On Sunday (15 January 2023), the Shiba Inu ($SHIB) team explained the fundamental concepts of Shibarium — a layer two blockchain designed to address the shortcomings of the $SHIB token’s host chain Ethereum, namely low speed and high transaction cost — that is expected to have its beta launch soon.

Here is what Binance Academy says about Shiba Inu ($SHIB):

“Shiba Inu (SHIB) is a dog-themed meme cryptocurrency named after a Japanese dog breed. It was created in 2020 by an anonymous developer named Ryoshi, who designed SHIB to be an alternative to Dogecoin (DOGE) on the Ethereum blockchain.

“SHIB is an ERC-20 token with a decentralized exchange called ShibaSwap. The SHIB roadmap and ecosystem also features an NFT art incubator called Shiba Artist Incubator, 10,000 ‘Shiboshi’ NFTs, and an NFT game Shiboshi Game.

“Shiba Inu had an initial circulating supply of 1 quadrillion tokens. Ryoshi locked 50% of the token in Uniswap to create liquidity, and sent the other 50% to Ethereum co-founder Vitalik Buterin’s wallet. However, Vitalik decided to burn 90% of the coins and donate the remaining 10% to charity.“

In a blog post published on 15 January 2023, the Shibarium team explained that Shibarium’s mission is twofold: to offer a resource for the community to construct and expand the project on their own terms, and to invite new crypto users and educate them on the development process of a ground-up…