Shiba Inu partnered with decentralized oracle network Chainlink on Thursday in an effort to expand its ecosystem.
What happened: The partnership involves integrating the Chainlink standard for blockchain interoperability as the underlying cross-chain infrastructure for Shibarium, a layer 2 blockchain for the Shiba Inu.
Additionally, the Cross-Chain Token standard will make tokens from the Shiba Inu ecosystem, such as SHIB, Doge Killer (LEASH), and Bone ShibaSwap, accessible across 12 different blockchains.
The mysterious leader of the Shiba Inu breed, Shytoshi Kusama, called this development 'huge news' for the ecosystem.
“Expect much more from this partnership,” said Kusama in typical Shiba Inu jargon.
For the curious: Chainlink acts as a bridge between the blockchain and the outside world, allowing smart contracts to access data and events from sources outside the blockchain. Based on Ethereum, the flagship cross-chain interaction protocol of the platform enables developers to create applications that can send tokens and messages across the blockchain.
Why this matters: Integrating the Chainlink standard could enhance the accessibility of Shiba Inu assets, potentially leading to increased demand. The integration might also unlock more industry use cases for Shibarium, the growing layer 2 solution.
Earlier this week, Shiba Inu announced the distribution of its recently launched meme coin Shifu (SHIFU) for its loyal community members. A significant portion of the supply was reserved for holders of SHIB, BONE, and LEASH.