Shiba Inu's (SHIB) Layer 2 network Shibarium's eagerly awaited network update has been successfully completed. The new update is expected to bring "predictable" transaction fees and "extremely fast" transaction capabilities to the Shibarium network.
Unlocking New Features in the Shibarium Network
As known, an update, also called a hard fork, refers to a significant software update that splits a specific Blockchain network into two separate chains. It aims to implement major changes that are not backward compatible.
Last month, the Shiba Inu team announced that the update was necessary to unlock "next-level features" in the Shibarium network. This transformative update was deemed necessary to offer new value and simplify interaction with the help of the Shibarium Blockchain Layer 2 network.
The update is seen as a response by Shiba Inu developers to community demands. Enhancing usability and performance were top priorities for users of the popular Layer 2 solution. According to the Shiba Inu team, the new update was designed to keep the platform "affordable and accessible."
Developers Await User Feedback
The update's implementation was also a primary concern for security. The eagerly awaited update is expected to significantly enhance the platform's security and strength. Developers asked users to provide feedback about the new update, as it was very important for resolving potential issues. The team stated, "By offering these updates, your views and participation will help shape the ongoing development of Shibarium."
Following the smoothly conducted update, Shiba Inu's SHIB has seen a 6.2% increase in the last 24 hours, trading at $0.00002294. Despite the price increase, SHIB's trading volume has fallen by 22.13%, with recent data showing a trading volume of around $705 million.