Shiba Inu (SHIB), a competitor of Dogecoin (DOGE), has made an exciting announcement about the completion of its highly anticipated Shibarium hard fork. Taking to the social media platform X, the team behind this dog-themed meme asset announced that they have officially finished the Shibarium hard fork, something that traders have been eagerly awaiting since last year.
The team stated, “Shibarium has successfully completed its hard fork at block height 4504576! Get ready for blazing-fast transactions and predictable gas fees!”
Shibarium is a layer-2 scaling solution that first introduced a beta bridge for public use in July 2023. This solution combines plasma and proof-of-stake (PoS) technology to enable investors to transfer tokens between Shibarium and the leading smart contract platform Ethereum (ETH).
In June 2023, Lucie, a content market specialist for Shiba Inu, highlighted the advantages of Shibarium. These advantages include lower gas fees, faster transactions, more use cases for the Bone ShibaSwap (BONE) digital asset, and enhanced security features. Lucie stated, “Shibarium empowers projects by offering scalability, cost-effectiveness, and enhanced security. The reduced gas fees on Shibarium can have a significant impact on Bone, increasing its demand and potential value. With Shibarium, projects have the opportunity to innovate, expand, and create a more accessible and thriving decentralized ecosystem.”
By September 2023, Shibarium had experienced rapid growth, with over 2.5 million transactions in total and an average of 200,000 daily transactions. The protocol also boasted over 1.2 million unique wallet addresses using its services, with the amount of BONE reaching 27.1 million.
As of now, SHIB is trading at $0.000024, reflecting a 5.2% increase in the last 24 hours.
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