Shiba Inu shares the impressive progress of its new Layer-2 blockchain, Shibarium.
The SHIB X official published a message on X showing a graph of the growth of transactions on Shibarium. Amidst the strong growth, the blockchain recorded 300 million transactions on January 21. "SHIBARMY is driving Shibarium to new heights".
Loading...
The Shibarium blockchain was developed on top of Ethereum. The network uses SHIB tokens as a fee, and the developers are positioning Shiba Inu as a serious blockchain project.
It is designed to work in the Metaverse, for gaming applications, and as a simple and easy-to-use solution for DeFi applications. The main goal of launching Shibarium is to lower transaction fees for members of the Shiba ecosystem.
The Ethereum blockchain remains one of the most popular blockchains and is considered the most secure. However, it has certain drawbacks, the main one being high transaction fees.
As envisioned by the developers of Shibarium, the new L2 blockchain should solve this problem by significantly reducing the cost of transactions and increasing their speed.
Shibarium launched in August 2023, after months of testing and debugging. Since then, it has steadily gained speed and seen an increase in the total number of transactions. On the first day of its launch, the blockchain recorded 100,000 wallets on the platform. Also, Shibarium has a SHIB burning mechanism.
Five months after the official launch, Shibarium's total transaction volume has reached 300 million and continues to grow. The number of transactions has reached 304,302,131. The number of wallets has reached 1,343,792, and the total number of blocks is 2,789,983.
Shibarium has all the chances to become a very promising project. This blockchain not only serves to scale Shibarium, but it is also the best platform for innovation and collaboration.
Shibarium has become the foundation for developing and launching decentralized applications (dApps) within the Shiba Inu community: The Metaverse, Shiba Eternity, and other products.
A representative of the development team, Lucie, shares her impressions: "Shibarium is just a baby. We foresee a lot of cool new projects – not just one, but many – that will surprise us sooner or later."
The pace of Shiba Inu burning is picking up, with 100 million SHIBs recently burned. According to Shibburn, there have been five transactions in the last 24 hours that have burned 146,261,497 SHIB tokens.
The Shiba Inu token, SHIB, is currently worth $0.00000854.
Also read: Gemini reveals goals of its XRP-focused social campaign