Shibarium, Shiba Inu's Level 2 blockchain, has completed a major network upgrade. The Shibarium hardfork ushers in a new era for Shiba Inu (SHIB), according to the developers.
On May 2, the Shibarium blockchain network underwent a significant hardfork aimed at improving the network's performance and security. The hardfork was initiated at block level 4504576.
"Get ready for blazing-fast transactions and predictable gas fees!" announced the developers on Shibarium's official X page.
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A hardfork is a major software update that splits a particular blockchain network into two separate chains. It is designed to implement major changes that are not backward-compatible. The hard fork is being done to unlock "next-level capabilities" in the Shiba Inu network, providing new value and simplifying interactions using the Shibarium blockchain.
This step represents an important evolution for the entire SHIB ecosystem.
1. Technical changes.
The hardfork brings several important updates: the algorithmic structure has been improved, making transactions faster and more secure. In addition, changes have been made to the transaction matching mechanism, making the network more resilient to attacks. The developer interface has also been improved, making it easier to create and integrate new applications into the Shibarium ecosystem.
The new hardfork is expected to provide "lightning fast" transactions as well as "predictable" gas fees.
2. Impact on SHIB value.
Technical improvements in the blockchain could have a positive impact on the value of SHIBs. Faster and more secure transactions increase investor confidence. Increased functionality for developers contributes to the growth of shibarium-based applications, which in turn can lead to increased demand for SHIBs. However, it should be noted that market reactions can be mixed due to external economic and political factors.
Over the past 24 hours, SHIB went up 4.6% to $0.0000232, according to CoinGecko.
The Shibarium hardfork opens up new horizons for users and developers and strengthens SHIB's position in the market. Token holders should keep a close eye on further updates and market dynamics to maximize the potential of their investment.
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