Can Shibarium's hard fork elevate it to top layer-2 blockchain? Insights.

Author : Andrew Stauss | Published On : 29 Apr 2024

Shibarium, launched in August 2023, has processed approximately $417 million in transactions, with an average daily transaction count of 3.76K. The hard fork’s primary goals are to speed up transactions and reduce fees, benefiting both current and future users. Transaction fees could drop to as low as 0.0000219 BONE, roughly $0.00001, making the platform more accessible.

The hard fork is part of a strategic move to prepare Shibarium for future scalability and to support the network’s goal of onboarding the next billion users. As the upgrade brings faster transactions and lower costs, Shiba Inu continues to strengthen its presence in the crypto space, potentially influencing SHIB’s market dynamics positively. This development marks a crucial step towards a more efficient and accessible future for the Shibarium network.