers announced that Shibarium – a “custom” L2 protocol on Ethereum – will be ready for beta release as early as the third quarter of 2022. Before that, the network passed through several months of testing in a private alpha testnet.
The public start of the Shibarium beta phase coincides with a number of updates (FUND TestNet/IBC/Gravity/wFUND). It is also reported that the testnet will allow participants to fully interact with the mainnet, including the validation process.
Shibarium’s architecture will be based around advanced xFUND technologies and the automated market maker Oracle of Oracles. The main tool being worked on is called a mobile wallet, in which all the ecosystem’s functionality will be integrated. It will include DEX in the next release.
Acknowledging all the significant results that SHIBA has achieved over the past year, we have to ask ourselves: what was the real goal of such an “optional” task as developing its own protocol for a project created as a parody of another meme (Dogecoin)? And we feel that the high commissions of Ethereum or scaling issues are not the reason at all. The reason is ambition.
SHIBA made some good money in 2021 (putting it mildly). Now it is investing the funds in closing all cryptocurrency gestalts that exist on the modern market, namely: its own decentralized exchange (ShibaDex), the metaverse (Shibaverse), the NFT game (Shiba Inu Game), the sponsorship of big sports events (football, Formula 1) and marketing collaborations (London Underground or John Richmond).
As Bill Gates used to say, quick success is a lousy teacher because it makes smart people think that failure is impossible. The capitalization of the project over the past 7 months has fallen by almost 4 times, so the question of ambition, after last year’s meteoric rise to the TOP-10 of the most capitalized cryptocurrencies, may also be implicit technocratic kleptomania: to replenish the “cashier” is much easier when you constantly release new products.
The Shiba Inu Roadmap is like driving at night: you can see well ahead at the distance of headlights, and you can always make sure the quality of the road surface is acceptable, but you are not always sure where exactly this road leads.