The New Bridge Connecting Shibarium and Major Blockchains
The team behind Sharbi, the Shiba Inu-powered token, has introduced FETCH, a multichain bridging solution that connects Ethereum and Arbitrum to Shibarium. This bridge allows for the transfer of liquidity and cryptocurrencies between major blockchains and Shibarium, a Layer 2 scaling chain central to the Shiba Inu ecosystem.
Defi Bridges Addressing the Issue of Standalone Blockchains
Blockchains are typically standalone, making it difficult to move currencies issued on these networks to other chains. To tackle this issue, developers have created defi bridges that enable participants to transfer tokens between blockchains.
Faster Bridging Time with FETCH
FETCH, built using solidity, is the first multichain bridge in the Shibarium ecosystem. It significantly reduces off-chain bridging time from almost a week to under 30 seconds. This transformative solution empowers users to bridge between chains in seconds, enabling them to capitalize on opportunities quickly.
“FETCH will be truly transformative for the Shibarium ecosystem, empowering users to bridge between chains in seconds, not days.” – Andrew Rosemond, Sharbi core team member
The Role of FETCH in Expanding Shibarium’s Reach
FETCH was developed over several months before its launch. It provides Shibarium users with exposure to other blockchains and is supported by a decentralized autonomous organization (DAO). The DAO will vote on which tokens will be supported by FETCH, including SHARBI and BONE.
Understanding Shibarium and Shiba Inu
Shibarium is an Ethereum layer-2 scaling chain launched by Shiba Inu builders as part of their expansion strategy. Despite initial setbacks, it has gained traction, reaching 100,000 wallets shortly after re-launch. Shibariumscan reports over 349 million transactions processed across 1.3 million wallet addresses and 3 million blocks. Additionally, there are over 8,900 tokens and 15,000 smart contracts running on Shibarium. Shiba Inu (SHIB) is the second-largest memecoin with a market cap of $5 billion.
Conclusion: Bridging the Gap Between Blockchains
The introduction of FETCH as a multichain bridging solution marks a significant step in addressing the limitations of standalone blockchains. By connecting Shibarium to major blockchains like Ethereum and Arbitrum, users can now transfer liquidity and cryptocurrencies seamlessly. FETCH not only reduces bridging time but also expands the reach of the Shiba Inu ecosystem by providing exposure to other chains. With the support of the DAO, this bridge will enable the transfer of tokens such as SHARBI and BONE. Shibarium’s growth and success demonstrate its potential as an Ethereum layer-2 scaling chain.
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