The much-awaited Shibarium scaling solution from the core developers of the Shiba Inu memecoin project has finally launched on the mainnet.
Shiba Inu has actually made history as the first memecoin with a highly diversified pivot from being a mere fun token with the emergence of Shibarium. Drawing on the massive anticipation from the community, the Shibarium launch has been tagged by some stakeholders as a wait that is worth the while.
The Shibarium mainnet launch follows from the core schedule from the lead developer Shytoshi Kusama who confirmed weeks ago that the Ethereum-based Layer-2 scaling solution will be launched at the ongoing Blockchain Futurist Conference in Canada.
“The Shibarium mainnet is now ready to on-board millions who are interested in shaping a new future that honors the principles of decentralization,” developers said in a statement.
The journey toward the launch of Shibarium was a very long one that was preceded by the emergence of PuppyNet, the L2’s testnet. PuppyNet served its purpose and showcased how well it can support the troves of Decentralized Applications (DApps) and user count that contributed to its design.
Several milestones in usage were recorded by the Shibarium Testnet of which feedback obtained was used to perfect the final product that has finally been opened to the public today. The motivation behind the Shibarium protocol has been largely hinged on community and decentralization, two key considerations that Kusama said, in his keynote speech at the Conference, are a major prerequisite to building the “Everything App” most developers are building.
Shiba Inu and by extension, Shibarium embodies these tenets, signifying the protocols to take on major competitors in the space.
Against the general expectation and projections from pundits, the launch of Shibarium on the mainnet is not fueling a corresponding bullish rally in the price of Shiba Inu (SHIB). The memecoin is still changing hands at a price of $0.00000931 with a sustained 7.18% valuation dip at the time of writing.
As a volatile memecoin, the token may just be warming up to the positive news and the outlook may change in a short while as Asian markets awake.
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