TL;DR
- Shibarium, the layer 2 network of Shiba Inu, successfully completed its hard fork on May 2, offering lightning-fast transactions and predictable gas fees.
- The hard fork introduces fundamental changes in the network’s software, making the network more affordable and accessible for users.
- In addition to improving usability and performance, the update aims to foster innovation in DeFi by providing a more robust and secure platform for developers and users.
Shibarium, the layer 2 network of the Shiba Inu ecosystem (SHIB), successfully completed its hard fork on May 2. This update promises to deliver lightning-fast transactions and more predictable gas fees, enhancing the user experience on the network.
The hard fork took place at block 4,504,576 and introduces fundamental changes in the network’s software, making it incompatible with previous versions. The update process aims primarily to make Shibarium more affordable and accessible for its growing user base. Shiba Inu developers are excited about the new capabilities unlocked, emphasizing that it’s not just a technical shift but about delivering new value and simplifying interaction with the network.
1/ #Shibarium has successfully completed its hard fork at block height 4504576!
Get ready for:
•Blazing-fast transactions! ⚡
•Predictable gas fees! ⛽️ pic.twitter.com/oQrtF3OMTe— Shibarium Network (@ShibariumNet) May 2, 2024
In addition to improving usability and performance, the update also aims to foster innovation in the decentralized finance (DeFi) sector. By providing a more robust and secure platform, Shibarium seeks to support developers and users eager to explore new possibilities.
Shibarium’s Hard Fork Could Trigger Bullish Momentum
From a market perspective, analysts are optimistic about the impact of the hard fork on the price of SHIB, its native token. Despite recent challenges due to market volatility, SHIB is expected to experience bullish momentum from the network improvements. Currently, the token is at a key position, on the verge of a potential value increase.
Technical analysis shows that SHIB is forming a “cup and handle” pattern, with a critical level at $0.00002349. A successful breakout above this level could lead to a token value increase, while failure to surpass it could result in a price correction.
With faster transactions, more predictable gas fees, and a renewed focus on accessibility and innovation, Shibarium is ready to push its limits.
