Importance of Upcoming Shibarium Upgrade Explained by SHIB Team

In a recently published tweet, the official marketing lead of the Shiba Inu team Lucie revealed the importance of the approaching new hard fork on Shibarium.

The upgrade is called Cancun and it is the second hard fork to be rolled out by the Shiba Inu developers this year. Along with that, the team will roll out a major upgrade for Puppynet.

Lucie underscores importance of coming tech upgrades

Lucie tweeted that this upgrade will be targeted at improving Shibarium and its testnet known as Puppynet. “It’s very important for developers,” Lucie pointed out.

She also stressed that Cancun will help the developer team to roll out “some awesome changes that will make things run smoother, faster, and safer.”

In a recently issued tweet, the official Shibarium account spread the word that the Puppynet Bor bone-beta + Cancun hard fork will be implemented next Friday at 8 a.m. UTC. The post also recommended the community to update their nodes “for top performance and security.”

Here's what Cancun hard fork will bring to Shibarium 

Cancun is expected to give a boost to transaction speed on Shibarium, make sure the storage system runs in a more efficient manner, and that the overall user experience improves.

The importance of Puppynet for Shibarium developers is about being able to test certain functions and aspects of the mainnet and toy with them before bringing them on Shibarium. Besides, like any other testnet, like Sepolia for Ethereum, it utilizes zero value, i.e., all the tokens on it are “not real” and worthless.

Cancun will be the second major Shibarium update after Bor, which was rolled out this summer. Among other things, this hard fork introduced the automated SHIB burn mechanism on Shibarium, which had been prior to that tested on Puppynet since January. Now, thanks to it, SHIB burns on Shibarium are conducted automatically after BONE fees get converted into Shiba Inu tokens.

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SHIB price soars while burn rate dips

Today’s Shib burn rate is negative so far, showing minus 5.09%. The overall amount of meme coins that have been locked in “inferno” wallets since last morning comprises 10,560,253 SHIB.

In the meantime, the release of news about the upcoming hard fork have coincided with a 5% price increase demonstrated by the second largest meme coin SHIB during the last 24 hours.