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The team behind the Shiba Inu (SHIB) meme coin project has teased a major hardfork for Shibarium. Taking to its official X handle, the protocol’s developer said the upgrade is expected to go live on May 2 and will herald unique growth tracks for the Ethereum-based layer-2 scaling solution.
Big benefits of Shibarium hard fork
According to the announcement, the Shibarium hard fork will make it possible for the L2 to unlock new levels of capabilities. The team highlighted that this upgrade is about simplifying engagements with Shibarium. This in turn is a direct push to meet the expectations of its community.
Godfrey BenjaminOne of the major updates that will be made is the quicker block processing times that will be infused into Shibarium. Additionally, more predictable transaction fees will be introduced as this will directly address the performance concerns of the community.
Shibarium is a protocol with highly unstable performance metrics. In periods of high traffic, the transaction fee is typically varied, a major issue that needed prompt addressing. With this Shibarium hard fork, the team said it will smooth out this transaction fee variation and make the cost more predictable for all.
The team is also interested in innovations that will place Shibarium at the forefront of the blockchain tech sector. It pointed out that its ultimate goal is to empower its community such that it can truly innovate without limitations.
One major omission
To balance out the yearnings of the community, many members, though appreciative of the hard fork, are not pleased that there was silence about the automatic burning of SHIB.
Gamza KhanzadaevShiba Inu as a token is deflationary, and the burning approach is still done manually. Though there have been significant gains in the burn rate thus far, that it is manual leads to some consistent stoppages or downtimes.
Proponents believe that with a dedicated automatic burn portal, Shiba Inu can further be placed on a bullish pedestal in valuation boost.
Alex Dovbnya
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team