Shibarium, Shiba Inu’s Layer 2 solution, has reached a major milestone by processing over 400 million transactions. This achievement comes in the midst of “meme season,” which saw the price of Shiba Inu skyrocket nearly 300% in a matter of days.
Shibarium, Shiba Inu’s Layer 2 solution, has reached a major milestone by processing over 400 million transactions. This achievement comes in the midst of “meme season,” which saw the price of Shiba Inu skyrocket nearly 300% in a matter of days.
In an exciting tweet, the official SHIB X user hinted that meme season might have arrived on Shibarium. “Meme season has arrived on Shibarium. Who will emerge as the best?” the post said.
Shibarium has rapidly gained momentum since its launch in late August 2023, surpassing 3.5 million in total blocks and a whopping 400 million in total transactions.
According to Shibarium Scan Explorer, Shibarium’s total transactions are 400,605,668. The total blocks have reached 3,546,814 and the wallet addresses are at 1,368,583.
In the last 24 hours, Shibarium saw a slight uptick in daily transactions, which amounted to 1.81 million.
Shiba Inu remains firm in protecting the Shibarium
As the cryptocurrency industry grows with innovative developments, it also faces an increase in security vulnerabilities, which pose significant financial risks.
Hacken, a blockchain security services company, presents this year’s security challenges, including attacks on layer 2 solutions, access control breaches, and rug pulling.
As the cryptocurrency market prepares for a potential bull run, the emergence of new protocols and liquidity may increase security risks. According to the most recent edition of shib magazinethe Shibarium of the Shiba ecosystem is well prepared to meet these challenges.
In response to growing security concerns in the cryptocurrency landscape, Shiba Inu developer Kaal Dhairya outlined some actions the Shiba Inu team has implemented to strengthen its defenses and protect its users.
Shiba Inu would incorporate fully homomorphic encryption (FHE) into its framework, thus offering greater data privacy and security. Additionally, an approach that includes sovereign identity (SSI) gives users complete control over their data.
