Shibarium embarks on becoming a powerful Layer 2 blockchain and a transitional evolution to the Shiba Ecosystem. Shibarium’s layer 2 is a collective blockchain that scales and invites solutions, innovation, and security to the Decentralized Finance Space.
This blockchain (L2) runs on top of the Ethereum blockchain, which the SHIB ecosystem tokens (SHIB, LEASH & BONE) utilize. A Layer 2 blockchain provides the benefits of scalability, faster transaction times, lower fees, and an expanded development framework.
With the evolution of Web 3, blockchain technology is starting to emerge into the commonplace. Some of the biggest obstacles to mainstream adoption are the cost and speed of transactions.
Shibarium’s Layer 2 blockchain protocols can serve different industry areas such as metaverse, web3 innovation, and gaming. This is primarily due to the commonality of scalability and performance limitations of current existing blockchain networks.
This layer aims, as a protocol, to work on top of existing blockchain networks, allowing for faster, cheaper, and more private transactions to be processed off-chain, while still relying on the security of the underlying blockchain.
This can help to reduce the load on the blockchain network and improve the user experience for metaverse and gaming applications. Combined, web3 and Shibarium's layer 2 blockchain technology can enable a new decentralized metaverse and gaming ecosystem, where players can interact and transact in a decentralized way and where players can own, buy and sell the digital assets they acquire.