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PUPPYNET, an early beta version of Shibarium (SHIB) L2 protocol, kicked off on March 11, 2023. In this guide, we explain why this announcement is a watershed for Web3 developers and SHIB enthusiasts, as well as how average crypto holders can benefit from its release.
Shibarium PUPPYNET launched for Shiba Inu (SHIB) community: Key takeaways
According to statements shared on official Shiba Inu (SHIB) accounts and its main blog, on March 11, 2023, PUPPYNET, an early beta version of Shibarium L2 platform, went live.
- PUPPYNET is an "early" open beta version of Shibarium, a second-layer platform on Ethereum (ETH) backed by the Shiba Inu (SHIB) community;
- With PUPPYNET, everyone can build and deploy their own decentralized application (dApp) on Shibarium;
- Also, PUPPYNET can be integrated into "Real-World" businesses as its decentralized backend, crypto payments gateway, decentralized governance module and so on;
- So far, no real cryptocurrencies exist in PUPPYNET beta, so the community should be aware of impersonators;
- Shiba Inu (SHIB) metaverse team unveiled virtual WAGMI TEMPLE in early alpha to celebrate the release of PUPPYNET;
- Validator onboarding is set to kick off as soon as next week.
As such, PUPPYNET is the first publicly available release of what is poised to be a game changer for the largest and most passionate meme coin community built around SHIB token, its ethos and narratives.
What is Shiba Inu (SHIB)?
Shiba Inu (SHIB) is an ERC-20 token (Ethereum-based cryptocurrency) that belongs to the canine meme coin subclass. It was launched in August 2020, when a TikTok pump catalyzed the popularity of Dogecoin (DOGE) for the first time since 2013 and well before the euphoria around Elon Musk's tweets began.
Shiba Inu (SHIB) is the most unusual cryptocurrency of the class: despite its "just for fun" narrative, it evolved into an ecosystem of Web3 products including the likes of a staking module, native crypto exchange, NFT and metaverse projects, and so on.
Shiba Inu (SHIB), Bone ShibaSwap (BONE) and Doge Killer (LEASH) are the three main crypto assets of the Shiba Inu ecosystem.
What is Shibarium?
Shibarium is a second-layer protocol built on the top of the Ethereum (ETH) network. Not unlike all major L2 solutions, it addresses scalability and performance issues of the second largest blockchain. Bone ShibaSwap (BONE) will be Shibarium's gas currency.
Shibarium will leverage a Polygon-like dual-layer design with Heimdall validator nodes and Bor block producer nodes. Heimdall will use Tendermint consensus engine, and Bor will ensure 100% compatibility with Ethereum Virtual Machine (EVM).
Shibarium portal went live as a gateway to the Shibarium ecosystem in early March 2023; all dApps developers, entrepreneurs, content creators and ecosystem enthusiasts are invited to join it.
What is PUPPYNET and how to use it?
PUPPYNET is the first implementation of Shibarium, its open "early beta" version.
SHIBARIUM EARLY BETA TEST IS LIVE!
— Shib (@Shibtoken) March 11, 2023
Today, more than ever, we see the need for a truly decentralized L2 network that powers the projects of a large, global, decentralized community.
Read more:https://t.co/ntKMXDKaTw
Starting from March 11, 2023, it has been open to all SHIB community members interested in working with Shibarium.
PUPPYNET: Basics
As explained by Shytoshi Kusama, a lead developer of the Shiba Inu network, PUPPYNET kicks off as an inaugural iteration of Shibarium, Shiba Inu's (SHIB) L2 network. It is still in beta, so it can be used for research, testing and entertainment only.
The process of beta testing for the Shibarium network will be accompanied by periodic SHIB burn events, he stressed. As such, all businesses, developers and hobbyists are invited to stress test PUPPYNET and Shibarium's tokenomic design.
PUPPYNET for developers
Meanwhile, there is a "premium" option for all network users interested in seamless onboarding and smooth integration of PUPPYNET:
Now, although anyone can build on the Shibarium Network as we have stated, we understand that some prefer a red carpet experience and top-notch support. For those individuals, businesses, and projects, we suggest filling out the Shibarium Technology intake form.
Also, if a SHIB enthusiast is not interested in running their own nodes of Shibarium, the developers prepared an RPC ("remote procedure call") node toolkit. Shibarium testnet PUPPYNET can be integrated into MetaMask with the following specifications:
- RPC: https://puppynet.shibrpc.com
- Explorer: https://puppyscan.shib.io
- Chain ID: 917
As such, all teams of dApps on Ethereum (ETH) and EVM protocols can start considering moving their products to Shibarium.
PUPPYNET for validators
Next week, starting from March 20, 2023, developers of Shibarium will unveil node documentation for validators. As such, node experts will be able to install and customize node software on their computers and start running self-hosted nodes.
Validators of Shiarium will be rewarded with Bone Shibaswap (BONE) and additional token TREAT that is yet to be presented.
PUPPYNET for SHIB community
Despite Shibarium developers reiterating that no real tokens will exist in the PUPPYNET beta network, impersonators have already launched assets that abuse the name and logo of the new network. None of these coins has anything to do with the original PUPPYNET project and its team.
At the same time, all legit assets associated with Shiba Inu (SHIB) and its progress rocketed on the announcement of PUPPYNET's activation. SHIB added 3%, BONE jumped by 7.3% and almost entered the top 100 crypto assets by market capitalization, while the LEASH price increased by 7.4% in a few hours after the announcement.
Bonus: Is Ryoshi SBF?
Also, sharing the details of the PUPPYNET release, Shiba Inu (SHIB) lead developer Shytoshi Kusama decided to shed light on the identity of Ryoshi, the legendary inventor of Shiba Inu.
As U.Today previously reported, some on-chain researchers connected Ryoshi to Alameda Research, an infamous investment fund by Sam Bankman-Fried.
Shytoshi Kusama stressed that mysterious Ryoshi was much older than SBF and would have never run a centralized exchange. As such, he busted the myth about Alameda having ties to the Shiba Inu (SHIB) creator.
Closing thoughts
PUPPYNET is an open beta testing version of Shibarium, a much anticipated Shiba Inu (SHIB) L2. Starting from March 11, it is open for experimentation and invites all developers and entrepreneurs to start building.