The Shibarium hard fork is set to bring about significant changes that aim to improve the user experience and strengthen the network infrastructure. Key objectives include faster transaction processing speeds for quicker confirmations and standardized transaction fees to ensure cost-effectiveness, especially during high network activity.
The Shiba Inu development team is preparing for a major upgrade to the Layer-2 network Shibarium, which will launch this week on Thursday, May 2. This upcoming upgrade will transform the user experience while supporting the rapidly growing Shibarium ecosystem.
1/ SHIBARMY, we are about to undergo a game-changing upgrade for Shibarium. Through an upcoming hard fork scheduled for May 2nd, we are introducing a range of new features to enhance the user experience and empower our community of innovators and developers. — Shib (@Shibtoken) April 25, 2024
As this is a hard fork upgrade, all users will be required to upgrade their Shibarium software. The upcoming hard fork will bring significant changes to the network, with a primary focus on improving transaction processing speeds for faster confirmations. This improvement will streamline network operations and alleviate congestion issues during peak activity periods, as reported by Crypto News Flash.
Furthermore, the hard fork aims to standardize and stabilize transaction fees, particularly during times of high network demand. This strategic adjustment aims to prevent fee spikes that could discourage transaction participation. By optimizing fee structures, the network aims to enhance cost-effectiveness and create a more welcoming environment for all users.
The upgrade will prioritize network security and overall stability. Enhanced security protocols and a robust infrastructure will strengthen the network’s resilience against potential threats, ensuring a secure and reliable environment for transactions.
Shibarium’s primary goal is to prepare for widespread adoption by seamlessly integrating the next billion users into its network. This initiative involves enhancing network capabilities while ensuring affordability and user-friendliness.
Significantly, the team expects a substantial reduction in transaction costs, with fees projected to drop as low as 0.0000219 BONE ($0.00001). This commitment highlights Shiba Inu’s dedication to fostering a more inclusive financial ecosystem.
Following Shiba Inu’s impressive surge in late February and early March 2024, speculation has arisen about the meme coin’s potential to reach $0.01. The price surge has instilled confidence among investors and revived predictions of significant growth. The $0.01 target, previously viewed skeptically by some, is now a topic of discussion within the community, according to the CNF report.
Lucie, Shiba Inu’s marketing lead, recently expressed optimism about SHIB’s potential to reach $0.01. While initially hesitant to comment during the initial price surge, Lucie emphasized her unwavering belief as a long-term investor since 2021. She has consistently maintained that SHIB has the ability to achieve ambitious price targets, including $0.01, although she cautioned that reaching this milestone may take time.
Previously considered unattainable, reaching $0.000045 required a monumental increase of over 700% from its low of $0.00000543 in June 2023. However, SHIB’s ability to surpass expectations has fueled optimism for similar achievements in the future.