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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Shiba Inu Jumps 4% As Lead Dev Answers ‘When Shibarium’

Jake Simmons
Jake Simmons
2 years ago
2 mins read
Shiba Inu price

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Shiba Inu’s lead developer, Shytoshi Kusama, published a new blog post today in which he revealed that the beta version of Shibarium will be released after the publication of another blog post about the development of the layer-2 network. Thus, Kusama still doesn’t give a specific date, but he does provide further insight into the beta’s schedule and pending obstacles.

The new blog post by the chief developer of Shiba Inu is part of a series of Medium posts in which he introduces Shibarium. In the second part published today, titled “Shibarium Blog: 2022 The Year of Learning,” Kusama writes about the obstacles over the past year.

Let's start the week off right. NEW SHIBARIUM BLOG. 2022: The Year of Learning recaps the year and looks forward towards #Shibarium. Read it so you're all caught up. https://t.co/9pueKAAVHt

— Shytoshi Kusama™ (@ShytoshiKusama) February 20, 2023

An Obstacle-Filled Path To Shibarium

Kusama emphasizes how hard he worked to make the project a reality, despite facing opposition from various parties. The lead dev struggled with family setbacks and even death threats. Nevertheless, he reaffirmed his determination to continue and ensured that the project will not be hindered by such opposition.

And one of the Shiba Inu developer’s biggest goals was how to make Shibarium more than just another bonus points app provider involved in real life (IRL) projects. Kusama had a lot of help with this from external company Welly to answer various questions around this challenge for Shibarium.

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“What are the most important aspects when working with Shibarium as it pertains to security, supply, and blockchain? Is it the cost? The speed? The name?”, Kusama stated. He continued to reveal that with the information he gathered through research, he was able to put a new focus on IRL for Shibarium.

Shiba Inu’s chief developer also praised the Metaverse team as “the best in the world” and then addressed the question that plagues all community members, “But Wen Shy?”. He revealed that he plans to publish another post that will address the behind-the-scenes work he has undertaken to ensure that Shibarium meets the standards required for public use.

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This upcoming post will cover several topics, including community protection measures, technical details, and other relevant information. After that, the Shibarium team will proceed with the release of the beta version. Remarkably, Kusama assured that this will be soon:

Next, I’ll go into detail about what I’ve done behind the scenes to prepare the blockchain for public consumption and to keep us all safe, technical aspects, why intake and much more. Then, we will release the intake form and Shibarium Beta.

Shiba Inu Price Today

Initially, the Shiba Inu price reacted with a 4% jump to the publication of the blog post. However, Kusama’s statements still seem too vague to support a sizable rally. Accordingly, the strength of SHIB bulls quickly leveled off.

At press time, SHIB was trading at $0.00001358. To the upside, resistance at $0.00001397 remains crucial to confirm a sustained uptrend. On the downside, investors should keep an eye on the support at $0.00001222.

Shiba Inu Price
SHIB price below key resistance | Source: SHIBUSD on TradingView.com
Featured image from VOI, Chart from TradingView.com
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Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

Read more

His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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