Shibarium, Shiba Inu’s L2 Blockchain, Nears 300 Million Transactions

Shibarium, Shiba Inu's L2 Blockchain, Nears 300 Million Transactions

Despite a decline in daily transaction count, Shibarium, Shiba Inu’s Layer-2 scaling solution, is on the verge of achieving a significant milestone.

Shibarium, the Layer-2 scaling solution for the popular cryptocurrency Shiba Inu, is rapidly approaching a groundbreaking transaction milestone. Despite a recent decrease in daily transaction count, the network is less than 4 million transactions away from reaching the impressive 300 million mark. This achievement comes just five months after Shibarium’s mainnet launch, showcasing the platform’s remarkable growth and adoption.

Shibarium Approaches 300 Million Transactions:

According to data from Shibariumscan, the total number of transactions processed on the L2 blockchain is fast approaching 300 million. At the time of writing, the transaction count stands at 296.5 million, with a daily transaction count of 1.96 million. This milestone follows the recent accomplishment of reaching 200 million transactions, which was celebrated by lead developer Shytoshi Kusama as a significant achievement.

Sibarium Daily Transaction Count Decreases:

While Shibarium experienced a surge in daily transaction count in December, averaging around 7.5 million transactions, the numbers have since decreased. The daily transaction count has fluctuated between 1 and 3 million in recent weeks. Despite this decline, Shibarium remains on track to reach the 300 million milestone, with less than 4 million transactions remaining.

Impressive Performance in 5 Months:

Shibarium’s journey to nearly 300 million transactions is even more remarkable considering the platform’s relatively short existence. The mainnet launch took place on August 16, 2023, but encountered a technical glitch shortly after, resulting in a developer-only mode for nearly two weeks. However, once the network resumed full operations on August 28, it quickly gained momentum and achieved impressive statistics in just five months.

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Other Impressive Shibarium Stats:

In addition to its transaction count, Shibarium boasts other noteworthy statistics. The number of wallet addresses that have interacted with the network currently stands at 1.34 million. Furthermore, the network has minted 2.73 million blocks, with an average block time of 5.0 seconds. These figures highlight the platform’s growing popularity and utilization.

Conclusion:

Shibarium, Shiba Inu’s Layer-2 scaling solution, is on the verge of reaching a significant milestone of 300 million transactions. Despite a decline in daily transaction count, the platform’s impressive growth and adoption over the past five months have propelled it towards this achievement. With less than 4 million transactions remaining, Shibarium continues to demonstrate its potential as a scalable and efficient blockchain solution. As the cryptocurrency market evolves, Shibarium’s success serves as a testament to the ongoing innovation and development within the industry.