🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Here's How Shibarium Bridge Works When Sending ETH: Source

Published 08/29/2023, 10:00 AM
Updated 08/29/2023, 11:00 AM
Here's How Shibarium Bridge Works When Sending ETH: Source
ETH/USD
-

U.Today - The software engineer who goes by the name @CryptoLeadDev on (formerly known as Twitter) has conducted an experiment to see how the Shibarium Bridge works (and whether, indeed, it works) and transferred a bit of ETH to Shibarium.

The experiment was successful, and he shared the details of the operation with his followers.

Testing Shibarium Bridge to send ETH

@CryptoLeadDev wrote that he decided to test the Shibarium Bridge to spare his followers having to test it themselves. First he put in 0.01 ETH to be transferred to Shibarium. The initial estimated fee for that operation was $1.95. However, when the Metamask wallet opened, it went higher, to $2.65.

After that, he initiated the ETH transaction. The funds then were marked "en route," meaning that now the Shibarium Bridge was responsible for moving them. Finally, the 0.01 ETH was sent to upgradeable proxy contracts. Finally, after eight minutes of waiting, the ETH arrived in @CryptoLeadDev’s wallet.

Finally, since WETH is a new token for Shibarium, he had to mark it as a "Custom token," to help it recognize Wrapped Ethereum, since on Shibarium and Ethereum WETH is a totally different smart contract.

Then, finally, the 0.01 WETH arrived in @CryptoLeadDev's wallet. "Shibarium bridge appears to be working. Woot woot! Horray!" he tweeted.

Shibarium mainnet reaches new milestones

As reported by U.Today earlier, certain important metrics on the Shibarium mainnet relaunched this week have . In particular, according to Shibariumscan, the total count of transactions has grown to 463,373, while on Monday there were only 350,000 transfers registered.

As for the number of connected wallets, this metric rose from 65,000 to 138,570 overnight.

This article was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.