The Shiba Inu Team has announced the successful completion of the Shibarium Hard Fork
Last Updated on May 22, 2024 by Michael Motha
Shibarium, the layer-2 blockchain solution of Shiba Inu, has recently announced the completion of its hard fork through a post on its official X account. The upgrade, executed at block height 4504576, brings forth a range of new features aimed at enhancing user experience within the Shibarium ecosystem.
“#Shibarium has successfully concluded its hard fork at block height 4504576! Prepare for: •Swift transactions! •Consistent gas fees!” declared Shibarium.
The decision to undertake this hard fork was driven by the Shiba Inu community’s feedback and the necessity to unlock advanced functionalities for users. Emphasizing the importance of improving usability and performance, the team assured that the upgrade maintains affordability and accessibility for all users.
With the completion of the hard fork, users can expect accelerated transaction speeds and more predictable gas fees. The upgrade primarily focused on two key components: Bor and Heimdall. Bor enhances state sync confirmation calculations, while Heimdall aims to provide deterministic finality for Shibarium.
This isn’t the first hard fork for Shibarium; a previous swift hard fork occurred at block height 1962000 in December 2023, shortly after the mainnet launch. Following the December hard fork, Shibarium experienced a surge in transaction volume, although the recent hard fork coincided with a dip in trading volumes due to the broader crypto market downturn.
Data from Shibariumscan indicates a significant decrease in transaction volume during the current intraday session, with only 3,490 transactions processed, contrasting with the previous peak of 5 to 7 million transactions. At press time, SIHB trades at $0.00002291 according to Coincodex, reflecting a 1.20% decline over the past 24 hours.
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Michael Motha is the Founder and Managing Director of CryptoNewsOnlineHub and works as a freelance Project Head. He is a dedicated Crypto enthusiast and researcher focusing on blockchain trends, digital assets, and emerging crypto technologies. With academic qualifications in Physics, MBA, and B.Ed from Loyola College, Chennai, he brings clarity to complex crypto topics through insightful content. Outside of crypto, he enjoys blogging, travel, music, and sports such as badminton and tennis.
