Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Shibarium, the Ethereum-based Layer-2 scaling solution tied to the Shiba Inu ecosystem, has scaled past the 10,000 000 block milestone and looks set to attain another. Less than 30 days after setting the record of 10,000,000 blocks, Shibarium is set to add another half a million blocks.
Shibarium ecosystem expansion
According to data from Shibariumscan, the total block count currently stands at 10,306,430. This leaves it with just 193,570 blocks to reach 10.5 million.
At the current pace of one block per 5.0 seconds, the protocol will likely hit the next major milestone of 10,500,000 blocks before the end of April.
Arman ShirinyanThis increase in Shibarium’s block production signals the organic growth being recorded as adoption soars. Its five-second average block production time makes it one of the fastest and preferred Ethereum L2 scaling solutions.
The protocol has seen over 1 billion transactions carried out on it. Current figures stand at 1,017,874,167 transactions.
Meanwhile, daily transactions are averaging 4.17 million. This is a significant increase compared to March figures when the average hovered between 2 million and 3 million.
Analysts consider the growth figure remarkable and speak to the preference for Shibarium compared to other L2 protocols.
Impact on SHIB price and broader sentiment
Amid this significant achievement, Lucie, SHIB marketing lead, has assured the community that Shibarium’s golden age has arrived. She noted that Shibarium was experiencing a shift from "green to gold."
The marketing lead’s post suggests that real-world value was coming to Shibarium as the development team continued to build lasting value. So far, the ecosystem has seen the launch of TREAT and BONE, with more in the pipeline.
Yuri MolchanDrawing on the sustained growth, community members have applauded this continued effort at building the protocol.
Interestingly, Shibarium’s success impacts Shiba Inu’s value as the meme coin recently witnessed a 6% uptick when Shibarium flipped 1 billion transactions.
Vladislav Sopov
Dan Burgin