As an analyst with extensive experience in the crypto space, I must say that the recent updates on Shibarium Net’s mainnet are nothing short of impressive. Having closely followed the developments in the Shiba Inu ecosystem, I can confidently say that these upgrades mark a significant step forward for the project.
The verified X account on Twitter, ShibariumNet (@ShibariumNet), announces the rollout of significant updates for the primary network of Shibarium.
Heimdall and Bor hardforks upgraded
The tweet disclosed that the latest update encompasses the recent changes in Heimdall and Bor hardforks, together with a fresh contract for eliminating SHIB meme tokens. As per the post, this current update aligns Shibarium’s mainnet with Ethereum‘s Dencun hardfork and the functionalities it introduced on the second largest blockchain network.
According to the team’s published guidelines, it is advisable to initiate the Heimdall upgrade first, followed by updating the Bor features. As per the documents, the newest version of Heimdall enables smooth functioning in the post-Dencun environment for users. In simpler terms, you should start by upgrading Heimdall and then proceed with Bor’s update, as suggested in the documents, because the latest Heimdall version allows for effortless operations in the post-Dencun environment.
The mainnet of Shibarium has been upgraded! The Heimdall and Bor hardforks are now active, incorporating Ethereum’s Denascan compatibility, improved stability, optimized operation, and a new contract for upgradeable burns! For more details, check it out here. 👉
— Shibarium Network (@ShibariumNet) December 3, 2024
Regarding the Bor update, it emphasizes enhanced functionality, improved security, and streamlined blockchain administration. Additionally, it introduces a revamped SHIB burn mechanism. This burn mechanism has been revised to accommodate potential future advancements and improvements.
New SHIB burn contract to be integrated
At block number 820,0512, the recently developed SHIB burn mechanism will be implemented. As of now, specifics about it are scarce, but what we know is that this latest update will introduce a substantial new aspect. This feature is expected to decrease the overall token count, thereby increasing the worth for holders.
An important warning was also made that, before downloading the upgraded hardfork versions, node runners need to update their nodes to the latest versions too.
2.02 billion SHIB destroyed
According to U.Today’s report, the Shiba Inu community has successfully eliminated a massive number of meme coins in the last 24 hours – a whopping 2,022,950,833 SHIB tokens. The majority of these meme coins, about 2,020,624,700 SHIB, were burned during a single transaction, causing a significant increase in the Shiba Inu’s burn rate by approximately 3,162.56%.
In the comments section of the X post shared by the Shibburn tracker, fans of the Shiba Inu breed expressed that it’s highly probable that the massive SHIB burn was performed by the creator of the SquidGrow meme cryptocurrency, who goes by the name Shibtoshi. This week, he incinerated 2,020,624,700 SHIB tokens, whereas last week saw him eliminate 1,003,266,585 SHIB coins from circulation.
Overall, with his help, the SHIB community managed to dispose of 3,162,301,655 SHIB in November.
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2024-12-03 17:23