launched the Shibarium mainnet, an layer-2 scaling resolution, on Aug. 16 after months of testing that noticed tens of millions of customers take part and 21 million wallets created.
Shibarium is constructed on a brand new consensus mechanism known as proof-of-participation (PoP), which works by choosing validators in proportion to their amount of holdings within the related cryptocurrency. That is executed to keep away from the computational price of proof-of-work schemes. The brand new L2 blockchain resolution is designed to work together with the first Ethereum layer-1 blockchain, offering a extra scalable and cost-effective transaction platform.
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