Shiba Inu: Shibarium To Become More Decentralized Than Ethereum, Here’s How
Shibarium, the layer-2 scaling solution of Shiba Inu could become more decentralized than Ethereum – the layer-1 technology on which the Meme Coin is built – in the future. This is the goal of development firm Unification, which is considered the main developer of Shibarium.
Ringoshi Toitsu, a well-known validator of the Unification (FUND) network shared this news on Twitter. In a tweet dated April 5, Toitsu posted a screenshot of an interaction with a community user and the Unification Foundation.
In the conversation, Unification is addressing the critical issue of the centralization of Ethereum Virtual Machine (EVM) node operations. SHIB’s layer-2 technology will therefore use Unification’s upcoming tool UNODE for decentralized applications (dapps) in the Shibarium ecosystem.
FUND, Unification’s native token will also play a major role. Toitsu explained that FUND will be the only cryptocurrency that UNODE will use. He also declares that UNODE will play an important role for the entire SHIB ecosystem. On Twitter, he wrote:
Unification is now tackling the next major point of centralization for Shibarium operations – EVM node operations. UNODE’s launch in 2023 offers a more secure and decentralized infrastructure for developers & Dapps – using FUND as the gas!”.
Why This Is Of Major Importance For Shiba Inu
Nodes are a critical part of the Ethereum infrastructure. For quite some time, there have been discussions about how centralized Ethereum is in terms of nodes. A Messari study found in fall 2022 that over 70% of leading Ethereum applications run on just four centralized node providers.
Unification picks up on this in a blog post, writing that centralized industry incumbents Alchemy, Infura, Moralis, and Quicknode provide the bulk of ETH nodes, creating a vulnerability in the technology stack of decentralized applications.
Also many are permissioned and identifiable because they require card payments through dapps. Thus, tracking could potentially be turned on at any time, the article notes and further explains:
Unification’s UNODE addresses this Achilles’ Heel, by democratizing, decentralizing, and incentivizing EVM node operations. In accordance with our ethos, this will be pure Web3.
UNODE is scheduled to launch before the end of 2023. This will not only be beneficial for the SHIB ecosystem but will also bring exclusive utilities to the FUND token.
In addition, Shiba Inu will receive other critical infrastructure from Unification. As Toitsu explained in an interview, Unification’s technology includes the Oracle of Oracles (OoO), a permission-free master oracle that combines data from centralized and decentralized exchanges to provide real-time asset prices.
The OoO service will be widely integrated into the SHIB ecosystem. This includes ShibaSwap, Shiboshi NFTs, and Shibarium.
Regarding the current development status of the layer-2, Toitsu revealed:
Unification is doing an excellent job with their technology for Shibarium, and no one else can match it. We’re still in an early beta stage with a focus on delegating/staking. People know that BONE is gas, there will be REAL governance, and TRUE SHIB users will be able to earn rewards from using the blockchain.
At press time, the SHIB price stood at $0.00001092, down 3.5% within the last 24 hours.
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Shiba Inu: Shibarium To Become More Decentralized Than Ethereum, Here’s How
Shibarium, the layer-2 scaling solution of Shiba Inu could become more decentralized than Ethereum – the layer-1 technology on which the Meme Coin is built – in the future. This is the goal of development firm Unification, which is considered the main developer of Shibarium.
Ringoshi Toitsu, a well-known validator of the Unification (FUND) network shared this news on Twitter. In a tweet dated April 5, Toitsu posted a screenshot of an interaction with a community user and the Unification Foundation.
In the conversation, Unification is addressing the critical issue of the centralization of Ethereum Virtual Machine (EVM) node operations. SHIB’s layer-2 technology will therefore use Unification’s upcoming tool UNODE for decentralized applications (dapps) in the Shibarium ecosystem.
FUND, Unification’s native token will also play a major role. Toitsu explained that FUND will be the only cryptocurrency that UNODE will use. He also declares that UNODE will play an important role for the entire SHIB ecosystem. On Twitter, he wrote:
Unification is now tackling the next major point of centralization for Shibarium operations – EVM node operations. UNODE’s launch in 2023 offers a more secure and decentralized infrastructure for developers & Dapps – using FUND as the gas!”.
Why This Is Of Major Importance For Shiba Inu
Nodes are a critical part of the Ethereum infrastructure. For quite some time, there have been discussions about how centralized Ethereum is in terms of nodes. A Messari study found in fall 2022 that over 70% of leading Ethereum applications run on just four centralized node providers.
Unification picks up on this in a blog post, writing that centralized industry incumbents Alchemy, Infura, Moralis, and Quicknode provide the bulk of ETH nodes, creating a vulnerability in the technology stack of decentralized applications.
Also many are permissioned and identifiable because they require card payments through dapps. Thus, tracking could potentially be turned on at any time, the article notes and further explains:
Unification’s UNODE addresses this Achilles’ Heel, by democratizing, decentralizing, and incentivizing EVM node operations. In accordance with our ethos, this will be pure Web3.
UNODE is scheduled to launch before the end of 2023. This will not only be beneficial for the SHIB ecosystem but will also bring exclusive utilities to the FUND token.
In addition, Shiba Inu will receive other critical infrastructure from Unification. As Toitsu explained in an interview, Unification’s technology includes the Oracle of Oracles (OoO), a permission-free master oracle that combines data from centralized and decentralized exchanges to provide real-time asset prices.
The OoO service will be widely integrated into the SHIB ecosystem. This includes ShibaSwap, Shiboshi NFTs, and Shibarium.
Regarding the current development status of the layer-2, Toitsu revealed:
Unification is doing an excellent job with their technology for Shibarium, and no one else can match it. We’re still in an early beta stage with a focus on delegating/staking. People know that BONE is gas, there will be REAL governance, and TRUE SHIB users will be able to earn rewards from using the blockchain.
At press time, the SHIB price stood at $0.00001092, down 3.5% within the last 24 hours.
Read More