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Optimism and Shibarium: Upcoming Upgrades to Enhance Security, Stability, and Performance
Optimism and Shibarium, two leading blockchain networks, are gearing up for significant upgrades that will enhance their security, stability, and performance. The updates are intended to address security flaws, enhance functionality, and potentially alter the value of their individual tokens.
Optimism’s Major Mainnet Upgrade
Optimism, an Ethereum-based scaling solution, has revealed plans for a major mainnet upgrade. This upgrade will address vulnerabilities discovered during rigorous security audits by leading companies like Spearbit, Cantina, or Code4rena. The Optimism upgrade proposal involves two components: smart contract upgrades that will strengthen the network’s fault-proofing system and an L2 hard fork.
These audits identified vulnerabilities that, if left unaddressed, could compromise the integrity of the existing network. The upgrade will also improve the functionality of Guardian and DeputyGuardian, two key modules within Optimism’s architecture. The optimisation team has highlighted the importance of a more secure and robust network to meet the growing need for decentralized applications and finance protocols.
Shibarium’s Hard Fork and Burn Mechanism
Shiba Inu (SHIB) token’s Layer-2 scaling solution, Shibarium, currently under development, also has a hard fork with incorporated new burn mechanism directly linked to base transaction fees: “Shibarium announces it’ll roll out today,” according to Bloomberg. By using this mechanism, the overall supply of SHIB tokens will be reduced, which may result in a rise in token value.
The new burn mechanism will convert 70% of transaction fees into SRI token and eliminate these from circulation, ultimately impacting the price of the SLIB toll (although the exact effects are yet to be determined). Despite the lack of confirmation, it is anticipated that Shibarium will implement its hard fork in the near future.
Notes and Predictions
Both Optimism and Shiborium have not yet disclosed their potential price implications, but speculation within the crypto realm appears to be heating up. Hopefully, this initial emphasis on security and stability will encourage more users to use the network. Optimism and Shibarium are both taking steps to improve user experience through their hard fork, which has generated excitement among SHIB token holders due to the potential for significant price hikes.
These upgrades are likely to have far-reaching effects on the wider crypto ecosystem. To stay up-to-date on the latest developments, check out CoinSeeks.com’s article on “Optimism and Shibarium Upgrades: What to Expect”, which provides valuable insights and information on the topic.
Conclusion
In summary, the upcoming upgrades by Shibarium and Optimism are significant developments in the crypto space. As both networks strive to improve security, stability, and performance, users can expect enhanced experiences and potentially new opportunities for growth. Although the impact of these developments remains uncertain, there is a clear indication that the crypto ecosystem will undergo significant changes in the coming weeks and months.
