March 12, 2023 3:42 PM | 2 min read
On Saturday, pseudonymous Shiba Inu (CRYPTO: SHIB) developer Shytoshi Kusama announced the launch of the beta version of the highly anticipated layer-2 scaling solution Shibarium.
In a blog post, Kusama stated that the testnet is now available for early beta testers to use, with tokens called Puppynet not being investments.
“All tokens on Puppynet are NOT REAL. Don’t spend you’re hard earned SHIBS on these tokens if you see them no matter how hard people, anyone, shills,” Kusama wrote, while also providing a link to the Ethereum scaling protocol.
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“For the TLDR people, this is an open early beta test so go ahead, you can access it now here! Shibarium official RPC website is accessible here,” he wrote.
Last week, Kusama hinted at the progress of the layer-2 project Shibarium. He noted in his Twitter bio that ShibaSwap is the only official decentralized exchange (DEX) for the SHIB and Shibarium ecosystem.
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ShibaSwap aims to provide a secure space for traders to trade their crypto assets in a decentralized environment.
Shibarium, on the contrary, is an Ethereum-based layer-2 blockchain similar to Polygon (CRYPTO: MATIC). It is designed to enable developers to create quick, economical, and highly scalable applications. The project was first announced in May 2021.
In other news, a crypto whale relocated 258,837,671,569 SHIB worth over $2.64 million to Shiba Inu’s smart contract, blockchain-tracking service Etherscan reported. The crypto whale reportedly still holds 4,925,361,871,313 Shiba Inu worth over $50.23 million.
At the time of writing, SHIB was trading at $0.00001032, dropping 8% in the last week.
