In a new tweet, Shiba Inu celebrates the incredible growth of its layer 2 solution, Shibarium. The official SHIB X handle shared a chart showing the growth of Shibarium transactions, which has now reached 300 million.
In a new tweet, Shiba Inu celebrates the incredible growth of its layer 2 solution, Shibarium. The official SHIB X handle shared a chart showing the growth of Shibarium transactions, which has now reached 300 million.
“SHIBARMY is taking the Shibarium to new heights. This roller coaster really has only one direction: UP,” Shiba Inu captioned the graphic.
Shibarium was developed on Ethereum with the primary goal of reducing transaction fees for those participating in the Shiba ecosystem. Despite being one of the most secure blockchains out there, Ethereum faces some issues, including high gas fees.
Shibarium also has a SHIB combustion mechanism
Shibarium officially launched on the mainnet in August 2023, after months of development and testing by the Shiba Inu team and community, and has witnessed tremendous growth in total transactions since then.
Now, just five months after its launch, Shibarium has surpassed the 300 million mark in its total transactions.
According to the Shibariumscan explorer, the total transactions now amount to 304,302,131. Wallet addresses are now 1,343,792, while total blocks are 2,789,983.
There are expectations for Shibarium as it not only serves as a scaling solution for Shiba Inu but also as a platform for innovation and collaboration. Shibarium serves as a foundation for the development of decentralized applications (dApps), including Shib: The Metaverse, Shiba Eternity, and various other products, projects, platforms, and services within the broader Shiba Inu community.
Along these lines, Lucie, a member of the SHIB team, shares the expectations. “Shibarium is just a baby. There are many new and interesting projects brewing, not just one, but many that will surprise sooner or later,” Lucie wrote in a tweet.
Meanwhile, Shiba Inu’s burns continue to progress. Lucie shared the exciting news that the Shibdream NFT collection recently burned 100 million SHIB. In the last 24 hours, according to Shibburn, a total of 146,261,497 SHIB tokens were burned in five transactions.