- Dogecoin competitor, Shiba Inu (SHIB), has successfully completed its much-anticipated Shibarium hard fork.
- The hard fork promises faster transactions and predictable gas fees, potentially increasing the value and demand for the Bone ShibaSwap (BONE) digital asset.
- Since its beta release in July 2023, Shibarium has seen rapid growth, surpassing 2.5 million transactions and boasting over 1.2 million unique wallet addresses.
Shiba Inu’s Shibarium hard fork promises to revolutionize transactions with faster speeds and predictable gas fees, potentially boosting the value of the Bone ShibaSwap (BONE) digital asset.
Shibarium Hard Fork Completed Successfully
The team behind Shiba Inu, a dog-themed meme asset and competitor to Dogecoin, has announced the successful completion of the Shibarium hard fork. This development has been eagerly awaited by traders since it was first announced last year. The hard fork was completed at block height 4504576, promising blazing-fast transactions and predictable gas fees for users.
Shibarium: A Game-Changer for Shiba Inu
Shibarium is a layer-2 scaling solution that was initially released in beta for public use in July 2023. It employs both plasma and proof-of-stake (PoS) technology, enabling investors to transfer tokens between Shibarium and Ethereum (ETH), the leading smart contract platform. Lucie, a content market specialist for Shiba Inu, has highlighted the benefits of Shibarium, including lower gas fees, faster transactions, more use cases for the Bone ShibaSwap (BONE) digital asset, and enhanced security features. The reduced gas fees on Shibarium could significantly impact Bone, increasing its demand and potential value.
Shibarium’s Rapid Growth
Since its beta release, Shibarium has experienced rapid growth, surpassing 2.5 million transactions and reaching an average of 200,000 daily transactions. The protocol also boasts over 1.2 million unique wallet addresses using its service, while the amount of BONE has reached 27.1 million. At the time of writing, SHIB is trading for $0.000024, marking a 5.2% increase over the last 24 hours.
Conclusion
The successful completion of the Shibarium hard fork marks a significant milestone for Shiba Inu. With the promise of faster transactions, predictable gas fees, and potential value increase for the Bone ShibaSwap (BONE) digital asset, Shibarium could be a game-changer for the Shiba Inu ecosystem. As the protocol continues to grow and innovate, it will be interesting to see how this impacts the broader crypto market.
