• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Shiba Inu May Become a Failover Gas in the Ethereum Network

user avatar

by Giorgi Kostiuk

a year ago

A blockchain analyst considers Shiba Inu could play a significant role in the Ethereum ecosystem as a layer-2 solution.

The Importance of Shiba Inu in the Ethereum Ecosystem

The analyst notes that Shiba Inu, the network behind the SHIB memecoin, possesses the necessary traits to become a failover gas token on the Ethereum platform.

Characteristics of Shiba Inu

According to the analyst, Shiba Inu acts as a decentralized blockchain token with no management team and is the second-highest market-capped token on Ethereum after Ether.

Comparison with Other Protocols

The analyst compared Shiba Inu with other protocols in the Ethereum network. Solana employs two layer-2 solutions for EVM compatibility, while XRPL uses Ethereum smart contracts for the same purpose.

The analyst believes Shiba Inu has the potential to become a significant part of the Ethereum network as an alternative gas option, enhancing the platform's decentralization and resilience.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Pico Achieves 32X Performance Boost for Historical Blockchain Data Applications

chest

Pico, the newly launched zero-knowledge virtual machine by Brevis, has achieved a remarkable 32X performance boost for applications utilizing historical blockchain data.

user avatarJesper Sørensen

Hyperliquid Faces Token Unlock Pressure Ahead of Core Contributor Release

chest

Hyperliquid is preparing for a significant token unlock on November 29, 2023, when approximately 992 million HYPE tokens will be released to core contributors, potentially exerting bearish pressure on prices.

user avatarRajesh Kumar

Ethereum Price Encounters Resistance Following Recent Drop.

chest

Ethereum's price has struggled to maintain levels above $3,000, testing a low of $2,870 before attempting a recovery. The price is currently facing resistance near $3,100, and if it fails to break this level, it may continue to decline towards lower support levels.

user avatarLucas Weissmann

Vitalik Buterin Warns of Institutional Threats to Ethereum Values

chest

Ethereum founder Vitalik Buterin raises concerns about institutional investors compromising Ethereum's core values.

user avatarFilippo Romano

Massive Token Transfer Raises Concerns for Solana

chest

A significant transfer of 201 million SOL tokens has triggered market anxiety and speculation about a potential selloff.

user avatarEmily Carter

US Nonfarm Payroll Data Release Delayed Amid Government Shutdown

chest

The release of the US nonfarm payroll data for September has been delayed until November 20, 2025, due to a government shutdown, raising market anticipation.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.