Shiba Inu’s lead developer announces completion of key components and a delay in Shibaswap launch to prioritize network stability and support other projects on Shibarium, signaling progress in the project’s growth and development.
Key Points
- Shiba Inu’s lead developer announced completion of key components, including Wrapped Bone (WBONE) for smart contract compatibility.
- The launch of Shibaswap, a decentralized exchange, will be delayed to allow other projects on Shibarium to thrive.
- Shibarium, Shiba Inu’s Layer-2 scaling solution, has over a million wallets and introduced a transaction scanner.
- Future plans include contract renouncement for security and increasing validator nodes for network robustness.
In a recent update on Telegram, Shiba Inu’s lead developer, Shytoshi Kusama, shared some exciting news regarding the project.
Kusama announced the completion of key components, including Wrapped Bone (WBONE), a token that enables BONE compatibility with smart contracts and decentralized applications on the Shibarium network.
However, amidst this progress, Kusama also revealed that the launch of Shibaswap, the highly anticipated decentralized exchange, will be delayed.
The purpose of this delay is to allow other projects built on Shibarium to thrive before introducing Shibaswap. It shows the team’s commitment to ensuring network stability and security, while also strategically managing the project’s growth.
1. WBone is complete. KAAL will announce that and the other tokens shortly.
2. Verified contracts done but as you can see we waited for new explorer.
3. We didn't release Shibaswap because this isn't JUST ABOUT SHY AND TEAM. It's about the HUNDREDS of projects who have spent… pic.twitter.com/KEVRG2Zpm2— KURO🐾SHIBARMY JPN🇯🇵 (@kuro_9696_9696) September 3, 2023
Shibarium Updates
Shibarium, Shiba Inu’s Layer-2 scaling solution, has witnessed remarkable growth. According to recent reports, over a million wallets have been recorded on the platform.
This surge in adoption is encouraging and indicative of the growing interest in Shiba Inu and its blockchain solutions.
As part of the ongoing effort to enhance user experience, the project introduced a new feature on Shibarium. Users can now access a transaction scanner at Shibariumscan.io.
This tool allows for specific transaction lookups, making it easier for users to track their transactions and monitor activity on the platform.
Looking ahead, Kusama outlined the project’s next steps. One of the crucial plans is to “renounce the contract,” a process that transfers control of the smart contract to a decentralized organization or a multi-signature wallet.
This step aims to improve security and further decentralize the network.
Additionally, the project intends to increase the number of validator nodes. Validator nodes are computers that validate transactions on the network.
By expanding the number of these nodes, the project aims to bolster the security and decentralization of the network, making it more robust and resistant to attacks.
The progress made by the Shibarium project is commendable, especially considering its rocky start and the FUD (fear, uncertainty, and doubt) that plagued it initially.
Despite these challenges, the team has persevered and achieved significant milestones, attracting a growing number of users and building a strong foundation for future developments.
Concluding Thoughts
While Shibaswap’s delay may disappoint some eager users, it is a decision made in the best interest of the project and its overall success.
By prioritizing network stability and enabling other projects to flourish, the team is ensuring a solid foundation for Shibaswap’s eventual launch.
As the Shiba Inu community eagerly awaits the launch of Shibaswap and other exciting developments, the progress made on Shibarium and the focus on security and decentralization are positive indicators of the project’s potential.
