The developers of Shiba Inu highlighted that Shibarium is being built to provide a tool to allow the community to build and grow the project. Shibarium is a layer-2 network that will run on top of the Ethereum mainnet.
It will increase Shiba Inu’s price but this isn’t the goal of the project’s developers. They said this has never been the project’s focus. The developers, through Shibarium, want to revolutionize the Shiba ecosystem. They will remove barriers to entry for small transactions, upgrade the speed, allow the development of decentralized applications (dApps), and integrate NFTs.
The developers said a key update is a burning mechanism for SHIB. They explained that all transactions on the network will have an implicit burn amount for the $SHIB token and the mechanism will occur whenever a transaction is made within the network. The project has created much excitement in the Shiba Inu community. The members are hopeful and thrilled about the many things to look forward to.
Shytoshi Kusama, SHIB developer, in November 2022, stated that the World Economic Forum invited the project to collaborate on creating a global policy on the metaverse. He said the project will work with other tech giants such as Facebook and Decentraland to help the WEF develop the policy.