ShibChain: A New Rival for Shibarium
Shibarium now faces competition from ShibChain, a Layer-2 scaling solution designed for the Shiba Inu ecosystem using the Polygon CDK.
ShibChain Built on Polygon CDK
ShibChain is an Ethereum L2 protocol built on Polygon’s Chain Development Kit (CDK) framework. While it was expected to be launched on Ethereum, Polygon emerges as the chosen blockchain. The Polygon CDK, known for its advanced developer technology, has recently gained attention. Flipkart, the Indian e-commerce giant, hinted at integrating the Polygon CDK-deployed Layer 2 chain for its Web3.0 loyalty program, FireDrops. Polygon’s focus on CDK aligns with its growth vision, leading to ShibChain’s attraction to the platform.
- Attention on Polygon CDK framework
- Integration plans by Flipkart for Web3.0 loyalty program
- Polygon’s decision to cease contributions to Edge framework in favor of CDK
SHIB to Power ShibChain
According to ShibChain’s posts on the X app, the newly launched blockchain will utilize Shiba Inu’s native token SHIB for its gas fees, a shift from Shibarium which uses Bone ShibaSwap (BONE). ShibChain sees SHIB as the main currency for its applications, allowing ShibArmy members to spend SHIB on games, NFTs, and DeFi.
For every transaction on ShibChain, a fee of 300 SHIB (approximately $0.03) will be charged, with a promised transaction speed of 2000 Transactions Per Second (TPS).
- SHIB as the primary currency on ShibChain
- Transaction fee of 300 SHIB per transaction
- Projected TPS of 2000 for smooth and efficient transactions
ShibChain aims to create genuine demand for $SHIB with real-world applications, emphasizing the importance of long-term value through community-powered adoption.
The utilization of SHIB on ShibChain sets it apart from Shibarium, and given the positive responses to developments in the Shiba Inu ecosystem, ShibChain may follow suit.