What Is Shibarium?
First and foremost, Shiba Inu is built on the Ethereum blockchain and is solely an ERC-20 token. Ethereum allows other tokens to run and operate on their platforms and charge gas fees for transactions. The transactions include buying and selling a particular token of your choice on the ETH network.
However, the Ethereum network is plagued with high gas fees due to network congestion and investors need to shell more money to complete their transactions. Therefore, the layer-2 solution comes to the rescue.
Tokens can build their layer-2 solution on top of the Ethereum network and surpass its high gas fees. The point to be noted is that the layer-2 solution is not a standalone blockchain but runs on top of the Ethereum blockchain.
If implemented, Shibarium will be a layer-2 network for all transactions and will not depend on the ETH network. In other words, SHIB will have its blockchain, which is the layer-2 solution Shibarium.
Shibarium is expected to provide users with a reduction in gas fees and will be an in-house platform for transactions. This makes users save money and spend more on investments rather than paying high gas fees.
Article By: Vinod Dsouza
anyone can contribute.