{"id":548545,"date":"2023-08-24T00:10:32","date_gmt":"2023-08-24T00:10:32","guid":{"rendered":"https:\/\/wncen.com\/?p=548545"},"modified":"2024-06-11T07:48:56","modified_gmt":"2024-06-11T07:48:56","slug":"shiba-inu-implementing-shibpaper","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-implementing-shibpaper\/","title":{"rendered":"Shiba Inu Team Will Start Implementing ShibPaper, What does This Mean?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Following <\/span><a href=\"https:\/\/bitcoinist.com\/shibarium-shiba-inu-price\/#:~:text=Botched%20Shibarium%20Launch%20Sends%20Shiba%20Inu%20Price%20Spiraling%20Downward,-by%20Scott%20Matherson&amp;text=The%20launch%20of%20the%20Layer,undesirable%20impact%20on%20SHIB's%20price.\" rel=\"nofollow\"><span style=\"font-weight: 400\">Shibarium\u2019s botched launch<\/span><\/a><span style=\"font-weight: 400\">, the network\u2019s developers promised to provide regular updates as the network put measures in place to scale and handle any substantial amount of traffic. And in his latest update, lead developer Shytoshi Kusama has revealed plans to start implementing the \u201c<\/span><span style=\"font-weight: 400\">ShibPaper<\/span><span style=\"font-weight: 400\">.\u201d<\/span><\/p>\n<h2>What Is The ShibPaper?<\/h2>\n<p><span style=\"font-weight: 400\">According to the blog <\/span><a href=\"https:\/\/blog.shib.io\/shibarium-scaling-update-4\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">post<\/span><\/a><span style=\"font-weight: 400\"> released on August 22, Kusama announced that the implementation of the ShibPaper will begin on August 23 in hopes that Shibarium can accomplish a huge part of its vision of becoming a \u201cdecentralized digital nation state\u201d this year.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/bitcoin-news\/grayscale-spot-bitcoin-etf\/\">The $20 Billion Delay: Appeal Court Pushes Back Decision On Grayscale Spot Bitcoin ETF<\/a><\/div>\n<p><a href=\"https:\/\/wncen.com\/shiba-inu\/shiba-inu-shibarium-launch-wallet\/\"><span style=\"font-weight: 400\">Shibarium<\/span><\/a><span style=\"font-weight: 400\"> had, before launch, been touted to become a major player in the DeFi space upon launch. However, users questioned its decentralized nature following the botched launch, with users\u2019 funds reportedly getting stuck on the Shibarium bridge.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This isn\u2019t the first time the ShibPaper has been mentioned as Shiba Inu\u2019s developer Kaal Dhairya highlighted the document in a <\/span><a href=\"https:\/\/twitter.com\/kaaldhairya\/status\/57878066?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">tweet<\/span><\/a><span style=\"font-weight: 400\"> on August 18, labeling it as the \u201cfoundation\u201d for Shibarium\u2019s decentralized digital nation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The ShibPaper, written by Shytoshi Kusama and described by him as \u201cthe most comprehensive decentralization document the world has ever seen,\u201d is simply a whitepaper outlining the ecosystem\u2019s plans to create a \u201cShiba Inu State\u201d which will act as a \u201cbeacon\u201d guiding the world towards decentralization.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the document, the Canine Code and Hound\u2019s Constitution will guide the Shiba Inu State. These \u201cfoundational scripts\u201d will be the law to the state&#8217;s citizens, called \u201cShibizens.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The state aims to imbibe values such as loyalty, unity, and service among members of the state. It also intends to promote a sense of collectiveness among Shibizens.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Shibarium has also left the door open to a future native token. Currently, the ecosystem is governed by the SHIB, LEASH, TREAT, and BONE tokens. However, it suggested in the ShibPaper that there could be \u201cpotential successors\u201d to these tokens.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Shibarium will back the current and future governance tokens with tangible assets \u201ctransparently overseen via blockchain smart contracts\u201d in a bid to maintain financial integrity.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/yqX7qOTM\/\" alt=\"Shiba Inu price chart from Tradingview.com (ShibPaper Shibarium)\" width=\"2884\" height=\"1746\"><\/p>\n<pre style=\"text-align: center\">SHIB price sitting at $0.00000826 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">SHIBUSD on Tradingview.com<\/a><\/pre>\n<h2>Next Steps For Shiba Inu And Shibarium<\/h2>\n<p><span style=\"font-weight: 400\">Although the Ethereum layer-2 network has resumed <\/span><a href=\"https:\/\/wncen.com\/shiba-inu\/shibarium-launch-stuck-eth\/#:~:text=Shibarium%20Launch%20Saga%3A%20Block%20Production%20Resumes%20Despite%20Stuck%20ETH,-by%20Scott%20Matherson&amp;text=The%20Shibarium%20didn't%20get,incidents%20as%20block%20production%20resumes.\"><span style=\"font-weight: 400\">block production<\/span><\/a><span style=\"font-weight: 400\">, it remains closed to the public. However, Kusama announced that the network is almost ready to reopen to the public as he<\/span><span style=\"font-weight: 400\"> revealed that the blockchain is now \u201cenhanced and optimized.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, as part of its efforts to protect users\u2019 funds if the network experiences a traffic surge again, the team has enabled \u201ca new monitoring system and additional fail safes.\u201d\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/shiba-inu\/shiba-inu-shibarium-launch-wallet\/\">Shiba Inu Community Leaves Shibarium Launch Troubles Behind As Wallet Count Crossed 10 Million<\/a><\/div>\n<p><span style=\"font-weight: 400\">While the network has undoubtedly endured a difficult start, Kusama believes the \u201cupcoming winners\u201d are the protocols and projects looking to build on it.<\/span><\/p>\n<p><span style=\"font-weight: 400\">He believes Shibarium\u2019s utility will lie in these protocols, products, and services. Just like Ethereum, which is known to host several \u201camazing platforms,\u201d Kusama mentioned that users will also have several options on Shibarium. He, however, advised them to DTOR (Do Their Own Research) going forward.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Unsplash, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Following Shibarium\u2019s botched launch, the network\u2019s developers promised to provide regular updates as the network put measures in place to scale and handle any substantial amount of traffic. And in his latest update, lead developer Shytoshi Kusama has revealed plans to start implementing the \u201cShibPaper.\u201d What Is The ShibPaper? According to the blog post released on August 22, Kusama announced that the implementation of the ShibPaper will begin on August 23 in hopes that Shibarium can accomplish a huge part of its vision of becoming a \u201cdecentralized digital nation state\u201d this year.\u00a0 Related Reading: The $20 Billion Delay: Appeal Court Pushes Back Decision On Grayscale Spot Bitcoin ETF Shibarium had, before launch, been touted to become a major player in the DeFi space upon launch. However, users questioned its decentralized nature following the botched launch, with users\u2019 funds reportedly getting stuck on the Shibarium bridge.\u00a0 This isn\u2019t the first time the ShibPaper has been mentioned as Shiba Inu\u2019s developer Kaal Dhairya highlighted the document in a tweet on August 18, labeling it as the \u201cfoundation\u201d for Shibarium\u2019s decentralized digital nation.\u00a0 The ShibPaper, written by Shytoshi Kusama and described by him as \u201cthe most comprehensive decentralization document the world has ever seen,\u201d is simply a whitepaper outlining the ecosystem\u2019s plans to create a \u201cShiba Inu State\u201d which will act as a \u201cbeacon\u201d guiding the world towards decentralization.\u00a0 According to the document, the Canine Code and Hound\u2019s Constitution will guide the Shiba Inu State. These \u201cfoundational scripts\u201d will be the law to the state&#8217;s citizens, called \u201cShibizens.\u201d\u00a0 The state aims to imbibe values such as loyalty, unity, and service among members of the state. It also intends to promote a sense of collectiveness among Shibizens.\u00a0 Shibarium has also left the door open to a future native token. Currently, the ecosystem is governed by the SHIB, LEASH, TREAT, and BONE tokens. However, it suggested in the ShibPaper that there could be \u201cpotential successors\u201d to these tokens.\u00a0 Shibarium will back the current and future governance tokens with tangible assets \u201ctransparently overseen via blockchain smart contracts\u201d in a bid to maintain financial integrity. SHIB price sitting at $0.00000826 | Source: SHIBUSD on Tradingview.com Next Steps For Shiba Inu And Shibarium Although the Ethereum layer-2 network has resumed block production, it remains closed to the public. However, Kusama announced that the network is almost ready to reopen to the public as he revealed that the blockchain is now \u201cenhanced and optimized.\u201d\u00a0 Furthermore, as part of its efforts to protect users\u2019 funds if the network experiences a traffic surge again, the team has enabled \u201ca new monitoring system and additional fail safes.\u201d\u00a0 Related Reading: Shiba Inu Community Leaves Shibarium Launch Troubles Behind As Wallet Count Crossed 10 Million While the network has undoubtedly endured a difficult start, Kusama believes the \u201cupcoming winners\u201d are the protocols and projects looking to build on it. He believes Shibarium\u2019s utility will lie in these protocols, products, and services. Just like Ethereum, which is known to host several \u201camazing platforms,\u201d Kusama mentioned that users will also have several options on Shibarium. He, however, advised them to DTOR (Do Their Own Research) going forward. Featured image from Unsplash, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":548547,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[83668,89178,89198,83667,89157,89199,87680,89156,89197],"class_list":["post-548545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shib-news","tag-shib-whitepaper","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-whitepaper","tag-shibarium","tag-shibarium-launch","tag-shibpaper"],"acf":[],"yoast_head":"\n<title>Shiba Inu Team Will Start Implementing ShibPaper, What does This Mean?<\/title>\n<meta name=\"description\" content=\"In his latest update, lead developer Shytoshi Kusama has revealed plans to start implementing the \u201cShibPaper.\u201d\" \/>\n<meta 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