Shibarium, the layer-2 scaling solution for Shiba Inu, aims to become more decentralized than Ethereum, the layer-1 technology on which the meme coin is built.
Development firm Unification is working to achieve this goal by addressing the centralization of Ethereum Virtual Machine (EVM) node operations. Ringoshi Toitsu, a validator of the Unification network, shared the news on Twitter, stating that SHIB’s layer-2 technology will use Unification’s upcoming tool UNODE for decentralized applications in the Shibarium ecosystem. UNODE will use FUND, Unification’s native token, as the only cryptocurrency, and will play an important role for the entire SHIB ecosystem.
Nodes are a crucial part of the Ethereum infrastructure, and discussions about its centralization have been ongoing for some time. A Messari study found that over 70% of leading Ethereum applications run on just four centralized node providers. Unification aims to democratize, decentralize, and incentivize EVM node operations through UNODE, which is scheduled to launch before the end of 2023. The technology will not only benefit the SHIB ecosystem, but also bring exclusive utilities to the FUND token.
In addition to UNODE, Shiba Inu will receive critical infrastructure from Unification, including the Oracle of Oracles (OoO) service, which combines data from centralized and decentralized exchanges to provide real-time asset prices. The OoO service will be integrated into the SHIB ecosystem, including ShibaSwap, Shiboshi NFTs, and Shibarium. Unification is currently in the early beta stage with a focus on delegating/staking. The development of Shibarium’s technology is being closely watched as it aims to become more decentralized than Ethereum.