- Shiba Inu team member Lucie recently explained the concept of burns in the Shiba Inu ecosystem, citing founder Ryoshi’s decision to burn the keys to the Shiba Inu supply.
- Lucie clarified that for anything to be burned, it must first be purchased, and to conduct burns, income must be generated to facilitate the process.
- She also highlighted the upcoming hard fork of the Shibarium network, a significant step in the evolution of Shiba Inu’s blockchain ecosystem.
Explore the concept of burns in the Shiba Inu ecosystem, as explained by team member Lucie, and discover the upcoming hard fork of the Shibarium network in this in-depth article.
Understanding Burns in the Shiba Inu Ecosystem
Shiba Inu team member Lucie recently delved into the discussion of burns, citing Shiba Inu’s founder Ryoshi’s burning of keys to the Shiba Inu supply. Responding to a community member’s query about when burns were coming, Lucie explained that for anything to be burned, it must first be purchased. This implies that whatever would be destroyed must first be acquired. Furthermore, to conduct burns, users need to generate income to facilitate the process.
Shiba Inu Developers and Burns
Lucie also addressed calls for SHIB developers to initiate burns, clarifying that Shiba Inu’s lead, Shytoshi Kusama, and the other developers are not the key to burns as they do not hold tokens to burn. Instead, the SHIB community is the driving force behind burns, such as burning tokens or transactions. This explains why the focus is on drawing additional projects to Shibarium and encouraging users to bridge, as this is how more SHIB will be burned.
Shibarium Network’s Upcoming Hard Fork
The impending hard fork of the Shibarium network marks a watershed moment in the evolution of Shiba Inu’s blockchain ecosystem. The Shibarium hard fork includes significant updates to two key components of the Shiba Inu blockchain ecosystem: Bor and Heimdall. These fixes are intended to improve network efficiency, optimize consensus mechanisms, and introduce additional scalability-supporting functions. The hard fork events are planned as follows: Shibarium Bor Hard Fork: May 2, 2:30 a.m. EST (block height: 4504576). The Shibarium Heimdall Hard Fork is slated for May 3 at 12:30 a.m. EST (block height: 3941864). This hard fork implements milestones to reach deterministic finality on the Shibarium network, which improves transaction confirmation reliability.
Conclusion
Understanding the concept of burns and the role of the community in this process is crucial for SHIB holders. The upcoming hard fork of the Shibarium network also represents a significant development in the Shiba Inu blockchain ecosystem, promising improved network efficiency and transaction confirmation reliability.
