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ShibChain Becomes a New Rival to Shibarium
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ShibChain Becomes a New Rival to Shibarium

Dec 22, 2023

Recently in the world of cryptocurrencies, Shibarium appeared, a second-level solution created to accelerate transactions and reduce their cost in the Shiba Inu ecosystem. This system, launched in August 2023, includes a token burning mechanism that is activated depending on the activity in the Shibarium network. However, just four months after the launch of Shibarium, a new competitor - ShibChain - was introduced on the Polygon Chain Development Kit platform.

ShibChain, operating on the Ethereum L2 protocol, uses the Shiba Inu (SHIB) token to pay transaction fees. In this network, the transaction fee is 300 SHIB (approximately $0.003), and the transaction processing speed reaches 2000 TPS. Unlike Shibarium, where ShibaSwap (BONE) is used as gas, ShibChain offers higher speed and lower transaction costs.

ShibChain also opens up new opportunities for Shiba Inu fans, allowing them to use their tokens for various services, including gaming, NFT, and DeFi. Despite expectations that Ethereum would become the main protocol, the choice fell on Polygon. This decision will allow SHIB to become the main currency for all protocol applications, which, in turn, will strengthen the Shiba Inu ecosystem.

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