Shibarium Bridge Goes Live In Beta But There’s A Catch
July 27 2023 - 9:00AM
NEWSBTC
Shiba Inu’s development team has announced a significant
advancement in the SHIB ecosystem. With the introduction of the
Shibarium Bridge, users will have a new way to interact with the
ecosystem. However, as this technology is still in its beta phase,
the team behind Shiba Inu (SHIB) is urging the community to
exercise caution. A team representative known as Lucie recently
announced the Shibarium Bridge’s beta release. This addition to the
Shibarium network was first introduced to the public in April and
has since progressed from being partially functional to undergoing
public testing. Shibarium Bridge: New Level Of Interoperability?
Constructed on the foundation of Plasma Bridge technology, the
Shibarium Bridge presents a noteworthy degree of
cross-functionality between Shibarium and Ethereum. By employing a
collection of proof-of-stake validators, this bridge paves the way
for Shiba Inu users to execute transactions with a reduced need for
intermediaries and a diminished risk profile. Related Reading:
Shibarium Reaches New Milestones As Anticipation Builds For Mainnet
Launch The bridge is also compatible with the ERC-20 token
standard, the prevalent token format within the Ethereum network.
Notably, the Shibarium Bridge is expected to serve as a solution
for scaling, an indispensable facet for any blockchain network
aiming to manage substantial transaction volumes without
compromising speed or efficiency. 🔥 Shibarium Beta Bridge has gone
live for public testing! 🎉 Be among the first to try out this
revolutionary cross-chain solution. Remember, always exercise
caution and verify authenticity before connecting your wallet to
any website. PLEASE DO NOT USE YOUR REAL ASSETS!…
pic.twitter.com/7yfhX8gQc6 — 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) July 26, 2023 While
the beta release of Shibarium Bridge marks a significant milestone,
it comes with a word of caution from the SHIB team. Lucie urged
users not to use real tokens while the technology remains in its
beta phase, including the currently running Shibarium beta
Puppynet. In addition to this, Lucie underscored the crucial
necessity of validating the legitimacy of any site prior to
tethering crypto wallets, as a protective measure against possible
fraudulent activities. Maintaining security continues to be
paramount for individuals within the realm of digital assets. These
advisories from the team function as a reminder to users to uphold
their vigilance when exploring new advancements in technology
Shibarium Launch Inches Closer In a recent blog post, Shiba Inu’s
chief developer, Shytoshi Kusama, hinted at an exciting revelation.
He announced that the Blockchain Futurist Conference and ETHToronto
will serve as stages to unveil the much-anticipated layer-2
solution, Shibarium. These events will not only showcase Shibarium
but will also present the completed Worldpaper and offer insights
into Treat. Additionally, they will highlight projects that bear
the SHIB brand. Related Reading: Breaking: Shiba Inu Lead Dev
Reveals Shibarium Release Date, SHIB Up 3% The Lead Dev noted: At
this venue [Blockchain Futurist Conference], the finalized
Worldpaper will be showcased, all Shib-branded projects will be
unveiled, and Treat will be detailed publicly for the first time.
Additionally, discussions and potential releases of the
long-awaited L2 Shibarium are highly likely. Meanwhile, Shiba Inu
(SHIB) has been on an upward trend over the past 24 hours. The
dog-themed meme coin has risen by nearly 1% and is currently
trading for $0.00000788 at the time of writing. The asset’s
trading volume has however recorded a slight decline in the past
week from $100 million seen last Thursday to $81.3 million in the
past 24 hours. Featured image from Shutterstock, Chart from
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