In response to speculations about whether Ethereum could utilize $SHIB for gas fees, LucieSHIB, the marketing lead for Shiba Inu (SHIB), provided insights into the compatibility and feasibility of such a scenario.
Technical Barriers to SHIB as Gas Fees on Ethereum
The rumor was fueled amid talks of a major upgrade to the Shibarium network and new exchange listings.
Lucie explained that there are fundamental differences between Ethereum and Shiba Inu. The marketing lead highlighted Ethereum’s role as a digital platform for decentralized applications (smart contracts) and its native cryptocurrency, Ether, used as gas fees to power transactions on the network.
Although some speculated about the potential use of SHIB as a substitute for Ethereum in paying gas fees on Ethereum, Lucie outlined several challenges that impede this idea from being feasible.
Firstly, Ethereum’s network architecture is specifically tailored to interact with Ether as the designated gas fee token. Attempting to introduce an alternative token like SHIB could disrupt the network’s protocols and compromise transaction integrity for users.
Secondly, Ethereum’s consensus mechanism, Proof of Stake, strengthens its security and reliability. Integrating a different token for gas fees could undermine this mechanism, posing potential technical and security risks.
Can #Ethererum use $SHIB ???
Ethereum is a digital platform that allows people to create and use decentralized applications, also known as smart contracts. These smart contracts require a certain amount of Ethereum, which is the native crypto of the Ethereum network, to perform… pic.twitter.com/w57lKq2Mql
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) April 30, 2024
Additionally, from a practical standpoint, integrating SHIB or any alternative token into Ethereum would necessitate significant modifications to existing infrastructure, potentially causing confusion and complexity for users.
Shibarium Upgrade and Community Outlook
Lucie maintained that while the idea of using SHIB for gas fees on Ethereum might seem appealing, it is not feasible or practical due to technical, security, and compatibility constraints.
Meanwhile, members of the Shiba Inu ecosystem are anticipating an upgrade to the Shibarium network by May 2. The hard fork is set to unveil features such as faster block processing times and predictable transaction fees that will enhance user experience and network performance.
The SHIB community is bullish ahead of the upgrade even as the platform’s growing accessibility elicits positive sentiment, particularly with the listing of Shiba Inu by Robinhood on its app for New Yorkers.
