Shibarium: The Fastest Growing Layer-2 Protocol on Ethereum Blockchain
Explore the impressive growth and record-breaking milestones achieved by Shibarium, the Layer-2 scaling protocol within the Shiba Inu ecosystem. Learn how its speed, lower cost, and increasing adoption are shaping the future of the Ethereum blockchain.
Posted 10 months ago in Layer 2
Shibarium, the iconic Layer-2 scaling protocol native to the Shiba Inu ecosystem, has impressed many observers since its rebirth a few weeks ago. With data from Shibariumscan showing steady block production and protocol growth, a whole new level of optimism is now brewing within the ecosystem.
As reported earlier, Shibarium broke three major records in a single day featuring the push of its total transactions recorded beyond the three million benchmark. Additionally, Shibarium recorded as many as 41,500 new transactions daily, underscoring the growing usage of the decentralized applications (dApps) currently resident on the platform.
With the pace for growth already set, Shibarium is now targeting the 3,500,000 milestone in record time compared to how quickly it achieved the previous milestones. With an average block time pegged at five seconds, Shibarium is arguably one of the fastest Layer-2 protocols on the Ethereum blockchain.
The sheer advantage the protocol is showcasing through its speed and lower cost is a major selling point that can further attract new users beyond the SHIB army to come try out its services and, thus, contribute to its growth numbers.
With the Shibarium protocol just about three weeks old since its relaunch, enormous responsibilities and expectations are now being placed on it by proponents of Shiba Inu. It is expected that the growing adoption of Shibarium will place upside pressure on the price of SHIB, potentially leading to its growth in the mid- to long term.
The expectation of members of the Shiba Inu community is also that a burn portal will be created that can help send more SHIB tokens to dead wallets, reduce its supply, and bolster its growth. With the broad expectations, perhaps, SHIB might achieve its long-term goal of hitting $0.01.
Last updated 9/23/2023, 9:22:23 AM
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