SHIB and BONE suffered a decline after news emerged about Shibarium chain ID.

SHIB has, however, recovered while BONE continues to struggle after plans of new Beta redeployment came to light.

After initial worries were voiced regarding the chain, the Shiba Inu Shibarium testnet, also known as the Puppy net, caught up without a hitch. With what appeared to be a clarification, the tokens also looked to be on the road to recovery from the FUD surrounding them.

There was some disagreement in the Shiba Inu community earlier in the week after the debut of the Shibarium. One of the community members noticed that the Layer 2 network (L2) was using the chain ID for an unrelated project. Due to the lack of prompt action, these worries had a detrimental effect on the price movement of SHIB and BONE.

Addressing the Shiba Inu FUD

One of the main Shiba Inu developers addressed the confusion with the chain ID when the worries were raised, and the accompanying Fear, Uncertainty, and Doubt (FUD) set in.

Kaal Dhairya said in a tweet that the chains chosen for the Alpha network rollout were randomly chosen. According to him, the chains were not reviewed before final deployment but were not registered to any projects when they were selected.

He continued by announcing the intended deployment of a new version of the Beta network with a new chain ID.

The state of the Shiba Inu Shibarium and SHIB active address

A scan of the L2 testnet with puppyscan showed that activities had ramped up. With an average block time of 5.0 seconds as of this writing, it had generated over 400,000. Also, it had already performed more than 2,500 transactions and had more than 2,500 wallets registered on the network. 

A rise in Shiba Inu (SHIB) addresses was also visible in the lead-up to the release of Shibarium, as measured by Santiment’s active address statistic.

As of this writing, there were approximately 31,000 active SHIB addresses, which showed that it had maintained its previous level of success.

#SHIB #shibainu #bone #koinmilyoner #GPT-4

Bone ShibaSwap ($BONE), one of the three main tokens within the Shiba Inu ($SHIB) ecosystem, has been listed on a major cryptocurrency exchange backed by the founder of Tron ($TRX) Justin Sun.

Poloniex, the crypto exchange in question, announced that it is listing BONE, a cryptocurrency that will be used to pay for the gas fees of Shibarium, Shiba Inu’s highly anticipated Ethereum-based layer-2 scaling solution.

The token is known to be central to the ecosystem’s decentralized exchange ShibaSwap, and according to Coinbase, it’s a “governance token that aims to allow the Shiba users to vote on the upcoming proposal on Doggy DAO,” which is the ShibaSwap platform’s decentralized autonomous organization.

ShibaSwap allows BONE token holders to earn rewards for providing liquidity to the network, with users being able to swap their ERC20 tokens for other coins through it. BONE token holders can also stake on the platform to earn interest.

BONE is also central to Shibarium, as the team behind the platform has confirmed that every transaction on it will require BONE to pay for gas fees, and will burn SHIB to make the latter more scarce.

The token’s price has been rising ahead of the expected launch of Shibarium. Shibarium will work alongside Ethereum to process transactions on the Shibarium ecosystem. It will take a large cut of the transaction load the Shiba Inu ecosystem currently brings onto Ethereum to process it on the Shibarium chain.

As CryptoGlobe reported, the rise has seen BONE become a top 100 cryptocurrency earlier this month. The addition of BONE to Poloniex’s listing is a significant development for the Shiba Inu ecosystem, as it opens up new avenues for investors to get involved.

#bone #SHIB #koinmilyoner #buildtogether

A beta version of Shiba Inu’s (SHIB) highly anticipated layer-2 scaling solution Shibarium is officially live.

The pseudonymous developer in charge of the project, Kusama, says his team has flipped the switch and early beta testers can now use the testnet.

However, he warns crypto traders that tokens on the testnet, which has been labeled the Puppynet, are not in any way investments.

“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 available here.

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.”

Shibarium is an Ethereum-based layer-2 blockchain similar to Polygon (MATIC).

It’s designed to allow developers to create fast, inexpensive and highly scalable applications.

The project was first announced in May of 2021 and has been in steady development ever since.

Once the beta test is complete, the platform will spawn a new ecosystem of custom tokens that can be traded using Bone ShibaSwap (BONE) to pay for gas.

#SHIB #bone #koinmilyoner #buildtogether #memes

The lead developer of Shiba Inu (SHIB) is denouncing the spread of fear, doubt, and uncertainty (FUD) as the crypto project launches the testnet of Shibarium, its new layer-2 project.

In a new blog post, pseudonymous SHIB developer Shytoshi Kusama aims to debunk a rumor allegedly started by a competitor that Shiba Inu creator Ryoshi is in fact Sam Bankman-Fried, the disgraced founder of bankrupt crypto exchange FTX.

Citing two pieces of “meme evidence” – his love of professional wrestling and his disdain for centralized exchange networks – Shytoshi says it’s not possible for Ryoshi to be Bankman-Fried.

“The biggest FUD and FUDDER goes to a dude making a competing product trying to convince you that [Sam Bankman-Fried] is Ryoshi. Now that the team, and everyone that ever saw Ryoshi post is done laughing, let’s give two pieces of meme evidence that this is not the case.

Ryoshi was a big fan of wrestling. WWF wrestling to be specific. He chose Gifs of people like Macho Man Randy Savage and Ric Flair! At one point we even considered getting Ric Flair for a Shib commercial. [Bankman-Fried] wasn’t even BORN at this time. So how could he even know how to step into a Slim Jim? More importantly, Ryoshi, as seen in his posts, was NOT a fan of centralized exchanges (CEX) and would NEVER have run one himself. Do better fudders, do better.

So, as we continue forward, and our former, and new frens attempt to attack the army, produce new FUD, and even YOUR projects… stay strong. We are building for a better future. WOO!”

The highly anticipated Shibarium project launched in its beta form last week. Its testnet, called “Puppynet,” does not support real crypto tokens yet, but the development team says once the beta is finished, the platform will create a new ecosystem where tokens can be swapped using the digital asset ShibaSwap (BONE) to pay for gas fees.

SHIB is moving for $0.000011 at time of writing, a 2% gain on the day.

#SHIB #bone #shibarium #shibainu #koinmilyoner