Asides from Bitcoin, Shiba Inu is the highest viewed coin in the South American region as indicated by CoinMarketCap data.
Here are the top 10 most viewed #crypto coins for the continent of #SouthAmerica!! ?? ? pic.twitter.com/Udi57tcDwa
— CoinMarketCap (@CoinMarketCap) January 14, 2022
Shiba Inu’s impressive rise in 2021 didn’t fail to catch investors’ attention. A big strength also remains its loyal community – the Shib Army. This community drove the enormous gain in 2021, pushing SHIB into the top cryptocurrencies by market valuation.
At the time of publication, SHIB trades at $0.000031 and ranks 14th largest cryptocurrency by market capitalization. Shiba Inu has made an entrant into another country, this time Iraq. Iraq-based Esporta’s premier fitness center announced accepting Shiba Inu as a payment method on its official Facebook page.
Shiba Inu continues to see exchange listings because of its popularity. Binance, Coinbase, Kraken, Indian Giottus and Koinbazzar, Brazilian Mercado Bitcoin, Mexican Bitso have listed SHIB.
Also, payment processors, Flexa and Bitpay added Shiba Inu and made it possible for thousands of businesses across the globe to accept SHIB as a payment method. Furthermore, pressure is increasing on Robinhood, the top American exchange to list SHIB.
Tim Harrison, IOHK Communications Director, recently notified the Cardano community of a mid-month update concerning Scaling plans for 2022. Cardano is entering the Basho Stage in 2022, hence the need for greater scalability.
As stated in a recent IOHK blog post,
”Now, as we enter the Basho stage, we’re investing further energy into optimization and scaling. Building on these foundations, and steadily increasing capacity and throughput to deal with the growth in the DApp ecosystem and onboard first hundreds of thousands, then millions of new users”.
To achieve greater scalability in 2022, the path Cardano intends to take includes block size increase, Pipelining, Input Endorsers, Improvements in Memory /CPU parameters for Plutus, Node enhancements, on-disk storage, sidechains, Layer 2 Hydra scaling solution, Offloading computation, and the Mithril solution.
Recently, block size was increased by 8KB to 72KB (a 12.5% increase) on the Cardano blockchain. It says that further increases will be applied over time based on ongoing system monitoring and overall network health. Also, improvement of block propagation times and throughput via Input endorsers allows for higher transaction rates.
EVM sidechains scheduled to arrive on the Cardano blockchain include dcSpark’s Milkomeda and IOG’s Mamba. As regards memory/CPU parameters, IOHK states that specifically, there are memory improvements in Unspent Transaction Output (UTXO) handling, stake distribution, live stake distribution and pools, and hash representation.
Mithril will improve chain synchronization while maintaining trust. Hydra, a major Layer 2 solution that aims to further increase Cardano’s scalability by stacking a new protocol on top of the existing Layer 1 blockchain, is one of the improvements brought on by the Alonzo hard fork.
Ethereum co-founder, Vitalik Buterin recently launched a Twitter poll to determine which cryptocurrency the Ethereum community sees as the most viable alternative. The poll, which attracted more than 600,000 votes, has Cardano ADA in the lead with a 39% share of the vote, Bitcoin comes in second place, followed by Solana.
Image Credit: CoinMarketCap, Twitter, Shutterstock
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