Shibarium, the ethereum-based layer 2 blockchain solution of the shiba inu teamhas achieved another important milestone, showing growing strength within the platform.
Shiba Inu Shibarium's Latest Major Milestone
The Shiba Inu Layer 2 platform has recently passed a major milestone in terms of total transactions processed as a total proceedings have increased dramatically in recent weeks.
According Shibariumscan – Shibarium network tracker has surpassed more than 90 million transactions made on the platform since its introduction. Network tracker data shows that the number currently stands at approximately 90,677,816 at the time of writing.
Notably, since December 2, the Shiba Inu blockchain has continuously maintained a whopping average of 7.5 million daily transactions. Currently, the total number of daily transactions revealed by the network tracker amounts to 7.84 million transactions.
Network activity appears to be growing significantly, reaching important milestones in recent weeks. At the beginning of this month, the total number of transactions on Shibarium stood at 66 million, indicating an increase of more than 35% since this month.
Shibariumscan data also revealed an increase in the network's total blocks and wallet addresses. The total number of Shibarium blocks is approximately 2,077,814, while the total number of wallet addresses is 1,305,042.
This type of increase in transactions means that millions of BONE The tokens were spent on transaction fees. As a result of this, it sets the stage for the long-awaited Shiba Inu file burn.
However, despite the recent increase in transactions, the Shiba Inu burn rate remains low over the past 24 hours. According shibburnSHIB token burn rate dropped by 91% in the last 24 hours.
It's worth noting that Shiba Inu recently recorded its highest burn rate since the initiative was introduced. Last week, the project saw a staggering 7,686,774% increase in burn rate, destroying around 8.35 billion SHIB tokens.
Shibarium migrates to the Sepolia network
Last week, Shiba Inu Announced that Shibarium will adopt the Sepolia network. The team noted that Shibarium Puppynet will move from Goerli Network to Sepolia Network.
The goal of this adjustment is to be in line with more effective and scalable infrastructures, according to the team. Additionally, the transition will pave the way for more advanced solutions.
Furthermore, the move is not simply a transition, but rather an upgrade that will allow for a more efficient and user-friendly environment. This is due to the growing demands of the blockchain community, particularly in fields such as nft and DeFi.
Sepolia provides a more stable and controlled testing environment, accurately replicating the ethereum Mainnet features and functionalities. Because of this, developers are guaranteed access to a reliable and consistent platform to test their dApps and smart contracts. tThe team stated that this strategic change will take effect on December 15, 2023.
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