BONE Fee to Send Shiba Inu (SHIB) Gets Thousands of Percent Down Thanks to Shibarium

Shibarium can reduce transaction fees by 1,000%. BoneShiba. $BONE $SHIB

The recently launched layer-2 blockchain Shibarium allows users to make transfers of Shiba Inu, using BONE tokens as gas for charging transaction fees. Initially, Shytoshi Kusama and his SHIB developer team stated that transaction fees on Shibarium, unlike those on Ethereum, will be much lower and faster, without any congestion.Besides, according to several blog posts published by Kusama on Medium, every transaction will contribute to regular SHIB burns.

The mechanism is simple – part of each transaction fee in BONE will get converted into Shiba Inu meme tokens and then sent to dead-end wallets. The SHIB army now expects trillions of Shiba Inu to get burned, which would in theory push the price up significantly. Thanks to burning, i.e. to sending tokens to unspendable wallets, an asset becomes more scarce as its circulating supply shrinks.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Utoday_en /  🏆 295. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shiba Inu (SHIB): Blockchain Dev Excited as Shibarium Beta Launch Kicks Off Road Map ProgressShiba Inu (SHIB): Shibarium supporter takes first road map step as beta launches ShibArmy NOWNodes SHIBCommunity $SHIB SHIB NOWNodes
Read more »

Trillions of Shiba Inu (SHIB) Left Whales' Bags on Shibarium Release DayShiba Inu whales get rid of trillions $SHIB on Shibarium release day shibainu shib shibarmy shibarium shibaeternity shibadoge shibburn bone dogekiller leash $leash $bone
Read more »

Major BONE Whales Increase Holdings After Shibarium Beta ReleaseMajor Shiba Inu whales keep buying $BONE even after Shibarium's PuppyNet release shibainu shib shibarmy shibarium shibaeternity shibadoge shibburn bone dogekiller leash $leash $shib
Read more »

Shibarium Public Beta PUPPYNET Goes Live And Here’s Why SBF Is Not RyoshiThe beta test version of Shibarium has finally been released, Shytoshi Kusama dispels FUD about Ryoshi being Sam Bankman-Fried
Read more »

Shiba Inu (SHIB) Burn Rate up 2,400%, Here's How Price Is ReactingShiba Inu burn rate might have been bolstered by newly launched Shibarium beta
Read more »

Shytoshi Kusama Reveals New Shiba Inu (SHIB) Metaverse ScreenshotChief of Shiba Inu devs shares another sneak peek of SHIB Metaverse as SXSW event started
Read more »