Shiba

Shiba Inu

<p>Shiba inu is one of the largest adopted meme coins globally. Started as a joke this memecoin has a huge investor base now. A lot of crypto whales have their bags filled worth millions of dollars with Shiba inu tokens. On September 13, Lucie, the marketing lead at Shib posted from her X account about a major blockchain upgrade. This will incorporate ethereum’s latest tech into Shibarium. Let’s explore what has been happening in the Shiba inu ecosystem.</p>  
<h2 class="wp-block-heading" id="h-shiba-inu-network-upgraded">Shiba inu Network Upgraded</h2>  
<p>Lucie in her X post, shared details of the upgrade. She stated it is set for 2:30 am ET and will bring Bor upgrade (v1.3.7) and Cancun hard fork. These upgrades will boost the performance, security and scalability of the Shib blockchain.&nbsp;&nbsp;</p>  
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/LucieSHIB/status/1834643348914602096
 </div>
</figure>  
<p>The upgrade took place on Friday at <strong><a href="https://puppyscan.shib.io/block/0x5492615c9d467ce8136e68c8083e09a3cb82eb8af461042828bd3927db9a8ad1" target="_blank" rel="noopener noreferrer nofollow">block 4,697,000</a></strong>.This update marks a crucial transformation for the Puppynet testnet, designed to enhance the network’s efficiency and user experience.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-shiba-got-ethereum-powers">Shiba Got Ethereum Powers</h2>  
<p><strong><a href="https://news.shib.io/2024/09/13/holdshibarium-puppynet-gets-a-power-boost-with-bor-upgrade-and-cancun-hard-fork/" target="_blank" rel="noopener noreferrer nofollow">The update </a></strong>of Bor to version 1.3.7-bone-beta and the Cancun hard fork reflects the Shiba Inu development team’s efforts to refine and optimize the network by integrating Ethereum’s core software, Geth. This ensures that Shibarium benefits from Ethereum's latest features, improving block propagation, peer to peer networking and the execution of smart contracts.&nbsp;</p>  
<p>The PoS bridge, which facilitates asset transfers between Shibarium and other blockchains, has also received important updates. These updates ensure smoother cross chain operations and enhance the functionality and stability of the network.</p>  
<h2 class="wp-block-heading" id="h-enhances-gas-fee-and-disk-management">Enhances Gas Fee and Disk Management</h2>  
<p>To make transactions more efficient and affordable, the upgrade significantly optimized gas fees. The network has enforced a minimum gas price of 1 gwei to prevent spam and maintain a predictable fee structure. Along with this gas fee enhancement, the upgrade also introduced historical block data pruning to free up disk space and keep Shibarium lightweight as it grows. This makes node operations more manageable.</p>  
<p>Shib team has advised node operators to update their software to version 1.3.7-bone-beta. This update is essential to ensure compatibility with the new network enhancements.<br></p>  
<h2 class="wp-block-heading" id="h-how-did-the-upgrade-go">How Did the Upgrade Go?</h2>  
<p>In a private interview with Coinpedia, Lucie mentioned that the Shibarium upgrade went very smoothly. She also shared about the key changes that this latest upgrade brought into the network. She emphasized that the network has tightened its security to address potential vulnerabilities.</p>  
<figure class="wp-block-image aligncenter size-full is-resized"><img src="https://image.coinpedia.org/wp-content/uploads/2024/09/16145234/lucie.png" alt="" class="wp-image-351148" style="width: 100%;height:auto">
</figure>  
<h2 class="wp-block-heading" id="h-looking-ahead">Looking Ahead!</h2>  
<p>The successful upgrade of Shibarium, along with the integration of Ethereum’s best practices and key improvements in its security, scalability, and performance, has positioned the Shib blockchain for broader adoption. As the network grows stronger, more decentralized apps and users are expected to join, potentially increasing the Shib burn rate and driving its value up.</p>  
<p><strong>Also Read: <a href="https://coinpedia.org/price-analysis/xrp-failed-to-break-0-60-will-it-finally-soar-to-1/" rel="noopener noreferrer nofollow">XRP Failed to Break $0.60, Will It Finally Soar to $1?</a></strong></p>

Coinpedia Fintech News

Table of Contents

CoinPedia News

Other articles published on Sep 16, 2024

Binance Founder CZ Will Be Released From Prison on September 29

Bitcoin Name Service (BNS) Explained: .BTC Domains for Simpler Transactions

Texas Residents Protest Against Power Plant Expansion for Bitcoin Mining

Coinpedia Fintech News

6 Best Liquid Staking Platforms in 2024

Hedera Becomes Founding Premier Member of Linux Foundation’s New Decentralized Trust Initiative

Join our free newsletter for daily crypto updates!