Shiba Inu's lead developer, Shytoshi Kusama, highlighted an upcoming milestone of 1 million transactions on the Shibarium Layer 2 (L2) network in a recent blog post penned by developer Kaal Dhairya.
Dhairya congratulated the ShibArmy community for achieving over 1 million wallets, describing Shibarium as one of the "fastest and cheapest" L2 networks available.
Shibarium aims to scale the original Ethereum-based Shiba Inu project, facilitating faster and more cost-effective transactions. The update also emphasized low gas prices on the network, a development that seemed to delight Kusama, despite some community concerns that extremely low fees could deter miners.
The update highlighted the availability of a hosted version of the Blockscout explorer on Shibariumscan, allowing users to perform their own research and verify contracts. Blockscout will manage the explorer while the protocol team concentrates on Shibarium's development.
This collaboration ensures that the chain remains 100% indexed, simplifying project auditing and fostering trust within the ecosystem. In the near future, Shibarium plans to spotlight projects developed on its platform, provided that their contracts are properly verified.
Dhairya also detailed new tokens that have been mapped to Shibarium's bridge, including stablecoins USDT, USDC, and DAI, as well as other assets like Wrapped Bitcoin (WBTC) and XFUND.
The availability of these tokens on the Shibarium network is part of a broader strategy to increase the platform's utility and attract a more extensive range of developers and users. Collaborations with third-party bridges are also in the pipeline to facilitate the transfer of other tokens into Shibarium.
Shibarium's near-term achievements and milestones are already being celebrated within the community, but the long-term focus appears to be on encouraging community-led innovation. Kusama emphasized that the Shib team's future efforts will revolve around building technologies atop Shibarium, ultimately aiming for the network to host the "next big innovation."