SHIB Lead Says Shibarium Ready for Prime Time, XRP Army Receives Warning in Wake of New Development, Polygon Founder Unveils Massive MATIC Upgrade: Crypto News Digest by U.Today

U.Today presents the top three new stories over the past day.

Shiba Inu lead Shytoshi Kusama says Shibarium ready for prime time

Yesterday, Aug. 28, SHIB lead Shytoshi Kusama released a new blog post devoted to the relaunch of Shibarium. To the great delight of all SHIB enthusiasts, he announced that the Layer 2 protocol is now live and "ready for prime time." Kusama wrote that before the announcement was released, Shibarium accumulated more than 65,000 wallets and processed 350,000 transactions. At the moment of writing, per Shibariumscan.io, both metrics have grown significantly, constituting 150,000 wallet addresses and 463,464 transactions. Kusama also thanked the Polygon team for its great help bringing Shibarium back to life, adding that the choice to pivot to fork Polygon was the "correct one."

Related

Mon, 08/28/2023 - 13:02

Trillions of Shiba Inu (SHIB) Shifted From Exchanges in Major Move

Tomiwabold Olajide

XRP: Important warning issued to community in wake of this development

In a post from yesterday, XRPL Labs official X handle shared a link to a recently published whitepaper for Xahau, the smart contract sidechain for the XRPL ecosystem. The announcement was met with great excitement among the XRP community; however, every novelty gives scammers a new opportunity. To prevent those interested in Xahau from falling prey to malefactors, XRP Forensics, an X account dedicated to preventing and countering financial crimes on XRPL, issued a warning. In their post, they alerted the community about the likelihood of a new wave of scams appearing on the heels of the Xahau whitepaper release. "There is no Xahau airdrop. There are no giveaways. Don't share your keys," the post reads.

Polygon founder unveils massive upgrade coming to MATIC token

Sandeep Nailwal, cofounder of Polygon, has taken to social media to share details on POL, a massive technical upgrade to the MATIC token. He wrote that POL offers the advantages of multi-chain staking without the additional risks associated with restaking. Nailwal then added that the Polygon ecosystem will be expanded from a single chain to an ecosystem of L2s that can easily interoperate with the Polygon 2.0 proposal. POL was created from the ground up to be the first hyperproductive token and a third-generation token, which will allow holders to secure multiple networks and fulfill multiple roles. If the Polygon community approves the new proposal, MATIC will be upgraded to POL in a 1:1 ratio, as the two tokens cannot coexist in terms of protocol; POL can only replace MATIC.