Shiba Inu (SHIB) has gained significant attention from the crypto community, with its meme-inspired token becoming one of the most traded cryptocurrencies.
However, the team behind SHIB has announced the development of Shibarium, a blockchain platform that aims to provide a decentralized platform for users to trade SHIB and other tokens. Shibarium’s ability to trade SHIB on a decentralized exchange will give SHIB a new use case and could result in a price hike.
Ethereum (ETH) is also preparing for the highly anticipated Shanghai upgrade, which is set to improve the network’s scalability and speed. However, RenQ Finance (RENQ) has already surpassed its presale stage 2, showcasing its potential as a top-performing token in the market.
In this article, we’ll discuss Shibarium, as well as the latest updates on Ethereum’s Shanghai Upgrade and RenQ Finance’s recent progress in its presale stage.
Shibarium: A Gamechanger for SHIB
The recent announcement of Shibarium, Shiba Inu’s blockchain, has generated a lot of buzz among SHIB investors. Shibarium is poised to provide a faster and more cost-effective platform for trading SHIB and other tokens, which is a promising prospect for the community.
However, it is important to acknowledge that creating a blockchain from scratch is a complex and time-consuming process. Thus, the success and widespread adoption of Shibarium is not guaranteed. Nonetheless, Shibarium is projected to increase the value of SHIB and bring a new use case for it, which could spur greater demand and ultimately lead to a price surge.
In conclusion, Shibarium’s beta release marks a significant development for the Shiba Inu community and the broader crypto market. With quicker and cheaper transactions, staking rewards, and a DEX supporting SHIB and other ERC-20 tokens, Shibarium has the potential to transform the Layer 2 solutions landscape.
Ethereum’s Shanghai Upgrade
Ethereum, the second-largest cryptocurrency by market capitalization, is gearing up for its upcoming upgrade, known as the Shanghai Upgrade. This upgrade is a series of upgrades for the Ethereum network that collectively have a significant impact.
The Shanghai upgrade is scheduled to launch in March 2023, following the Shandong network test, or testnet, in 2022. One of the most impactful upgrades in the Shanghai package allows ETH stakers to withdraw both their staked ETH and rewards earned, a long-awaited feature for Ethereum users and the crypto community at large. The EIP-4895 proposal establishes this change.
The Shanghai upgrade also includes several other proposals related to the Ethereum Virtual Machine (EVM) Object Format (EOF), which is a software component of all EVM-compatible blockchains. It contains more than 120 operation codes that enable decentralized programmability in networks.
However, if some of these proposals can’t be implemented in time, they will be postponed in the year to avoid delaying the unstaking of ETH.
One proposal that won’t be present in the March 2023 release is EIP-4844, which introduces “proto-danksharding.” This upgrade sets up the highly anticipated sharding upgrade for Ethereum, expected to launch in 2024. This upgrade aims to increase scalability by sharding data, a technique that partitions databases to enable platforms to process more transactions per second.
RenQ Finance’s Progress in Presale Stage 2
RenQ Finance (RENQ) recently completed its highly anticipated presale stage 2, which was oversubscribed within a few weeks, selling over 100 million tokens and raising $2.35 million from enthusiastic investors. This decentralized finance (DeFi) project, built on the Ethereum blockchain, aims to solve some of the issues associated with the current DeFi ecosystem, such as high transaction fees, slow transaction times, and limited accessibility.
The presale began in early January 2023 and attracted a lot of attention from investors in the crypto community. Investors participated by contributing ETH through the token launchpad platform. RenQ Finance’s objective is to provide a platform for decentralized borrowing and lending, allowing users to earn interest on their cryptocurrency holdings. It is designed to be user-friendly, secure, and transparent.
RENQ’s strong fundamentals and limited supply of tokens are factors that could contribute to its continued growth and adoption. Additionally, its multi-chain approach is a unique feature that allows users to access the platform through different blockchain networks, including Ethereum, Binance Smart Chain, and Polkadot, ensuring broad accessibility.
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The post Shiba Inu (SHIB) expects a boost from shibarium, Ethereum (ETH) gets ready for Shanghai Upgrade, RenQ Finance (RENQ) breezes past its presale stage 2. appeared first on Analytics Insight.