Shiba Inu Shibarium Achieves Major Milestone
The Shiba Inu team’s Ethereum-based layer 2 blockchain solution, Shibarium, has reached a significant milestone by processing over 90 million transactions on its platform. This marks a substantial increase in total transactions in just a few weeks.
According to Shibariumscan, a network tracker, the current number of transactions stands at approximately 90,677,816. Notably, the platform has been maintaining an average of 7.5 million daily transactions since December 2, with the current daily transaction count at 7.84 million.
In addition to the surge in transactions, Shibariumscan data also shows an increase in the network’s total blocks and wallet addresses. The total number of blocks is approximately 2,077,814, while there are 1,305,042 wallet addresses.
This rise in transactions indicates that millions of BONE tokens have been spent on fees and sets the stage for the anticipated Shiba Inu token burn. However, despite the recent surge in transactions, the SHIB token burn rate is down by 91% in the past 24 hours.
Shibarium Moves to Sepolia Network
Last week, Shiba Inu announced that Shibarium will be migrating from the Goerli Network to the Sepolia Network. This move aims to align with more effective and scalable infrastructures and pave the way for advanced solutions.
The transition to Sepolia is not just a simple move but an upgrade that will provide a more efficient and user-friendly environment. This adjustment is driven by the growing demands of the blockchain community, particularly in NFTs and DeFi.
Sepolia offers a stable and controlled testing environment that replicates Ethereum mainnet features. This guarantees developers a reliable platform for testing their dApps and smart contracts. The transition to Sepolia will take place on December 15, 2023.
Hot Take: Shibarium Reaches New Heights with Increasing Transactions
Shibarium, the Ethereum-based layer 2 blockchain solution developed by the Shiba Inu team, has achieved an impressive milestone by processing over 90 million transactions on its platform. This surge in transactions demonstrates the growing strength and activity within the network.
In addition to the increased transaction volume, Shibariumscan data reveals a rise in total blocks and wallet addresses, indicating the expanding user base of the platform. This milestone sets the stage for the highly anticipated Shiba Inu token burn.
Furthermore, Shibarium has recently migrated to the Sepolia Network, a strategic move aimed at enhancing scalability and providing a more efficient environment for users. This transition will support the growing demands of the blockchain community and enable advanced solutions in areas such as NFTs and DeFi.
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