Ethereum Pectra Upgrade to Enhance Shibarium: Will SHIB, BONE, or TREAT Be Used for Gas?

• Ethereum Pectra introduces affordable bridging, eliminating the need for ETH in gas fees, which could influence Shibarium’s gas token economy and overall accessibility.
• With Pectra enabling dynamic gas payments, Shibarium may explore expanding gas token options beyond BONE to include SHIB or TREAT.

The long-awaited Pectra upgrade of Ethereum network has in store some meaningful enhancements, especially for Layer 2 scaling options such as Shibarium. As the upgrade focuses on cutting costs and enhancing efficiency, the update has also fueled debate regarding whether Shibarium will continue to use SHIB, BONE, or TREAT for gas charges, or if the upgrade will change dynamics.

Impact Of Ethereum’s Pectra On Shibarium Layer 2 Scaling

Ethereum’s soon-to-be-released upgrade brings with it a number of improvements that will streamline Layer 2 solutions, rendering them more efficient and accessible. Shiba Inu’s marketing lead, Lucie, highlighted this feature in a recent X post, saying,

Ethereum’s Pectra upgrade will make Layer 2 solutions faster, cheaper, and easier to use.

One of the most significant shifts Pectra introduces is more affordable bridging, as users will no longer need ETH to pay for gas fees when bridging assets, as mentioned in our previous article. This cost savings may make Shibarium more usable, potentially affecting its gas token economy. Onboarding new users will also be easier, as people won’t have to buy ETH prior to engaging with Layer 2 networks.

As Ethereum’s network becomes increasingly cost-effective and accessible, the upgrade might boost the usage of Layer 2 networks. Lucie pointed out:

Flexible gas payments and better user experience mean more people will use L2s, driving growth and efficiency.

Delays Hit Pectra’s Testnet Launch

In spite of its promising qualities, the Pectra update was marred by challenges during its initial release. The activation of the Holesky testnet, planned for February 24, experienced problems that stopped nodes from finalizing transactions. This was blamed on a configuration error that hit major Ethereum execution clients such as Geth, Nethermind, ETHjs, and Besu.

Georgios Konstantopoulos, Paradigm’s CTO, described how the delay resulted from a glitch in the deposit contract address, an essential part of Ethereum’s transactional system. As much as developers are busy working on patches, however, the schedule for the mainnet launch is still in question.

The inability to complete blocks on the Holesky testnet has created fear about the larger implications for Ethereum’s network. Nevertheless, the development team is hopeful that tweaks to execution clients will solve the problem.

Possible Gas Fee Changes On Shibarium

As noted earlier, Shibarium currently utilizes BONE as its primary gas fee token, ensuring smooth transactions within its ecosystem. However, with Ether’s changes allowing more flexibility in gas payments, speculation has arisen regarding whether Shibarium could expand its gas token options to include SHIB or TREAT.

The Pectra upgrade’s addition of dynamic gas payments allows Layer 2 networks such as Shibarium to potentially support multiple tokens for transaction fees, enhancing user convenience. If developers at Shibarium choose to add this feature, it may usher in a paradigm shift in how transactions are settled within the network.

For the time being, the Ethereum community is eagerly waiting for the resolution of Pectra’s testnet issue. In the meantime, Shiba Inu’s ecosystem could reap long-term rewards from these developments with the potential to minimize costs and increase the adoption of Layer 2 solutions.