Shibarium testnet on track for launch: Development team puts final touches on Ethereum-based platform

Shibarium testnet set to enhance ShibaSwap integration, increasing liquidity and transaction speed on Ethereum network

Shibarium, the Layer-2 blockchain built on top of Ethereum, is putting the finishing touches on its testnet, according to a statement from the development team.

- Advertisement -

Shibarium aims to facilitate transactions on the Shiba Inu network, offering low-cost and fast transactions, although the exact number of transactions per second has not been disclosed yet.

The team stated that the testnet’s launch date has not been specified yet, but the “finishing touches are approaching.”

Read Also: What Is The Shibarium that promises to pump up Shiba Inu (SHIB)

Shibarium will operate using a proof of participation and proxy mechanism (DPoS) and will be secured through validators and proxies who stake their tokens to receive rewards. U

sers will be able to burn SHIB tokens to complete transactions, which will put deflationary pressure on the overall SHIB supply.

Integration with ShibaSwap will be done in the mainnet release.

Previous Articles:

- Advertisement -

Latest

Pi, IMX, ZBCN in Focus as Key Token Unlocks Threaten More Losses

The crypto market experienced a sharp drop as Bitcoin fell from $111,900 to below $104,000, resulting in widespread altcoin declines.Investors are closely watching key...

Crypto’s “Inverse Cramer”: Trader Gains Millions Opposing James Wynn

A trader known as James Wynn became notable for a $1 billion Bitcoin short position on the Hyperliquid platform.Other crypto traders have started to...

Bitcoin Drops 10% From Highs Amid Quantum Computing Warnings

Bitcoin dropped nearly 10% from its record high, falling close to $103,000 after reaching $112,000 last week. BlackRock warned that advances in quantum computing could...

Czech Justice Minister Resigns Over $45M Bitcoin Donation Scandal

Czech Justice Minister Pavel Blazek resigned after controversy over accepting and selling Bitcoin from a convicted criminal.The Justice Ministry auctioned nearly 500 Bitcoin, raising...

Uniswap (UNI) Rebounds Above $6 After Brief Uptrend Breakdown

Uniswap's UNI token dropped below its key uptrend line following a failed hold above the $6.00 support level.High trading volumes accompanied the decline, including...

Must Read

9 Best Books On Ethereum And Blockchain Technology (Beginners And Advanced Readers)

Ethereum is a complex topic, and it can be difficult to know where to start learning about it.Even for people who are familiar with...