Recently, the market has picked up. Local hotspots began to emerge, and SHIB achieved a one-day increase of about 20%. Not only that, but the tokens of the SHIB ecology have also increased considerably, and the market prices of BONE and LEASH have risen rapidly. The current rise of the SHIB ecology has begun to take shape as early as a few days ago.

On January 16, Shiba Inu officially announced that the Beta version of Shibarium, an Ethereum Layer 2 solution, will be launched soon.

secondary title

As the oldest meme coin, DOGE coin once derived an EVM L1 chain DogeChain named after DOGE.

As the oldest meme coin, DOGE coin once derived an EVM L1 chain DogeChain named after DOGE.

The origin of DogeChain is not "orthodox". The chain was developed by community members and has not been recognized by the Doge community. The Doge community also issued a statement and ridiculed the project as a "fake project". However, with the help of Doge's strong popularity and strong influence, this project also briefly ignited the enthusiasm of investors in the bear market in the early stage of its launch, and the TVL once reached 23 million US dollars.

This time SHIB is different. Shibarium is officially announced by SHIB, there is no hidden worry about "Li Gui", and it is more empowered by the SHIB community.

As for the gas currency that is more concerned by investors,BONE was chosen by the development team as the token for gas payments and validator voting.The total supply of BONE is 230 million, of which 20 million are reserved to reward validators and delegators in the next few years.

secondary title

And when we turn our attention back to the project itself, perhaps the fundamentals of the project are an issue that deserves more attention.

What is Shibarium?

Different from the currently popular PoS consensus, Shibarium adopts the DPoS (Proxy Proof of Stake) consensus. In this consensus mechanism, not all network participants are able to validate transactions and create blocks, instead a select group of validators are selected through a voting process. Individual users can delegate voting rights to validators of their choice by voting.

Different from the currently popular PoS consensus, Shibarium adopts the DPoS (Proxy Proof of Stake) consensus. In this consensus mechanism, not all network participants are able to validate transactions and create blocks, instead a select group of validators are selected through a voting process. Individual users can delegate voting rights to validators of their choice by voting.

A verifier needs to pledge a certain amount of BONE to become a verifier.Validators, on the other hand, use the combined voting power of all delegators to help secure the network and process validation transactions.

The SHIB team believes that this mechanism is more effective than PoW and PoS.

It is worth noting that although the gas currency is designed as BONE,But every transaction executed on Shibarium will burn a certain amount of SHIB。secondary title

How far can SHIB go with the "overwhelming" Layer 2?

With the arrival of the upgrade of Ethereum Shanghai, the issue of Ethereum expansion has once again returned to the focus of market attention. After construction in recent years, although the Layer 2 track is still undergoing rapid changes, the market structure has initially emerged.

From the perspective of technical routes, there are currently five main routes for Layer 2: state channel, sub-chain plamsa, side chain, rollup and Validium. At present, Layer 2 star projects that have received much attention include Optimism, Arbitrum, zkSync, Polygon, etc. Both have built a relatively rich ecology.

No matter what technical route is adopted, Layer 2 is a relatively complex track that tests the technical ability of the team. But looking back to SHIB, it is difficult for us to see optimistic information.

According to the information disclosed by the official blog,It is difficult for us to see which route Shibarium has adopted for capacity expansion, which innovative technologies have been developed, and which technical papers have been published.Is the technical reserve of the SHIB team sufficient to support a complete, safe, and easy-to-use Layer 2 expansion solution? In terms of transparency and disclosure, Shibarium may be far behind its competitors.

And the team did not give a more specific release time. For all questions related to the technical implementation time frame, the team's reply is generally "soon".

According to Dune data, the current total recharge of the four major Layer 2 bridges is about 2.77 million ETH, or about $4.2 billion. ShibaSwap’s $33 million TVL pales in comparison. Eager to occupy a higher "higher" ecological niche may also be one of the reasons why SHIB is trying to enter the Layer 2 track.

Meme or Tugou project, through popularity, specific community culture, high exposure and sense of presence, may bring funds and liquidity to the project in a short time. However, such projects are easy to release, and the maintenance cost is not high. With FOMO, the degree of community autonomy is also very large, and it does not require too much effort to maintain. However, the "golden period" of these projects is not long, and they are not a good choice for speculation, let alone an all-in choice.

Here, Odaily reminds investors that compared with project coins, the operation of Layer 2 requires stronger technical capabilities, long-term development and maintenance, and ecological support. If you only rely on publicity to attract popularity, there may be a higher risk.