Shiba Inu has released a major update regarding its developer hub Shibarium to enhance its infrastructure. This comes as Shibarium records an increase in daily transactions, which has also led to a rise in SHIB burns.
The Shibarium Upgrade By Shiba Inu Improves Decentralized Innovation
The most recent update by Shibizens on X shows that the hub contains clear steps on how to operate a validator node and develop on Shibarium, the Ethereum Layer 2 chain. The update also supports further decentralization and increased participation among developers.
There are also instructions on bridging other network assets to Shibarium. This further boosts the network’s interoperability with different networks. With updated documentation, developers now have the opportunity to integrate completely with ShibaSwap V1 and V2. This relationship smoothens the development of DeFi in the top meme coin’s ecosystem.
Advanced tools are included, such as SDKs for decentralized apps, a Hardhat plugin, and Alpha Layer support. Libraries like ElderJS and Elder-Wrap are documented for smart contract integration in the Shiba Inu ecosystem.
The hub also covers Shib Paymaster, which lets apps sponsor gas fees, and Bury 2.0, a reworked staking model. These features enhance the experience and reward participation.
The eligible network parameters, such as chain ID, RPC URLs, and token details, enable developers to connect quickly. Full Ethereum compatibility implies no need for a learning curve when deploying a decentralized application (dApp).
Examples of use cases supported by Shiba Inu’s Shibarium are low-cost payments, NFTs, and creator monetization. It is positioned as a flexible blockchain for real-world applications.
Shibarium Hits 1.42 Billion Transactions
Data from Shibariumscan shows that the cumulative transaction volume on Shibarium has reached 1.407 billion. This is a positive for the network, which has recorded significant daily activity over the last month.
Further data shows that daily transactions on the network have been above the three million mark over the past week. Meanwhile, the number of accounts on the network has steadily increased during this period.
Thanks to this development, there has been a 360% increase in the Shiba Inu burn rate in the last seven days. Shibburn data shows that 135 million tokens have been burned during this period. Meanwhile, there has also been a 2,742% increase in the burn rate in the last 24 hours, with 6.3 million tokens burned during this period.
However, the Shiba Inu price has decreased by almost 2% over the last 24 hours, currently trading at around $0.00001360, according to CoinMarketCap data. The meme coin is also down over 9% in the last seven days.
Paul
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others.
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