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Shiba Inu's Shibarium Close to Setting Major Block Production Milestone: Details

Fri, 09/08/2023 - 14:01
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Godfrey Benjamin
Shibarium block count eyes new high despite broader competition
Shiba Inu's Shibarium Close to Setting Major Block Production Milestone: Details
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The block production of Shibarium has finally balanced since the second launch of the Ethereum-based Layer-2 scaling solution. Per data from Shibariumscan, the protocol has produced a total of 522,380 blocks, proof of broader network stability and growth. At the current pace, the protocol is bound to hit its next major milestone of 600,000 total blocks produced in the near term.

Shiba Inu's BONE Up 8% on Broad Ecosystem Hype, Details

The growth in Shibarium block production comes from natural or organic transactions being carried out on the protocol since its second reboot. As it is a smart contract hub, we can expect more decentralized applications (DApps) to make their way into the protocol which, when achieved, can help bootstrap the block production of the network.

Per data displayed on Shibariumscam, the average block time of the protocol is five seconds, making it one of the fastest Ethereum scaling solutions in a world dominated by the likes of Arbitrum (ARB), Polygon zkEVM and zkSync, to mention a few.

The Shibarium block production milestone is a testament to the intrigue that is engulfing the Shiba Inu ecosystem as the scaling tool can largely help in defining the growth momentum of all tokens associated with the meme coin ecosystem.

More milestones to watch

As Shibarium continues to serve the members of the SHIB army, some of the top milestones to watch include both the total number of active users and the total transactions recorded on the protocol. They are essential to gauging broader interest among users.

ShibaSwap 2.0 in Works, Shiba Inu (SHIB) Community Delighted

While there has been a limited number of new protocols launching on Shibarium at this time, the much anticipated ShibaSwap has been teased by the core team. Like the top competitors around, the Shibarium lead developer has confirmed that the protocol's burn portal is under construction as well as a number of other ingrained solutions across the board.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.