Shiba Inu’s special platform, Shibarium, is preparing to speed things up soon. This was announced by the lead developer, Shytoshi Kusama, and Kaal Dhairya on December 7.
This update will not only make the platform faster, it will also boost investors’ confidence.
Shiba Inu Less Expensive than Ethereum Network, Enthusiasts Pointed Out
Yesterday, December 7, there was a strong comparison between Ethereum network fees and Shiba Inu.
Shiba Inu supporter known as Clifford asserted that Ethereum’s fees are higher than Shiba Inu’s.
According to the user, Ethereum charges about $31.63 for a single transaction. On the other hand, users pay around $0.043 for each Shiba Inu transaction.
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It doesn’t stop there. Another X user added to this, saying that Shina Inu is more economically friendly than Ethereum.
The user added, “And also ETH is handling 13-14 transactions per second and Shibarium is probably handling 5 times more per second.”
Notably, even Bitcoin processes about 7 transactions per second. Even though Ethereum’s is lower than Shiba Inu, it is still above some project’s TPS.
However, the argument became more intense and Shiba Inu’s top developers had to step in.
Shibarium Can Handle 200 Transactions Per Second, Shiba Inu Developers Claims
Under the same discussion, Shiba Inu developers asserted that the upcoming update is essential for the network.
Shytoshi Kusama, the lead programmer said, the network can validate up to 200 transactions/second.
Surprisingly, that’s not even the main deal. According to Kaal Dhairya, the upcoming hard fork will the network faster and increase the capacity.
In Kaal’s words: “Actually it’s 200/ sec as per the current block limit for certain types of transactions, capacity is way higher and it will be increased with the increase in block capacity in the next hard fork.”
Notably, this statement was made under the lead developer’s Shytoshi Kusama post. This implies that Shiba Inu’s team is on the same page.
Meanwhile, know that Shibarium recently had its first hard fork at block 1,962,000. The motive for this is to make the layer 2 solution better and improve how burning works.
Presently no one is sure when the next Shibarium hard fork will happen. But Dhairya spilled something nice to the community “The capacity will be increased in the next hard fork.”
Shibarium Daily Transactions Surges Over 500% to New Milestone
Recently the Shibarium daily transaction hit a significant level of 5m plus. This is now the new all-time high.
Normally since the launch of the layer 2 solution, it had around 13,000 transactions daily. Surprisingly, a few days ago these daily transactions spiked very high.
Recall that, on Nov 30 the first spike happened. The daily transactions increased from 16,600 on November 29 to 748,000 on November 30.
Note that this represents a growth of more than 4,000%.
At the start of December, the network recorded another growth of around 582%. Following this nice record, the project’s marketing expert called the attention of the community.
(Source: X Platform)
In a tweet, she pointed out that more people are using the network. According to her, this will cause gas prices to go up. Also, it’s going to make SHIB burn faster.