The combustion mechanism of Shibarium has been in the spotlight lately, especially with the recent record of ‘over’ 8 billion Shiba Inu tokens burned in one day. This burning mechanism appears to have undergone an update, which could further improve performance.
Shibarium undergoes a rapid hard fork
A screenshot showing a discord message by DaVinci (a member of the Shiba Inu development team) recently surfaced online. In the post, DaVinci mentioned that Shibarium would undergo a hard fork at block 1962000. That suggests the upgrade has already taken place, as there are already over 2 million blocks on the layer 2 network at the time of writing.
Meanwhile, the main purpose of this hard fork is to improve the combustion mechanism of the network. This enables support for multiple fire tokens, with BONE And SHIB (Shibarium’s governance tokens) take center stage. DaVinci also told node providers that a Genesis update would be necessary because it was a hard fork.
Further clarification on what the hard fork for Shiba Inu entails
Shibarium had previously provided clarity on what this new era of the network entails. a blog post published on the Shibarium site mentioned that The combustion mechanism of Shibarium will be initially managed manually as part of this upgrade. This is to ensure alignment with the health and sustainability of the network. In this phase, the burning process is managed by the official implementer.
Once that’s done, Shibarium will apparently move to an automated system starting in January. As part of this transition, Shibarium is expected to undergo further upgrades in an effort to “improve efficiency and reliability.” According to the network, the automated roasting process will “work based on predefined rules,” although it did not provide further details on this.
Node provider NOWNodes noted in one blog post that this upgrade will also facilitate mass adoption of Shibarium. That could explain why it is necessary to improve the combustion mechanism as part of the upgrade. Considering that there is a connection between the transaction volume and token burnsShibarium must be well prepared to handle the number of tokens that need to be burned after a possible increase in the number of transactions.
The layer 2 network is currently flying high as the total number of transactions on it continues to rise. According to facts of the Shibarium Explorer, the total number of transactions on the network at the time of writing is over 58 million. Shibarium has surpassed the milestones of 5 million, 10 million, 20 million, and 35 million marks in about a week.
SHIB price reclaims $0.00001 | Source: SHIBUSD on Tradingview.com
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