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INTERNATIONAL BUSINESS TIMES NEWSLETTER SIGNUP My account Log Out Dec 27, 12:21 PM EST World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion NEWSLETTER My account Log Out US Edition World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion Listings & More Spotlight Glossary SMB Forum Glossary K-Wave CEO Spotlight Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States NEWSLETTER Follow Us Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States Crypto Crypto Business Shibarium Records Over 200M Processed Transactions; SRC-20 Tokens On The Network Now Support SHIB Burns By Nica Osorio @nicaIBTimes 12/27/23 AT 12:20 PM EST Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Share on Flipboard Share on Pocket The mere fact that a project claims to be on #Shibarium or incorporates "Shibarium" in its name doesn't guarantee legitimacy. LucieSHIB/Twitter KEY POINTS Shibarium is the fastest-growing layer 2 protocol attaining over a million unique wallet addresses seven days after its launch Shibarium processed more than 100 million transactions on Dec. 14 Shiba Inu's L2-solution processed over 200 million transactions Wednesday Shibarium, the layer-2 scalability solution of the Shiba ecosystem that keeps breaking records and making history since it was launched in August, has achieved yet another significant milestone by recording over 200 million processed transactions, cementing its position as a leader in layer-2 scalability solutions. Shibarium has accomplished a remarkable milestone in just seven days after its launch by attaining over a million unique wallet addresses. This achievement has positioned Shibarium as the fastest-growing layer 2 protocol, surpassing its competitors, including Base, zkSync, Optimism and Arbitrum. It is noteworthy that the latter took 11, 71, 191 and 303 days, respectively, to achieve the same number of unique wallet addresses. Shibarium's rapid growth in such a short period is a testament to its innovative approach and its ability to meet the needs of its users. Based on CoinGecko's study titled "Fastest Growing Layer 2 Blockchains" pic.twitter.com/i5Tsi9yu4K — techcentrik™ (@nicaIBTimes) September 5, 2023 But, it does not seem to stop there. Just four months after its initial launch, Shibarium has processed over 200 million transactions, highlighting the L2 blockchain's ability to handle large volumes of transactions efficiently. As of 11:29 a.m. ET on Wednesday, data from Shibarium.io showed that the L2 blockchain has processed a total of 202,277,468 transactions with the number of wallet addresses surging to 1,320,626 and daily transactions averaging 7.73 million. So far, Shibarium has processed 2,336,034 blocks with 5.0 seconds average block time. Shibarium's success is a testament to the promise of layer-2 scalability solutions and their potential to revolutionize the blockchain industry white this latest milestone demonstrates its ability to meet the demands of the market and provide a reliable and efficient solution for the growing blockchain industry. "We are currently entering a new phase for Shibarium. In the initial months, we experienced gradual growth, paving the way for new projects to join Shibarium. Multiple exchanges are in talks about integration, and although it takes time, we are highly confident that 2024 will be a significant year for Shibarium," Shiba ecosystem and Shibarium Tech marketing specialist who uses the handle @LucieSHIB told International Business Times when asked for her comment on Shibarium's latest milestone. Furthermore, it is noteworthy that the SRC-20, currently available on Shibarium, has extended support to Shib burns, underlining that Shibarium now has the burn capability complete with a null address that members can use to destroy SHIB. src-20 now supports burning. Transfer to the burning address: 0x000000000000000000000000000000000000dEaD — WOOF | src-20 on Shibarium (@woofswap) December 26, 2023 This development is interesting in that it results in the reduction of the supply of SHIB tokens, an activity which many anticipate to have a positive impact on the number of SHIB tokens in circulation. Shibarium's latest feat is impressive considering that it surpassed the 100 million processed transaction mark on Dec. 14. Read more Shiba Inu Burns Surge By 5000% While Trillions Of Tokens Leave Exchanges Shibarium Nears 200M Total Transactions; Analyst Reveals How Shiba Inu's L2 Can Send SHIB Price Surging Shiba Ecosystem Shakes Off FUD, Crypto Winter; Destroys Billions Of SHIB In Elaborate Burning Streak © Copyright IBTimes 2023. All rights reserved. Join the Discussion MOST READ IN Crypto 1 Shibarium Nears 200M Total Transactions; Analyst Reveals How Shiba Inu's L2 Can Send SHIB Price Surging 2 Solana Flips Bitcoin, Ethereum In Weekend Trading Volume, As Price Rally Continues 3 Barry Silbert Steps Down As Grayscale Investments' Chairman Of The Board 4 Tether Mints 'Authorized But Not Issued' $1B USDT To Replenish Inventory 5 Shytoshi Kusama Teases Shib Army, Spills Plan For Doge-Killer LEASH NEWS World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Opinion Featured Social Capital Glossary SMB Forum Spotlight Crypto K-Wave CEO Spotlight ABOUT About Us Contact us Advertise with us Terms & Conditions Privacy Policy Cookie Policy Editions United States Australia Brazil Colombia France Germany Indonesia India International Italy Editions Japan Nigeria Singapore South Africa South Korea Spain Mexico United Kingdom FOLLOW US Facebook Twitter LinkedIn Newsletter © Copyright 2023 IBTimes LLC. All Rights Reserved.
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