Shibarium on Verge of Breaking Two Crucial Records

A recent tweet published by the Shibarium Updates account spread the word about the layer-2 solution Shibarium approaching two important milestones regarding the total number of transactions on the network and the total amount of wallets linked to Shibarium.

The same source affiliated with the SHIB team has also shared some details of the layer-3 solution, which is currently in development.

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Shibarium on verge of new ATHs

According to the tweet, Shibarium activity has been on the rise recently. The layer-2 solution has already recorded a new milestone of 10,062,603 blocks generated on it, with average time for forming each one being five seconds.

Now, Shibarium is on track to reach other important all-time highs – in total transaction count and wallet addresses. The former has, by now, reached 970,343,924, while the latter shows 183,161,552. Therefore, one billion transactions and 200,000,000 wallets connected to Shibarium are on the horizon.

However, the number of daily transactions on Shibarium has seen a stunning plummet this week, as it dropped from 2.38 million on March 19 to just 326,530 on March 21, according to Shibaruimscan.

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Shibarium L3 details unveiled

The same Shibarium Updates account has offered a sneak-peek into the layer-3 solution to be launched on top of Shibarium, which is currently in development.

The SHIB team is building the new network in collaboration with one of its partners – Zama. It will provide Fully Homomorphic Encryption (FHE) to protect user data, promising full privacy to users thanks to fast and and private rollups: “Your info will stay encrypted, even while it’s being used — pure privacy.”

Thanks to this, the tweet says, “Web3 will finally feel like real financial freedom.” The SHIB team plans to utilize its token, TREAT, on the layer-3 blockchain. At the start of 2024, mysterious SHIB lead Shytoshi Kusama emerged on X after a pause, during which he frequently changed his location tags on X to announce that he had raised $12 million from major sponsors to develop the layer-3 network on top of Shibarium.