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Shibarium Hackathon Scheduled To Fund Shiba Inu Projects On The L2

 

Shibarium Hackathon Scheduled To Fund Shiba Inu Projects On The L2



After a hackathon for the Shiba Inu project was announced, SHIB holders will soon have the opportunity to participate in Shibarium Layer-2.

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Shytoshi Kusama provided details regarding Shibarium's next stage in a post on the ShibaSwap blog on May 10, as well as a brief update on the L2.





Let's take a peek at the latest on Shibarium, the most anticipated project on the Shiba Inu pipeline.


Shiba Projects Will Be Funded Through A Shibarium Hackathon


With the excitement surrounding Shibarium growing as its release date approaches, it appears that a final push through the Shibarium Hackathon will assist speed the project's delivery.


Shytoshi said a few words about what the hackathon would accomplish for Layer 2. It will "assist in educating the community about Shibarium and rewarding teams with funding to expand on Shibarium," he added.


According to the SHIB project head, this will happen in the "weeks to months" time frame.


Hackathons are usually brief sprints in which developers produce new software in a short amount of time. After the event, the judges select a winning project. The winners are frequently given money to move further with the project. In the case of Shiba Inu, this might result in SHIB holders developing Shibarium projects within this window.


This might aid Layer-2 in having more Shiba Inu goods and services running on its platform when it starts.


Many people in the neighborhood, according to Shytoshi, are already planning projects on Shibarium. "Many members of the community, ERC-20 tokens, and a few fraudsters and fudders (always DYOR) have started concepts for Shibarium," he stated. "This is the greatest method to build SHIB the token and lead to a decentralized future."


Given the focus on decentralization, it's possible that community votes - maybe via the Doggy DAO - will determine which projects are supported. However, this is only supposition.


The Shibarium hackathon appears to be a chance for the community to gain a better understanding of how the L2 operates. Shibarium is still being confused with a blockchain and a new Shiba Inu coin in YouTube videos and tweets. The Shiba team appears to be eager to educate the community about the L2 in order to minimize any more misunderstandings or concerns.


Shytoshi reiterated that the L2 is "nearing completion" but refusing to provide any precise dates. Shibarium is arriving "very soon," according to the project head, so it isn't far away.

Wen Shibarium?


According to his blog post, "Shibarium," the principal developer of the Shiba Inu ecosystem, is the backbone of all Shib projects in development, including SHI and ShibFE (Shibarium Financial Ecosystem).


According to the blog post:


"Our L2 Ethereum Blockchain (using $BONE) is the backbone of all Shib projects in development and will provide a scalable and low-cost solution for a wide range of applications outside the scope of this article."


He affirms that Shibarium is close to being life, adding that it might happen in the next several weeks or months. However, he refused to disclose specific dates at this time.


However, the SHIB ecosystem's chief developer told the SHIB community that the team is on track for a safe and final launch of a decentralized world in which the community is in charge very soon. As a result, the community should get ready before the time runs out.


This guarantee indicates that all of the advancements are nearing completion and that the Waiting Period is ending.


As stated in the blog post:


"I'm not going to provide any firm dates, but I anticipate seeing one or more of these technologies by the end of the summer or the beginning of the autumn semester." We're stepping up methods to get the community engaged as we come closer to completion, including the inaugural Shibarium Hackathon!"


According to Gossip Shib, a former official Growth Breed member of the Shiba Inu ecosystem, the forthcoming improvements on Shibarium are scheduled to become available later this month, between the 25th and 31st of May. The "Documentation concerning Upgrade from Alpha to Beta Phase" will be the subject of the update. She made it plain to the audience, however, that this information is only hearsay and has not been proven.


Shibarium is the official SHIB L2 Ethereum Blockchain (using $BONE). It's being worked on in partnership with XFUND.


Wen SHI?


SHI will be the Shiba Inu ecosystem's official stablecoin, fixed at $0.01 (1 cent), unlike other stablecoins. Shytoshi Kusama indicates that the development of SHI, like Shibarium, is nearing completion. However, he stated that the release date is still uncertain and has yet to be determined since the only information available about the project is that it is almost finished and will shortly begin testing.


ShibFE (Wen Shibarium Financial Ecosystem)?


He also mentioned the debut of Shibarium Financial Ecosystem (ShibFE), which he stated is linked to Shi Development, but he declined to go into detail about this initiative just yet.


The content is provided for educational reasons only and may include the author's own opinion, which does not necessarily reflect TheCryptoBasic's position. All financial assets, including cryptocurrency, have a high level of risk, so do your homework before investing. Never invest money you can't afford to lose; neither the author nor the publisher may be held liable for your financial losses or gains.


Hackathons are usually brief sprints in which developers produce new software in a short amount of time. After the event, the judges select a winning project. The winners are frequently given money to move further with the project. In the case of Shiba Inu, this might result in SHIB holders developing Shibarium projects within this window.


This might aid Layer-2 in having more Shiba Inu goods and services running on its platform when it starts.


Many people in the neighborhood, according to Shytoshi, are already planning projects on Shibarium. "Many members of the community, ERC-20 tokens, and a few fraudsters and fudders (always DYOR) have started concepts for Shibarium," he stated. "This is the greatest method to build SHIB the token and lead to a decentralized future."


Given the focus on decentralization, it's possible that community votes - maybe via the Doggy DAO - will determine which projects are supported. However, this is only supposition.


The Shibarium hackathon appears to be a chance for the community to gain a better understanding of how the L2 operates. Shibarium is still being confused with a blockchain and a new Shiba Inu coin in YouTube videos and tweets. The Shiba team appears to be eager to educate the community about the L2 in order to minimize any more misunderstandings or concerns.


Shytoshi reiterated that the L2 is "nearing completion" but refused to provide any precise dates. Shibarium is arriving "very soon," according to the project head, so it isn't far away.


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