Shiba Association insists the New SHIB-Induced Blockchain Is Built Differently

Shiba Association insists the New SHIB-Induced Blockchain Is Built Differently

The announcement on the creation of a new blockchain network that would be significantly different from the current Shibarium network was recently made by the Shib Association, a popular organization within the Shiba Inu (SHIB) community. This upcoming blockchain, being marketed as a layer-1 solution, is expected to provide the Shiba Inu ecosystem with many innovative features and benefits.

One of its primary features include the new blockchain’s classification as a layer-1 blockchain, which denotes its independence from older networks like Ethereum. While layer-two (L2) solutions like Shibarium run on the Ethereum blockchain, layer-1 will have its own distinct consensus and security model.

The flexibility and control over the management and operation of the network are expected to increase due to this independence. This new blockchain has opted for Proof-of-Participation (PoP) as its consensus algorithm, putting it apart from earlier Proof-of-Work (PoW) and Proof-of-Stake (PoS) networks.

PoP aims to provide a more fair distribution of tokens within the network, in line with the decentralization and fairness ideals frequently connected to the blockchain and cryptocurrency industries. It is believed that the Shib Association’s decision to support an inclusive and community-driven environment is reflected in this choice of consensus process.

Benefit Of The Layer-1 Blockchain Explained, Shiba Community Anxious

For the Shiba Inu community and its supporters, the development of a layer-1 blockchain opens up several prospects. By running independently, this blockchain can provide greater scalability, quicker transaction processing, and higher security features.

Analyzing the relevance of this new development, analysis on The Crypto Basic platform says that “any blockchain network must have these benefits to develop and endure, but especially one with as much activity as the Shiba Inu ecosystem.”

Another analyst, Temitope Olatunji from Captain Altcoin, says that creating a layer-1 blockchain also demonstrates the Shiba Inu community’s commitment to innovation and growth. He added that it represents the desire to build a solid and independent blockchain ecosystem supporting several decentralized apps (dApps), initiatives, and projects.

Olatunji also cautioned that any cryptocurrency project implementing a layer-1 blockchain successfully has accomplished a big milestone, and the Shiba Inu ecosystem will likely be significantly affected.

Shiba Association  Demystify Fork, Specify The Function Of The New Blockchain

According to a post on the Shiba Inu Association’s official X handle, the blockchain won’t have any business being a fork; rather, a fork will always be a fork. They also revealed that they are building a  layer one blockchain from crèche, using its native coins, usually pegged to the Shiba Inu coin. The post also explained that the project will always operate independently using its security and consensus model.

With its independent operation, PoP consensus method, and emphasis on equitable token distribution, this blockchain is positioned to provide the ecosystem with special benefits. The Shiba Inu Association also made it clear that the latest blockchain development is still in its early stages; thus, more details about its development and integration with the entire Shiba Inu sector will soon be made public.

Information also shows that the project is facing some minor challenges while trying to stand out from the already saturated new blockchain platforms. It was also gathered that this project would be a major aspect of a Shiba Inu-powered network by gaining developers’ attention and becoming the most formidable alternative.

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Chad Butler
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Chad Butler

Chad Butler, a renowned name in crypto journalism, excels in translating complex blockchain topics into lucid prose. His astute analyses and timely updates make him a trusted voice in the cryptocurrency landscape. Through his articles, Chad consistently offers readers an informed and insightful perspective on the evolving digital market

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