Dogecoin (DOGE) competitor Shiba Inu (SHIB) has announced the completion of its highly anticipated Shibarium hard fork.
The team behind the dog-themed meme asset said in a new thread on social media platform Called They have officially completed the Shibarium hard fork, a move that traders have been anticipating since last year.
“Shibarium has successfully completed the hard fork at block height 4504576! Get ready: blazing fast transactions and predictable gas rates!”
Shibarium, a layer 2 scaling solution, initially released a public beta bridge in July 2023. The bridge leverages both Plasma and Proof-of-Stake (PoS) technologies to allow investors to move tokens between Shibarium and Ethereum, a leading smart contract platform. (ETH).
In June 2023, Shiba Inu’s content market expert Lucie detailed the benefits of Shibarium, including lower gas fees, faster transactions, more use cases for the Bone ShibaSwap (BONE) digital asset, and improved security features.
“Shibarium strengthens our projects by providing scalability, cost efficiency, and improved security. Shibarium’s gas bill savings could have a significant impact on Bone, increasing Bone’s demand and potential value.
With Shibarium, projects have the opportunity to innovate, scale, and create a more accessible and thriving decentralized ecosystem.”
It is known that Sybarium is growing rapidly, with total transactions exceeding 2.5 million in September 2023, reaching an average of 200,000 transactions per day. Additionally, the protocol was revealed to have over 1.2 million unique wallet addresses using its service, with an amount of BONE reaching 27.1 million.
SHIB is trading at $0.000024 at the time of this writing, up 5.2% in the last 24 hours.
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