Blockchain
Shibarium reaches a new milestone with the Hard Fork Bor & Heimdall
The Shiba Inu layer 2 blockchain Shibarium has successfully undergone a hard fork, attracting interest from the broader crypto community. Following the success of the Bor hard fork, the second update of the Heimdall hard fork is aimed at the reliability of the Shibarium blockchain’s transactions and facilitating the network’s achievement of “deterministic finality”.
Traders reacted to the hard fork immediately and SHIB price reached an intraday high of $0.00002345 gaining upside momentum after the reversal.
Shiba Inu successfully completes the Hard Fork
The Shiba Inu team reported the successful completion of the hard fork at block height 4504576. Shibarium networkthe official Shibarium blockchain account on X, also published on May 3 to communicate the new milestone to the broader crypto community.
The hard fork is a crucial development for Shiba Inu to optimize its blockchain infrastructure for future growth and adoption. To be more precise, the hard fork upgraded network performance, optimized transaction processing, and prepared for future growth and adoption.
“Get ready for lightning-fast transactions and predictable gas rates,” Shibarium Network said. These updates primarily aim to improve network efficiency, optimize consensus mechanisms, and introduce new features to support scalability.
Hard forks will reduce previously occurring synchronization issues, gas fees, and achieve deterministic finality on the Shibarium network.
The Shiba Inu team is looking into innovations and future developments in Web3 and decentralized finance space. Recently, the Shiba Inu decentralized exchange Shiba Swap migrated from Ethereum to Shibarium ushering in new DeFi features.
Shytoshi Kusama He also highlighted the $12 million in funding raised by market leaders for Layer 3 blockchain and Shibarium developments.
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Is SHIB price on the road to recovery?
SHIB price we saw a reversal after the whales began accumulating meme currency during the dive. The price has increased by 6% in the last 24 hours, with the price currently trading at $0.00002303. The 24-hour low and high are $0.00002176 and $0.00002343, respectively. However, trading volume has declined by 22% in the past 24 hours, indicating a decline in interest among traders.
Shiba Inu price can go up to $0.0001 in between purchase of whales assets, as per CoinGape Markets. The price may actually witness short-term weakness despite a rebound, to confirm the recovery.
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