Shiba Inu: Shibarium blasts past 2.2M transactions with more than 70 tokens – Ecosystem is exploding

  • Within three weeks of launch, PuppyNet has processed a total of 2,255,398 (2.23M) transactions in 324,129 blocks with 5.0 seconds of block time.
  • A number of projects have shown interest in integrating the Shibarium protocol with their platforms upon launch.

A few weeks ago, Shiba Inu released PuppyNet, a beta version of the Layer 2 scalability platform Shibarium. PuppyNet has received a strong response as transactions on the network have skyrocketed in the early days.

In just three weeks of launch, the Shibarium testnet has more than 350K wallet addresses and has processed over 2 million transactions. As per the data from Puppyscan, the total number of registered addresses on PuppyNet currently is 365,282. this marks a staggering 77% increase from the number of addresses as of March 31st.

Furthermore, the data also shows that the Layer 2 network has processed a total of 2,255,398 (2.23M) transactions in 324,129 blocks wherein the average block time is around 5 seconds. Earlier this month on April 10th, PuppyNet registered its highest transaction count to date by processing 481,151 transactions in a single day.

One of the top Shiba Inu influencers Lucie stated that Shibarium testnet PuppyNet has already deployed 71 tokens built on Shibarium.

Furthermore, the network’s success has been talked about across social media platforms wherein the Shibarium Discord server saw over 100,000 messages sent ever since the launch. Within just two weeks, the Shibarium Discord server boasts nearly 7,000 members.

Ton of Projects Excited to Join Shibarium

The launch of the shibarium mainnet has been delayed for a while from its previous schedule. However, this hasn’t deterred new projects from showing interest in the platform.

Earlier this month, billion-dollar-platform Koyo announced its launch on Shibarium and stated that it “expects billions of dollars in volume, expect millions of dollars in rewards and in turn expect $SHIB burns to be in the millions with continuous burns.”

But Koyo is not the only platform to announce Shibarium integration. Recently, Enkrypt, a popular web3 wallet created by MyEtherWallet, announced its intentions to integrate the Shibarium protocol to its platform. With this, enkrypt joins other industry players willing to join the Layer 2 Shibarium network such as Excodus, Atomic Wallet, and CoinRabbit. The Unification Foundation upcoming tool UNODE looks to cater to decentralized applications (dApps) in the Shiba Inu ecosystem.

On the other hand, Shiba Inu’s native cryptocurrency (SHIB) continues to attract more players in the market. In fact, many are also comfortable with having SHIB as a payment option at their end. Recently, renowned glass sculptor Jack Storms announced that SHIB will be available as a payment option for exquisite glass sculptures once that the collection comes to Shibarium.

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About Author

Bhushan is a FinTech enthusiast and holds a good flair for understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his free time, he reads thriller fictions novels and sometimes explores his culinary skills.

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