Shibarium Sees Widespread Adoption, Nearly 500K Wallets

The developers behind Shiba Inu have been working to build new utilities and Features for the project. One of their major technical initiatives has been the development of Shibarium, which is planned as a layer-2 scaling solution for the Shiba Inu network.

Layer-2 solutions like Shibarium aim to improve transaction speeds and reduce fees by handling transactions off the main blockchain. The stated goal is that Shibarium will provide these benefits for the Shiba Inu network once it is launched.

Also read: Grayscale Now Closer To a Spot Bitcoin ETF Launch: Report

The release of Shibarium represents a significant milestone for the Shiba Inu developers as they continue to expand the technological capabilities of the project. According to the latest data, the network has hit a major milestone.

Source: Shibariumscan

Shibarium inches towards a major milestone

The recently launched layer-2 network Shibarium has seen rapid growth in adoption, garnering close to 500,000 wallets at press time.

The much-anticipated scaling solution for Shiba Inu has quickly regained attention thanks to its substantial user activity increase. According to data from blockchain explorers, the Shibarium network has shown remarkable growth, now hosting over 447,138 wallets.

Beyond its wallet growth, Shibarium has also posted staggering transaction figures. The network has handled over 628,000 transactions, highlighting its heavy use since its launch.

Additionally, the node validators responsible for processing the network’s blocks have already validated over 387,000 blocks at an average speed of 5.0 seconds per block.

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