Shibarium, the official X handle for the Shiba Inu layer-2 blockchain solution, has announced the successful completion of its highly anticipated hard fork. This exciting development, which took place at block height 4504576, brings a range of new and improved features to Shibarium users.
The team behind the Shiba Inu ecosystem has stated that users can expect blazing-fast transactions and predictable gas fees as a result of the hard fork. With this upgrade, Shibarium aims to enhance user experience and scalability by processing transactions at an even faster rate than before.
One of the key features of the hard fork is the introduction of predictable gas fees. This means that Shibarium users will be able to accurately predict the fees they will need to pay for each transaction on the network. Unlike before, when gas fees would fluctuate during periods of high network traffic, Shibarium’s gas fees will now remain stable.
The recent announcement comes shortly after the Shiba Inu development team revealed that the hard fork would focus on two major components: Bor and Heimdall. The Bor hard fork went live on May 2 at 02:30 AM (EST), at block height 4504576. The second hard fork, centered around the Heimdall component, was scheduled to take place on May 3 at 12:30 AM (EST), or block height 3941864.
The Bor upgrade primarily aimed to strengthen the calculation of state sync confirmation, while the Heimdall hard fork focused on bestowing “deterministic finality” upon Shibarium.
It is worth noting that Shibarium has undergone a previous hard fork in the past. In December 2023, just three months after the mainnet launch, a swift hard fork focusing on the Bor component took place at block height 1962000.
Following the hard fork in December, Shibarium experienced a significant surge in transaction volume, with daily counts ranging from 5 to 7 million transactions. However, the recent downturn in the broader market has heavily impacted Shibarium’s daily transaction volume. Over the past 24 hours, only 3,490 transactions have been processed on the network, according to data from Shibariumscan. Since its launch, the L2 network has processed a total of 417,377,849 (417.37 million) transactions.
It remains to be seen how the recently completed hard fork will affect Shibarium’s long-term statistics, particularly in terms of transaction volume.
Please note that this article serves as informational content and should not be considered financial advice. The views expressed in this article are solely the author’s opinions and do not reflect the perspective of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic holds no responsibility for any financial losses incurred.