Shibarium, the layer 2 blockchain solution designed to enhance the Shiba Inu ecosystem, has achieved a significant feat by drastically reducing the time it takes to bridge to Ethereum. This latest development has sent excitement across the Shiba Inu ecosystem, as it is evidence of the constant and hard work put in by the team.
The Shibarium team made this upgrade in a bid to express their commitment to progress and to ensure that users engage more effectively in governance and drive collective action with newfound efficiency.
Shibarium Slashes Ethereum Bridge Time to 45 Minutes
The Shibarium team took to X (formerly Twitter) to announce the latest development. Excitingly, the team informed users that it has cut down the bridge time from Shibarium to Ethereum from one week (7 days) to 45 minutes.
Get ready for a much faster and smoother experience #SHIBARMY We’ve cut down the bridge time from #Shibarium to Ethereum from 7 days to approximately 45 minutes!
— Shibarium Network (@ShibariumNet) May 29, 2024
Notably, the initial 7-day delay was implemented to encourage a longer stay on the layer 2 solution and to stabilize token prices. However, all that has changed with the latest update, increasing user-friendliness and efficiency.
Furthermore, the announcement highlighted the mechanism for the new system. According to the post, the upgrade operates on a checkpoint mechanism for BONE token withdrawals. As a result, users will enjoy quicker withdrawals initiated after the upgrade. Additionally, this will allow users to move their BONE tokens faster and with greater agility, resulting in a smoother experience in the Shibarium ecosystem.
Consequently, users can now take advantage of new opportunities and react instantly to changes in the market rather than having to wait a week. Additionally, this acceleration significantly enhances the user experience within the Shiba Inu ecosystem and goes beyond a simple technological update. It specifically serves people working on application innovations and time-sensitive financial plans.
Ultimately, they stressed that the enhancement illustrates their commitment to advancement by allowing consumers to participate more actively in governance.
BONE Price Reaction Amid Upgrade News
Meanwhile, the price of BONE, the native token of the Shibarium ecosystem, has not been triggered by the news of the latest development. According to fresh data from CoinGecko, the token is seen to have dropped 6.5% of its value in the last 24 hours. At the time of writing, BONE is changing hands at $0.66.
Source: CoinGecko
What is more, its trading volume over the last day has declined by a notable 24.24% to $9.1 million. BONE has traded between the range of $0.6571 and $0.7148 in the last 24 hours. The possibility of the update affecting the price of the token is yet to be seen, however, investors are closely watching to see what plays out.
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