According to Shiba Inu developers, the highly anticipated Shibarium blockchain is set to release a beta version of its Layer 2 network this week.
Shiba Inu Layer 2 Blockchain Shibarium Launches Beta Version
A beta testnet is a blockchain that mimics how things work in the real world. Layer 2 refers to a set of autonomous systems (separate blockchains) built on top of Layer 1 protocols, reducing scale and data bottlenecks. Thereby, combining multiple off-chain transactions into a single Layer 1 transaction helps reduce data load and fees.
Earlier, Shiba developers have stated that Shibarium will focus on the metaverse and gaming applications, especially as the non-fungiblen token (NFT) sector is expected to grow in the coming years. The launch could help lay a solid foundation for the company, which formed in a previous bull market in the form of a Shiba-themed memecoin and has since attempted to pose as a serious project with its own blockchain network and dapp -position ecosystem.
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