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Mainnet Launch: Shiba Inu's Shibarium Ethereum L2 Blockchain is Now Live

Mainnet Launch: Shiba Inu’s Shibarium Ethereum L2 Blockchain is Now Live

During its beta phase, Shibarium attracted 21 million wallets on its L2 platform, generating significant user interest ahead of its launch. Shibarium is an Ethereum layer-2 scaling solution that utilizes a new consensus mechanism called proof-of-participation (PoP). This mechanism selects validators based on their cryptocurrency holdings, reducing the computational cost associated with proof-of-work schemes. The mainnet launch of Shibarium aims to provide a more scalable and cost-effective transaction platform that interacts with the primary Ethereum layer-1 blockchain. Despite experiencing a decline in value during the bear market, Shiba Inu (SHIB) gained popularity in the bull market of 2020-2021 and built a decentralized ecosystem around its cryptocurrency. Prior to the mainnet launch, over 100 companies were already developing on Shibarium. The lead developer emphasized the importance of community and decentralization in the development of innovative technologies. Shibarium will utilize the Heimdall validator and Bor block production nodes, similar to the Polygon ecosystem, to maintain decentralization. Validators in the Shibarium network must lock 10,000 BONE tokens, and rewards will be distributed among validators and delegators.

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