Shiba Inu Coin will manage its transaction fees issues without Ethereum 2.0, according to one SHIB developer touting the release of the Shibarium Layer-2.
Posting in the Shiba Discord, ShibaSwap developer Eric M dismissed the need for Shibarium to launch after Ethereum 2.0. “There’s no relation between ETH 2.0 and our L2,” he said. “Shibarium will come faster than ETH 2.0 for sure. We don’t need ETH 2.0.”
Much of the desire for Shibarium first came after the launch of the Shiboshi NFTs. This release saw SHIB holders hit with large gas fees as they attempted to claim one of the 10,000 NFTs. The aim of the L2 is to ensure low fees for users, while allowing for greater scalability.
Shibarium vs Ethereum 2.0
Ethereum 2.0 is the long-awaited ETH upgrade that will see the network switch over to proof-of-stake. The upgrade will also add sharding, believed to solve much of the high gas fee issues Ethereum users currently experience.
However, it seems the Shibarium L2 could release ahead of Ethereum 2.0, rendering its benefits less meaningful for SHIB.
Indeed, Eric M’s statements give us some further context about a potential launch period for Shibarium. Given Ethereum 2.0 is still slated for a release in June 2022, the suggestion that Shibarium will launch ahead of ETH 2.0 means we could see the L2 available in under six months. At the start of November, Shiba Inu’s volunteer project lead Shytoshi Kusama said: “Soon Shibarium soon, but not that soon.”
Eric M provided further clarification around Shibarium L2. He told Discord users that once the bridge to Shibarium happens, “we [won’t] need ETH 2.0, it won’t be on the ETH network anymore.”
Shiba will still sit on top of the Ethereum blockchain, however, rather than being its own blockchain.