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Shibarium Bridge
Shibarium is a L2 Blockchain Solution. Shibarium is not a blockchain per se but a blockchain layer that runs on top of Ethereum. The idea is for Shibarium to take over a large portion of the integrated cryptocurrency's transactions so they don’t have to rely solely on Ethereum.
This is important because the main criticism of Ethereum, the blockchain on which $SHIB and most of the other ancestors are built, has been its low throughput capabilities and high gas fees, which in turn posed a huge obstacle to the growth of the more advanced ecosystems (even with its upgrade to a proof-of-stake, gas fees and transaction speeds will not be improved significantly, as stated on its official website.)
Shibarium therefore aims to improve on the scalability aspect, while still leveraging Ethereum’s security layer as a Layer 2 solution.
So how do we remove the barrier to entry for the small transactions that occur in day-to-day living? In L2 blockchains like Shibarium, transactions occur “off-chain”, meaning transactions occur outside of the Layer 1 (Ethereum) blockchain, and are communicated back. Allowing the L2 blockchain to do the majority of the processing work alleviates bandwidth which results in lower costs (gas fees) and processing time for the end users.
Beyond the cost and speed benefits, The development framework for Shibarium provides robust functionality to allow the community to build their vision into the blockchain. Decentralized Applications (dApps), programs that exist and run on a blockchain, are a critical component to the expansion of Web 3. Gaming, Social Media, Education, and Supply Chains are just a few of the nearly endless uses for dApps.
Last modified 8mo ago