In a blog post, the team behind Shibarium, an Ethereum-focused layer 2 network, announced the launching of the testnet bridge. The launch aimed to support users to transfer their tokens between Shiba Inu and Ethereum blockchain network. According to Shibarium developers, the newly launched testnet bridge will only support “dummy assets.”
Shiba Inu Developers Begins Shibarium Testing
In a Twitter statement issued on July 28, Lucie, a marketing specialist at Shiba Inu, argued that the public testing phase would allow the crypto natives to explore the testnet bridge. Even though bad players have lately been eying to launch malicious attacks on vulnerable bridges, the Shibarium developers have adopted revolutionary technologies to strengthen the testnet bridge.
Last year bad actor compromised a vulnerable bridge on the Ronin network heisting $622 million. The bridge attack was the largest on record linked to North Korean hackers.
In a subsequent Twitter comment, the Shiba Inu community demanded to know the official launch date for the testnet. Commenting on this, a blockchain infrastructure provider @NOWNodes stated that the launch date is near. Adding on that @NOWNodes reiterated that soon after finalizing the remaining task, the Shiba Inu team will update the community the first official partner to have Shibarium RPC nodes integrated.
Testnet Launching Compels Shiba Inu to Rally
In an interview with Shibarium chief developer Shytoshi Kusama, the executive confirmed that from August, the bridge would enable the user to transfer Ether (ETH) to the Shibarium network. The developer stated that the transaction from the two networks would take 30 minutes at most. However, Kusama explained that the bridge would not support real asset transactions.
In his report, Kusama highlighted that Layer 2 network constitutes off-chain systems centered on separate blockchains. Typically, the Layer 2 protocol minimizes the scaling challenges, reduces gas fees and data congestion on the network.
Elsewhere a report from DoggyDAO, a Shiba Inu-owned decentralized autonomous organization, anticipates starting operations on the Shibarium. According to DoggyDAO, the Shibarium network will support the firm in funding blockchain-oriented projects.
A recent study demonstrated that the testnet bridge has gained momentum recently. From July, over 27 million transactions were conducted with 16 million wallets on the testnet bridge. This implies that the testnet network has gained popularity and is in high demand.
In an earlier report, the Shiba Inu team affirmed that the Shibarium would focus more on projects on the metaverse and gaming. The Shibarium team anticipates that the non-fungible token (NFT) sector will grow exponentially in the coming years.
Beyond this, news concerning the launching of the testnet propelled Shiba Inu native token SHIB to rally by 3.06% to exchange hands at $0.000008515. Launching the testnet supported Shiba Inu-based tokens such as BONE ShibaSwap to make significant gains. At present, 03:41 UTC BONE ShibaSwap increased by 1.34% to trade at $1.44, according to CoinMarketCap.