Shibarium Celebrates its Anniversary
Shibarium, a layer-2 blockchain solution built on the Ethereum network, was created to support the Shiba Inu ecosystem by reducing transaction costs, improving speed, and scalability.
Since its launch a year ago, Shibarium has achieved significant milestones, with over 418 million transactions processed and reaching 400 million transactions in March 2024. However, the number of daily transactions has decreased in recent months, dropping to around 20,000 after previously being in the millions.
- The total number of blocks processed on the network is close to 6.5 million.
- The number of wallet addresses on Shibarium is approaching 2 million.
The Achievements of Shibarium
Since its inception, Shibarium has accomplished several key goals:
- The successful execution of three hard forks – Delhi, Indore, and Shanghai – aimed at enhancing user experience, improving transaction speed, and optimizing network efficiency.
- The introduction of two tokens within the ecosystem – K9 Finance DAO (KNINE) and Bad Token (BAD) – with a new token named HOCHI recently launched to provide more flexibility.
The Latest Developments
Shibarium has implemented several upgrades in recent months to enhance its performance and user experience:
- In April, a new user interface (UI) update was introduced to improve compatibility with popular self-custody wallets like MetaMask, Trust Wallet, and Coinbase Wallet.
- A hard fork was conducted to decrease block processing times and empower developers and innovators within the community.
- A “Burn Portal” was launched to reduce the circulating supply of Shiba Inu (SHIB) by sending tokens to a null address, making them scarcer.
- The burning process in Shibarium is different from the original one used by the Shiba Inu team, with BONE tokens playing a crucial role as the governance token for paying gas fees.
Stay Updated with Shibarium
For the latest news and updates on the Shibarium ecosystem, be sure to check for regular announcements and developments to stay informed about the platform’s progress and new features.
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