- Shiba Inu’s burn rate increased by 786%, reducing supply and potentially boosting long-term price stability.
- Shibarium secured $6.66 million, reflecting growing adoption and rising confidence in Shiba Inu’s Layer 2 expansion.
The recent listing of Shibarium, Shiba Inu’s [SHIB] Layer 2 solution, has sparked discussions in the crypto community.
Recently listed by L2 Beat, the mechanism of Shibarium has been explained by one of its key developers, drawing attention to its unique sidechain structure.
Alongside its rising value secured and increasing on-chain activity, Shiba Inu’s burn rate has increased in the last 24 hours.
Shibarium’s unique structure: A more secure L2?
According to one of the Shiba Inu L2 developers, unlike conventional Layer 2 (L2) rollups, which often rely on centralized operators or have prolonged withdrawal periods, Shibarium functions as a sidechain built on Ethereum [ETH].
This allows it to operate with its own validators and checkpoints, while leveraging Ethereum’s security through periodic anchoring.
The developer explained its design, stating,
“Sidechains operate their own validators and checkpoints/milestones while leveraging Ethereum’s security via periodic anchoring. In my view, this structure is more secure than optimistic rollups, which impose a seven-day challenge period for withdrawals.”
Additionally, the ShibOS system integrates multiple security mechanisms, including a hybrid optimistic/ZK-based settlement model, aiming to address the inefficiencies of optimistic rollups.
Value Secured and network activity
Data from L2 Beat shows that the total value
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Author: Adewale Olarinde
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