- The Shibarium team has announced that a rate limit will soon be deployed on the public RPC endpoint.
- The price of SHIB seems to be gaining strength, recording positive returns across four of the five major trading sessions.
Shiba Inu’s layer 2 blockchain, Shibarium, will soon undergo a technical update to enhance decentralization and strengthen the network. To do this, a rate limit would be implemented on the public RPC endpoint. While this is usually done to restrict access and prevent overuse, abuse, and spam to stabilize the network, the Shibarium team explains that the reason transcends this.
According to them, the intention is to facilitate the building of a more robust and truly decentralized ecosystem. Based on the implementation, users and developers will now have to run their own Shibarium nodes.
Fascinatingly, the Shibarium team also believes that self-hosting a node would provide four key benefits. Firstly, there would be a significant increase in resilience. This means users would not be affected even when the public endpoints go down. Secondly, there would be unrestricted access since users could make many requests as needed.
Thirdly, there would be enhanced privacy. Experts explain that using public nodes makes user requests visible to third-party operators. Running their own nodes would ensure that this data is kept private and under their control. Finally, Shibarium would be more censorship-resistant and robust.
Above all, DApps and high-volume users were advised to use a dedicated node setup for optimal performance. For casual users, the Shibarium team cautioned that they may experience a minimal impact.
Shibarium’s Booming Performance
Currently, the Shibarium network is booming, with a recent update hinting that 1,519,769 transactions were recorded on May 22, with an average transaction fee of $0.00008. Within the same period, the total blocks recorded was 11,119,845, wallet addresses were 221,724,943, and the total transactions stood at 1,197,350,040.
In a recent update, CNF reported that Shibarium could power SHIB to a significant height once it manages to secure just 10% of the Total Value Locked of Ethereum. Working towards this, Shibarium has launched a DApp store with over 1200 decentralized applications, as featured in our earlier discussion.
Technically, its current performance is reflected in the price of SHIB, which has printed gains across four of five major trading sessions. According to market data, the asset has surged by 2.7% in the last 24 hours, 2.75% in the last seven days, 13% in the last 30 days, and 1.58% in the last 90 days. However, SHIB is still 28% down from its year-to-date high of $0.00003328.
Earlier, the marketing lead of Shiba Inu, Lucie, predicted that the asset could print a 1000% gain in just three days. As explained in our previous news brief, this was supposed to position the price at $0.00014806 and send its market cap to $87.24 billion. However, this failed to see the light of day.
Commenting on this, analyst Javon Marks highlighted that a 500% surge is more realistic for SHIB. As indicated in our news coverage, this implies that the asset could trade at $0.000081 in the medium term. Meanwhile, Grok3 positions the long-term value of the asset at $0.01.
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