This Is How Shibarium Might Become More Decentralized Than Ethereum

Shibarium, a layer 2 (L2) scaling solution developed by Shiba Inu, may eventually become more decentralized than Ethereum. Unification, the company responsible for developing Shibarium, has this as its goal.

Ringoshi Toitsu, a well-known validator of the Unification (FUND) network, expressed the objective in the tweet from April 5 (above), attaching a screenshot of an interaction between the Unification Foundation and a community member. The foundation was reportedly working on the Ethereum Virtual Machine (EVM) node operations, which would be the next significant area of centralization for Shibarium operations, according to the article.

Shiba Inu Relevance

Notably, the layer 1 (L1) technology on top of which Shiba Inu is constructed is Ethereum. Given that nodes are a crucial component of the Ethereum infrastructure, the development has significant implications for the meme coin. It allays worries about how centralized nodes are in Ethereum.

More than 70% of the top Ethereum apps are powered by just four centralized node providers, according to a Messari report published in the fall of 2022. Unification is aware of this and points out that most ETH nodes are provided by recent entrants to the controlled market, such as Alchemy, Infura, Moralis, and Quicknode. The technical stack of decentralized apps becomes vulnerable, according to Unification.

By utilizing FUND as the gas, the introduction of UNODE in 2023 offers developers and decentralized apps (dApps) a safer and more decentralized architecture.

Many also require card payments through dApps, making them identifiable and permissioned. As a result, you may locate them at any moment. A portion of the blog entry is as follows:

Unification’s UNODE addresses this Achilles’ Heel by democratizing, decentralizing, and incentivizing EVM node operations. In accordance with our ethos, this will be pure Web3.

UNODE is planned to debut before the end of 2023, a debut that will prove valuable for the SHIB ecosystem and bring special benefits to the FUND token.

Additionally, Unification will provide the Shiba Inu ecosystem with additional crucial infrastructure. The famous validator said that Unification’s technology includes the Oracle of Oracles (OoO) in an interview with Toitsu. In order to provide asset values in real time, our permissionless master oracle aggregates information from both centralized and decentralized exchanges in a singular way.

The OoO service will be deeply integrated into the SHIB ecosystem, claims Toitsu. Notable additions to the aforementioned ecosystem include ShibaSwap, Shiboshi NFTs, and Shibarium.

Shibarium’s Present State of Development

When questioned about the layer-2 scaling solution’s (Shibarium) current state of development, Toitsu responded as follows:

Unification is doing an excellent job with their technology for Shibarium, and no one else can match it. We are still in an early beta stage with a focus on delegating/staking. People know that BONE is gas, there will be REAL governance, and TRUE SHIB users will be able to earn rewards from using the blockchain.

Shibarium developers are not discouraged by claims of copied code

According to recent reports, there were speculations on Shiba Inu Discord around a week ago that claimed Shibarium’s devs took a quick cut to utilize the same chain ID as the Rinia blockchain uses. When former developers came forward to report mysterious changes to the code, the discussion turned chaotic and later got out of hand. Notably, these developers were later laid go.

These accusations don’t seem to have stopped the Shibarium creators, either. Similarly, it may be stated of the numerous other initiatives created around Shiba Inu (SHIB). Shiba Inu’s lead developer, Shytoshi Kusama, said that 500 validators have indicated interest in joining the network as of March 30. This is just one of several noteworthy events that have occurred on Shibarium.

Unification, the company behind Shibarium, has also announced ongoing plans for a cutting-edge wallet for the cryptocurrency. According to him,

« the wallet is an all-in-one solution that enables two-way asset transfers between the first and second layers, as well as includes staking/delegating and a ShibaSwap integration. »

The new wallet’s features include asset storage and fluid transfer.

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