Shib Association shares latest update, saying that it has started developing a new blockchain that will focus exclusively on SHIB.
Shib Association has shared its latest updates regarding the operations and upcoming developments of its blockchain.
For context, Shib Association is a new initiative launched by the community-driven Shiba Inu burn tracker ‘Shibburn.’ Notably, Shibburn introduced the association last month, stating that it would facilitate SHIB’s growth via the launch of significant developments, utilities, and innovative solutions.
The association said it will create a dedicated blockchain exclusively focused on SHIB. It noted that the network will not support any other Shiba Inu ecosystem tokens.
Development of SHIB-Focused Blockchain Begins
In a lengthy X post, Alex of Shibburn said the Shib Association team has already mapped out the blockchain’s architecture, adding that development has begun.
Alex mentioned that his old friend, a former employee of Google, will “get things started with the blockchain and have it ready for GitHub.”
Hi, everyone. This is Alex from Shibburn.
A month has passed since the Shib Association announcement, and we want to provide you with an update. We appreciate your patience as we have been preparing the organization. My sister will be managing this account soon to keep you…
— Shib Association (@ShibAssociation) September 23, 2023
He noted that some developers have contacted him and are willing to contribute to the blockchain.
“This modern blockchain will be an open-source project and follow the Proof-of-Participation consensus model. A repository on Github will be available soon where anyone can contribute,” he added.
Other Updates Regarding the Blockchain
Like Shibarium, Alex stated that the upcoming blockchain will also burn SHIB. However, he did not reveal how the tokens would be burned.
Furthermore, the Shib Association will not have a dedicated Telegram or Discord channel. It noted that the only platform where the community can interact with each other is via a page on X, which will be created later this week.
Shib Association also plans on launching its website and has already registered two domains in that regard.
Alex warned that the blockchain does not have any native token other than SHIB, adding that the team does not plan on launching a new token in the future.
In the meantime, Alex’s sister will manage the official X account of the Shib Association, and she will keep the community updated going forward.
Shibburn-Affiliated Blockchain and Shibarium Difference
It is worth noting that the upcoming blockchain is different from Shibarium, Shiba Inu’s official L2 scaling network.
While Shibarium uses BONE as its official gas token, users of the upcoming Shib Association network would pay transaction fees with SHIB.
Shib Association did not disclose whether the blockchain will be a fork of Shibarium or any prominent blockchain. Meanwhile, the team plans to share more updates about the project in the near future.
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