Shiba Inu: Shibarium’s Latest Achievement
Shiba Inu’s Shibarium has achieved a significant milestone by surpassing one million blocks and three million transactions since its launch in late August 2023.
This accomplishment can be attributed to the Shiba Inu token burn movement, which encouraged investors to use Shibarium for token burns instead of centralized exchanges.
Growth in Blocks and Transactions
According to Shibariumscan, the number of blocks on Shibarium currently stands at 1,063,594, indicating a growing demand for scalable features.
In terms of transactions, the layer 2 blockchain has crossed the three million mark, with a total of 3,383,413 transactions. Additionally, there are 1,252,888 interacting wallet addresses on the network.
About Shibarium
Shiba Inu’s Shibarium is an Ethereum-based layer 2 blockchain designed to provide a more scalable and sustainable infrastructure for Shiba Inu transactions. It serves as a decentralized finance platform and an alternative to centralized crypto exchanges.
Next Steps For Shibarium
Shytoshi Kusama, the anonymous co-founder and lead developer of Shiba Inu, has revealed plans to add validators to the network for enhanced security. However, the complete plan has not been disclosed yet.
Implementing EIP-1559 Standard
Shibarium has implemented the EIP-1559 standard to ensure more predictable gas fees in a BONE-deflationary world. This feature is similar to those found in Polygon and Ethereum.
In addition, validators must connect 10,000 BONE to the Ethereum staking management contracts for Shibarium. Node operators who perform the role of validators are rewarded for keeping the network decentralized and secure.
Hot Take: Shibarium’s Milestone Reflects Growing Attraction
Shiba Inu’s Ethereum-based layer 2 blockchain solution, Shibarium, has reached an important milestone with over a million blocks and three million transactions. This achievement showcases the increasing demand for scalable features and the success of the Shiba Inu token burn movement. As Shibarium continues to grow, its strategy to add validators for network security will further enhance its offerings. With the implementation of the EIP-1559 standard and rewarding node operators, Shibarium aims to provide a more sustainable infrastructure for Shiba Inu transactions. Overall, this milestone signifies the attractiveness and potential of Shibarium as a decentralized finance platform.
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