As the Shiba Inu ecosystem grows day by day, ShibaNet will be one of the upcoming SHIB products that adds to the positive sentiment surrounding the token. NOWPayments allows merchants to accept SHIB as a payment method, and BitPay will soon allow Newegg and AMC to receive SHIB payments. A decentralized version of these payment systems has now become a target of the Shiba ecosystem.
Shiba Inu Leader’s Details
ShibaNet plans to be a decentralized marketplace that enables users to trade and execute transactions using the Shiba Inu ecosystem. Shiba Inu’s project leader, Shytoshi Kusama, shared his blog post titled “Shiba Inu Phase 2″ about ShibaNet. ShibaNet explained: “A financial institution only works as well as consumers and businesses that use their financial instruments.”
ShibaNet will work on the Shibarium Layer-2 and will try to address the high Ethereum transaction fees associated with crypto payments. However, SHIB will not be used in these transactions. To allow for a more stable payment setup, ShibaNet will use the stablecoin SHI, which is in the planning stages of the Shiba ecosystem.
Does It Meet Expectations?
There is no more comprehensive information about the features of ShibaNet yet. But Shytoshi gave some hints on what to expect. Kusama said he would be proud to offer the ability to split remaining or royalty payments between the parties once the contract is activated. It was also reported that artists and advances rarely see remnants, reducing the need for multiple hours of contract work in industries that are otherwise filled with shady contracts and deals.
Alongside Shiba Inu Game and Doggy DAO, ShibaNet stands out as one of the projects that will contribute to ShibArmy’s rising feeling for the future.