The Shiba Inu cryptocurrencies’ ecosystem is expected to experience substantial improvements with the upcoming Ethereum’s “Pectra” upgrade. Lucie (@LucieSHIB), the marketing lead for Shiba Inu, recently shed light on how this major revamp of the Ethereum network, scheduled for April 2025, could impact Shibarium, Shiba Inu’s layer-2 (L2) solution. Comprising two major improvements – the Prague (execution layer) and Electra (consensus layer), the Pectra upgrade is aimed at amplifying Ethereum’s scalability, staking abilities, and user experience.
Potential Upscale for Shiba Inu Owing to Pectra
Lucie pointed out various advantages that Ethereum’s evolution might bring to L2 platforms like Shibarium in her recent post. She emphasized that the upgrade “will make Layer 2 solutions faster, cheaper, and easier to use,” primarily due to ground-breaking features designed to slash friction and elevate accessibility. Furthermore, the gas fees during asset movements won’t require ETH, thereby lowering costs and reducing friction.
The Pectra upgrade also promises easier onboarding. It allows new users to start using Layer 2 networks without first procuring ETH, eliminating entry barriers. Ultimately, the Pectra upgrade could lead to increased adoption of Shiba Inu.
Lucie further stated, “Flexible gas payments and improved user experience mean more people will use L2s, spurring growth and efficiency. This upgrade makes Ethereum’s ecosystem more accessible and affordable, giving Layer 2 solutions a huge boost.”
Ethereum’s Pectra upgrade amalgamates several enhancements targeted at streamlining the blockchain’s central operations and fortifying its efficiency. This includes account abstraction (ERC-4337), which allows gas fees to be paid in any ERC-20 token rather than solely in ETH.
Shibarium Updates (@Shibizens) suggested this could pave the way for using Shiba Inu ecosystem tokens—SHIB, BONE, or TREAT—for transaction fees on Ethereum. Nevertheless, actual adoption will depend on wallet and protocol support.
The Ethereum upgrade will also allow validators to stake up to 2,048 ETH, a substantial increase from the current 32 ETH requirement. Although this facilitates large-scale staking, it also raises concerns about centralization if a smaller number of validators amass an unequal amount of stake.
Ethereum’s Pectra aims to reduce computational costs and speed up execution times, resulting in cheaper transactions for users. This in turn enhances the affordability of L2 activities, benefiting Shibarium and other rollup-based solutions. Verkle Trees, a new data structure, optimizes on-chain information storage and validation, reducing node storage requirements and thus enabling smoother network operation.
PeerDAS (Peer Data Availability Sampling) is designed to bolster L2 rollups by reducing costs and increasing throughput. This could provide Shibarium’s L2 solution with a robust competitive edge by enhancing off-chain data handling and security.
Although there is potential for SHIB, BONE, or TREAT to become viable gas fee currencies and on top of several performance improvements for Shibarium, experts caution that broad adoption of these functions will depend on the active involvement and support of wallet providers, decentralized applications (dApps), and other Ethereum infrastructure. “[It] relies on adoption by wallets and protocols,” says @Shibizens.
As of the last update, SHIB traded at $0.00001329. This content is for informational purposes only and should not be considered investment advice or an endorsement of any particular cryptocurrency.
Frequently Asked Questions (FAQs)
What is the Pectra upgrade?
The Pectra upgrade, scheduled for release in April 2025, is a major revamp of the Ethereum network. It merges two planned improvements—Prague (execution layer) and Electra (consensus layer) into a single overhaul designed to enhance scalability, staking, and user experience on the Ethereum network.
How will the Pectra upgrade affect Shiba Inu’s ecosystem?
The Pectra upgrade could bring about several benefits to Layer 2 platforms like Shibarium, part of the Shiba Inu ecosystem. This includes faster and cheaper operations, improved accessibility, and possibly higher adoption rates of Shiba Inu due to easier onboarding and flexible gas payments.
What new features does the Pectra upgrade offer?
The Pectra upgrade offers multiple enhancements designed to streamline Ethereum’s operations and bolster its efficiency. This includes account abstraction, staking improvements, reductions in computational costs, and enhancements in the Ethereum Virtual Machine (EVM), among others.
What is the potential impact of the Pectra upgrade on the SHIB token?
The Pectra upgrade could possibly open the door for using Shiba Inu ecosystem tokens like SHIB for transaction fees on Ethereum, facilitating easier onboarding and higher adoption. However, actual adoption will depend on wallet and protocol support.
