Shibarium Beta Test Goes Live: What Should You Know?

Shiba Inu's (SHIB) highly anticipated layer-2 scaling solution, Shibarium, has launched in beta, according to the project's pseudonymous developer Shytoshi Kusama.

Shibarium is an Ethereum-based layer-2 blockchain that aims to enable the creation of fast, inexpensive, and highly scalable applications, much like Polygon (MATIC).

Kusama has confirmed that the early beta testers can now access the testnet.

Shibarium’s development has been underway since May 2021 and has been steadily progressing toward its beta launch. The project’s official RPC website is also available for early beta testers.

However, Kusama cautions traders that the tokens on the Puppynet testnet, where the beta takes place, are not real investments.

Users should not spend their hard-earned SHIB on these tokens, no matter how hard people, including shills, hype them up.

The launch of Shibarium’s beta marks a significant milestone in the project’s development, as it paves the way for creating a new ecosystem of custom tokens.

These tokens can be traded using Bone ShibaSwap (BONE) to pay for gas once the beta test is complete. Shibarium’s layer-2 scaling solution is expected to improve the efficiency and speed of Ethereum-based applications while reducing their costs, making them more accessible to users.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.