Shiba Inu Team Completes Shibarium Hard Fork to Introduce Blazing-Fast Transactions

Shiba Inu Team Completes Shibarium Hard Fork to Introduce Blazing-Fast Transactions

Time Stamp: May 3, 2024 5:45 AM
Source Node: 2566091

The official X handle for the Shiba Inu layer-2 blockchain solution, Shibarium, has announced the completion of its highly anticipated hard fork. 

According to the announcement, the hard fork, which occurred at block height 4504576, will offer Shibarium users new and improved features.  

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The Shiba Inu ecosystem team stated that Shibarium users will enjoy blazing-fast transactions and predictable gas fees. Following the hard fork, Shibarium will enhance user experience and scalability by processing transactions faster than before. 

Additionally, the hard fork’s feature of predictable gas fees will allow Shibarium users to predict the fees they will pay for each transaction on the network. As a result, Shibarium’s gas fees, which usually fluctuate during high network traffic, will remain stable.  

Shibarium Latest Hard Fork 

The announcement comes a few days after the Shiba Inu development team revealed that the hard fork will focus on two major components: Bor and Heimdall. As reported earlier, the Bor hard fork became effective at block height 4504576 on May 2 at 02:30 AM (EST). 

In addition, the second hard fork, focusing on the Heimdall component, was scheduled to go live on May 3, at 12:30 AM (EST), or block height 3941864. 

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While the Bor upgrade centered on bolstering the calculation of state sync confirmation, the Heimdall hard fork revolves around bestowing “deterministic finality” on Shibarium. 

Notably, the Shibarium network had previously undergone a brief hard fork in the past. At the time, the swift hard fork, which focused on the Bor component, occurred at block height 1962000 in December 2023, less than three months after Shibarium’s mainnet launch. 

Shibarium Daily Transaction Volume Decline Despite Successful Hard Fork 

After the hard fork in December, Shibarium witnessed a jaw-dropping surge in transaction volume, reaching daily counts of 5 to 7 million transactions. 

Despite Shibarium’s latest hard fork, the network’s daily transaction volume has plummeted heavily due to the recent downturn in the broader market. 

Over the past 24 hours, Shibarium has only processed 3,490 transactions, according to data from Shibariumscan. Overall, the L2 network has processed 417,377,849 (417.37 million) transactions since launch.

It remains to be seen how the recently completed hard fork will impact Shibarium’s stats in the long term, especially transaction volume. 

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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