Cryptocurrency Shiba Inu plans to launch its own blockchain
Shiba Inu, popularly known as SHIB and considered as a ‘Dogecoin killer’, is soon expected to offer new functionalities to its users such as reduced gas fees along with its own blockchain.
Gas fee has emerged as a significant problem for blockchain. However, there was no exact timeline for the launch of the blockchain. The popular cryptocurrency is expected to drop its ‘memecoin’ tag with the launch of its own blockchain named Shibarium.
Creators of Shiba Inu want to launch their own stable coin called SHI on the blockchain that runs its gas fees on the site, which could actually improve the network’s performance as well as establish SHIB as an important digital coin.
Currently, Shiba Inu functions on the Ethereum blockchain and with the growing demand of Shiba Inu, its developers fear that people would stop trading in the coin. Right now, every transaction on Ethereum costs over $9.1 and Shibarium aims to bring this down to as low as possible.
Shiba Inu’s founder Ryoshi wrote on medium, “I have already spoken to a very competent blockchain team who has volunteered to build and fully decentralized this for the Shiba ecosystem.”
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