The Shiba Inu [SHIB] network has been expanding and proving to be much more than a meme coin. Several coins in the cryptocurrency market lack utility, and SHIB doesn’t want to be one of them. The team behind Shiba Inu has been putting out several updates in order to boost the network. More recently, Shiba Inu updated its documentation. Kuro, a Shiba Inu community member from Japan, shed light on the same.
According to Kuro’s tweet, the documentation had three new updates. This included Build on Shibarium, Become a Validator, and Bridge Assets. The first update focuses on giving out instructions on how developers can build and launch decentralized apps on Shibarium, SHIB’s layer-2 blockchain.
‘Become a Validator’ is the second update, and it has the procedures for allowing users to become Shibarium validators. To preserve the integrity and security of the network, this involves verifying blocks and transactions. According to the paper, validators help Shibarium become more decentralized so that no one party may control the entire network.
In the last section, instructions for “bridge assets” on Shibarium are included. An in-depth description of how users can move digital assets between Ethereum and Shibarium is given in this section. An explanation of “Token Bridge,” its importance, and how users may utilize the functionality are provided in the documentation.
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How is Shibarium Faring?
Shibarium has been one of the most talked-about developments in the cryptocurrency market. Even after its launch, it was relevant, as it broke a number of records in the previous several months. But lately, the network’s development has stopped. The latest data reveals that 5,740 fresh blocks have only been processed on Shibarium. This is a decrease of about 70% from the 17,214 recorded the previous day. In addition, two days later, there were only about 6,000 daily transactions. This was down from over 14,000 on June 30.
Shiba Inu, at press time, was trading at $0.00001687, following a 1.49% drop over the last 24 hours. The meme coin saw a 32% dip over the past month.
Also Read: Shiba Inu Has Delivered $1.5 Billion Returns on $46,000 Investment
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