Shibarium, the layer-2 network at the heart of the Shiba Inu ecosystem, has undergone its first hard fork. This upgrade brings significant changes, including an enhanced burning mechanism and support for a multiple-token burn model.
DaVinci, a key figure in the Shiba Inu development team, shared resources and details for a smooth transition after the fork via Discord. They encouraged relevant parties to align their Bor genesis with updated configurations from other instances. The development team also shared an updated genesis file and the necessary post-update command to ensure a seamless process.
The primary focus of the fork was a significant enhancement to Shibarium’s burning mechanism. This move aims to include a burn mechanism for BONE, the governance token of the Doggy DAO. This has been met with mixed reactions within the community, with some welcoming the development and others questioning the necessity of burning BONE.
NOWNodes, a leading provider of blockchain infrastructure solutions, sheds more light on the fork in a separate disclosure. They touted Shibarium as a solution that offers a more streamlined environment for DeFi and NFTs. Notable changes include the migration of layer-1 of Shibarium’s Puppynet, the testnet, from the Goerli Network to the Sepolia Network.
Shiba Inu’s Promise of Enhanced Burns
Shibarium has promised to enhance SHIB burns, helping to reduce the Shiba Inu supply. The network recently made its first burn. With the latest upgrade, the burn mechanism initially managed manually, is set to transition to an automated system, enhancing efficiency and transparency.
The Shibarium network will witness continuous upgrades, focusing on both manual and automated burning processes and ensuring adaptability. Version upgrades will target enhanced transaction speeds and improved user experiences.
The NOWNodes team believes that the Shibarium fork could facilitate mass adoption. They point to the network’s increased scalability, allowing developers to deploy more transactions within a condensed timeframe. This, coupled with instant real-time on-chain data sources, further fuels the platform’s appeal.
The Shibarium hard fork marks a significant milestone for the Shiba Inu ecosystem. With enhanced burning mechanisms, support for multiple token burn models, and ongoing upgrades, Shibarium is poised to play a key role in the future of Shiba Inu. The success of this upgrade will depend on continued community support and developer adoption.