The Shiba Inu Team’s Plans for Shibarium in 2024
The team behind the Ethereum-based altcoin, Shiba Inu, has announced its plans for Shibarium, the project’s Layer 2 blockchain solution, set to be great by 2024. Shibarium made its mainnet debut in August 2023 and has gained attention for its impressive performance.
Impressive Stats of Shibarium
Since its launch, Shibarium has processed over 256 million transactions and generated around 2.4 million blocks. These transactions have been conducted by over 1.3 million wallet addresses.
Enhanced SHIB Burn Mechanism
To make Shibarium great in 2024, the Shiba Inu team plans to introduce an enhanced SHIB burn mechanism. They will launch a burn portal that automatically burns SHIB tokens based on predefined guidelines. The automated burn system is set to go live this month and will undergo further upgrades for improved efficiency and reliability.
Scalability Improvements
In an upcoming hard fork, the team aims to enhance the scalability of Shibarium. They plan to increase the network’s block capacity, enabling it to handle more transactions. Currently, Shibarium can process up to 200 transactions per second.
The Significance of the First Hard Fork
The completion of Shibarium’s first hard fork marked a major milestone for the Shiba Inu ecosystem. The fork brought significant changes to the network’s infrastructure, particularly in token-burning mechanisms and network layer effectiveness.
One notable change introduced in the fork is the enhancement of the token-burning mechanism. This technique aims to reduce the circulating supply of tokens and potentially increase their value. Initially, the process will be manual, but an automated system will be implemented in the future.
Hot Take: Shiba Inu’s Ambitious Plans for Shibarium
The Shiba Inu team has set ambitious goals for Shibarium, their Layer 2 blockchain solution. With impressive transaction and block numbers, they aim to further improve the platform’s performance and scalability. The introduction of an enhanced SHIB burn mechanism and upcoming hard forks demonstrate their commitment to achieving these goals. As Shibarium continues to evolve, it has the potential to make a significant impact in the crypto community and establish itself as a leading blockchain solution.
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