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- Shiba Inu is expected to become more decentralized than Ethereum.
- Shiba Inu would also receive some critical infrastructure from Unification as UNODE plays a pivotal role in the ecosystem.
Shibarium is the project expected to transition Shiba Inu from a meme coin to a technologically focused ecosystem. It is set to operate as a blockchain layer that runs on top of Ethereum. Shibarium would take over a large portion of SHIB transactions to prevent the asset from solely relying on Ethereum. Recently, the beta testnet was launched. Shiba Inu could compete with Ethereum on the grounds of decentralization as development firm Unification, which is known as the main developer of the Shibarium project, considers this as an important objective.
Ringoshi Toitsu, a popular validator of the Unification (FUND) network tweeted a screenshot on April 5 featuring an interaction between the Unification Foundation and a community user. As captured in the screenshot, Unification was attempting to address the centralization of Ethereum Virtual Machine (EVM) node operations issue. The Unification’s upcoming tool UNODE for decentralized applications (dapps) in the Shibarium ecosystem would, therefore, be used by SHIB’s layer 2.
It is worth noting that the native token of Unification is FUND. This is said to play a critical role as the only crypto that would be used by UNODE. According to Toitsu, UNODE would be very useful in the SHIB ecosystem.
Unification is now tackling the next major point of centralization for Shibarium operations – EVM node operations. UNODE’s launch in 2023 offers a more secure and decentralized infrastructure for developers & Dapps – using FUND as the gas!
Shiba Inu is currently bullish
The decentralization aspect of the project is very important considering how Ethereum has been a topic of discussion after its recent ETH.20 upgrade. According to Messari’s study conducted in the fall of 2022, 70 percent of leading Ethereum applications run on four centralized node providers. In a blog post, Unification mentioned that Alchemy, Infura, Moralis, and Quicknode are the four centralized industry incumbents that provide the most ETH nodes. This is said to create a vulnerability in the technology stack of decentralized applications. Many also require card payments through DApps, hence, are permissioned and identifiable. In this case, tracking could be triggered.
Unification’s UNODE addresses this Achilles’ Heel, by democratizing, decentralizing, and incentivizing EVM node operations. In accordance with our ethos, this will be pure Web3.
Oracle of Oracles (OoO), is also part of the Unification technology. OoO provides real-time asset prices by combining data from decentralized and centralized exchanges. This would be integrated into the SHIB ecosystem and includes ShibaSwap, Shiboshi NFTs, and Shibarium.
This means important infrastructure from Unification would be received by Shiba Inu.
Unification is doing an excellent job with their technology for Shibarium, and no one else can match it. We’re still in an early beta stage with a focus on delegating/staking. People know that BONE is gas, there will be REAL governance, and TRUE SHIB users will be able to earn rewards from using the blockchain.
The current sentiment of Shiba Inu is bullish and is trading at $0.000011 as of press time. In the last seven days, the asset has surged by 2 percent.
