Shiba Inu (SHIB) Teases Hardfork To Unlock New Capabilities, Price Reacts
Shiba Inu (SHIB) plans to introduce a hardfork on its Layer-2 scaling solution Shibarium as part of its transformative upgrade.
Shibarium Hardfork To Go Live In May
The hardfork is scheduled to go live on May 2nd, with the introduction of some crucial features that will enhance user experience on the protocol. In addition, the upgrade is expected to empower SHIB’s community of developers and innovators.
The developers behind the protocol strong believes that the hardfork is relevant to unlocking the next-level of capabilities and functionalities on the network.
1/ SHIBARMY, we are on the brink of a transformative upgrade for Shibarium.
Through an upcoming hard fork expected to go live on May 2nd, we're introducing a suite of new features designed to enhance user experience and empower our community of innovators and developers.
— Shib (@Shibtoken) April 25, 2024
“This isn’t just a technical shift; it’s about delivering new value and simplifying engagement with Shibarium,” Shiba Inu posted on its official X page.
Precisely, the Shibarium hardfork upgrade is designed to improve several activities on the protocol including facilitating faster block processing times and more predictable transaction fees. This is in direct response to the community’s feedback to improve the platform’s usability and performance.
During this transformative upgrade, Shiba Inu plans to address the challenge of transaction fee variations during high traffic times. Also, the L2 is looking to make costs more predictable and fair for all users. In the near future, this would contribute to ensuring that the platform maintains affordability and accessibility.
Shibarium to Boost Security and Efficiency
For every crypto protocol, attaining robust security, scalability and consistency is relevant to retain users trust and confidence. Having understood this core foundation, the Shibarium hardfork upgrade targets the improvement of the security and consistency of SHIB network.
SHIB identified the adoption and integration of unique practices as one way for Shibarium to remain relevant in the crypto sector as a true technology pioneer. These practices are particularly important for improving on the transparency and efficiency in the SHIB burn system.
With all of these additions, Shiba Inu sees prospect for Shibarium to become more robust, secure and easier to use.
The news of the upcoming Shibarium hardfork has triggered an upshoot in the SHIB ecosystem. SHIB price reacted positively to the information as it gained 3.2% in 24 hours.
At the time of this writing, the price of the crypto was pegged at $0.00002602. Coingape reported that Shiba Inu burn rate skyrocketed more than 2000% on April 25th, complementing the optimism over a potential recovery in the SHIB price amid a recent dip and a general crypto bear market.
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