In a significant development for the cryptocurrency industry, Shiba Inu’s Layer-2 blockchain, Shibarium, has achieved a groundbreaking milestone by surpassing 100 million transactions. This impressive feat was reached following a notable surge in network activity, culminating in a daily transaction count of 7.36 million. The total transaction count now stands at 103.31 million, highlighting Shibarium’s rapid growth and adoption of the digital currency.
Shiba Inu’s official communication channels have acknowledged this achievement, referring to it as a “moonstone” rather than just a milestone, underscoring the monumental nature of this achievement. The Shiba Inu community has been integral in this journey, contributing significantly to Shibarium’s success. This sentiment was echoed in shared screenshots of conversations with Shytoshi Kusama, Shiba Inu’s lead developer, on the AI chatbot ChatGPT, showcasing the community’s celebrations at various stages of Shiba Inu’s growth.
Shibarium’s remarkable recovery in the crypto market
Shibarium’s journey to this point has not been without its challenges. After its mainnet launch in August, the network experienced initial technical difficulties and a sluggish start in transaction volumes. Initially, the daily transactions were around 15,000. However, this figure has dramatically increased, with the network now processing an average of over 7 million transactions daily since December 2. The exception was on December 9, when transactions dipped slightly to 6.8 million but rebounded the following day.
This turnaround in fortunes for Shibarium indicates the evolving and dynamic nature of blockchain technology and the cryptocurrency market. It also reflects the increasing acceptance and utilisation of Shibarium by users and developers alike.
Shibarium ecosystem thrives with over 2M blocks
The impact of Shibarium’s growth extends beyond just transaction numbers. The number of addresses interacting with the blockchain has soared to 1.3 million, and the total blocks minted have crossed the 2 million mark, standing at 2,106,883. Furthermore, the platform has become a hub for digital innovation, with 8,640 digital assets launched on its mainnet. The total account count on Shibarium is now at 56,621, indicating a healthy and growing ecosystem.
Despite these achievements, Shiba Inu’s official channels have cautioned the community to remain vigilant against scams, reinforcing the importance of security in the digital currency space.
Shibarium’s surpassing 100 million transactions marks a significant milestone in the blockchain and cryptocurrency industry. It demonstrates the growing acceptance and utility of Shibarium and highlights the potential for Layer-2 solutions in enhancing the scalability and efficiency of blockchain networks.
As Shibarium continues to evolve and expand, it stands as a testament to the innovative spirit and resilience of the cryptocurrency community. This milestone is not just a numerical achievement but a signifier of blockchain technology’s growing relevance and impact in the digital world.
Source: https://www.cryptopolitan.com/shibarium-achieves-historic-100m-transaction/