Shibarium is a blockchain/layer-2 solution first proposed by Ryoshi, the creator of Shiba Inu Coin. Once it launches, SHIB tokens will be migrated to the L2.
Ryoshi initially used the phrase blockchain, Shibarium is more likely to be an L2 that sits on top of an already existing (ETHereum) blockchain. The SHIB creator said in his now-deleted blog post: “The line between an L2 and own blockchain is thin, I mean what is the difference really between Matic L2 and BSC?”
It's worth noting here that Shibarium is not its own blockchain, nor does it mean there is a Shiba Inu 2.0 token coming. Shiba Inu will remain connected to ethereum.
One of the primary goals will be to lower transaction fees for those in the Shiba ecosystem. In a blog post by its developers, Unification said transactions would be "approved in seconds for pennies".
Ryoshi first said that Shibarium’s transaction fees will be minimal, or even zero. Speaking on the Shiba Discord, Shytoshi Kusama, the Shiba Project Lead, said “Shibarium will offer low fees for every service, game or whatever that builds on it.”
High gas fees is one of the most pressing issues faced by Ethereum. Given Shiba’s reliance on the Ethereum network, it suffered from some hefty gas prices when the Shiboshi NFTs launched.
Shytoshi even touted the advantages of the L2 on Twitter, following backlash to the Shiboshi release.
As with other projects, the Layer-2 will feature some kind of SHIB burning mechanics to burn SHIB. It could also act as a bridge for other ecosystems, according to one Shibarium sneak peek.
External developers will also get the chance to develop on top of the L2 pretty soon via the Shibarium Hackathon. This event, according to Shytoshi, will grant successful teams fund to build on Shibarium.
