- Shibarium’s Puppynet moves to Sepolia for enhanced blockchain capabilities.
- Shibarium introduces its strategic mechanism for economic growth.
- Version updates solidify Shibarium as a top blockchain innovator.
In a significant move within the blockchain sphere, Shibarium’s Puppynet is set for a transformative shift as it transitions its underlying Layer 1 (L1) from the Goerli Network to the Sepolia Network. This strategic move reflects the dynamic nature of blockchain technologies and the necessity to align with more scalable and efficient infrastructures.
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The Goerli Network, a longstanding player in Ethereum’s testnet ecosystem, is gearing up for retirement, marking the end of a crucial chapter in the history of Ethereum and opening doors to advanced solutions.
Scheduled to go live on December 15th, 2023, Shibarium’s adoption of the Sepolia Network as its new L1 promises a more controlled and stable testing environment, closely mirroring the features of the Ethereum mainnet. Developers can expect a reliable platform for testing decentralized applications (dApps) and smart contracts as they adapt to this pivotal change.
Shibarium’s L2 Testnet, riding on the Sepolia Network, is not just a transition; it’s an upgrade. Focused on enhancing scalability, reducing transaction costs, and improving transaction speeds, this move addresses the growing needs of the blockchain community, especially in decentralized finance (DeFi) and non-fungible tokens (NFTs).
In conjunction with the network transition, Shibarium is unveiling a groundbreaking token burning mechanism. Set to commence in phases, this mechanism aims to strategically reduce token supply, potentially increasing the token’s value and contributing to the overall health of the ecosystem.
As the network experiences a surge in transactions and a notable rise in gas fees—up to 1000%—the token burning mechanism responds dynamically, creating a symbiotic relationship between network adoption and burning efficiency.
Shibarium’s commitment to innovation doesn’t stop here. The platform is actively pursuing version upgrades to enhance transaction speeds, smart contract functionalities, and user experiences. This comprehensive approach positions Shibarium as a frontrunner in blockchain innovation, ready to meet the evolving demands of the digital age.
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