Shiba Inu’s Shibarium Sets the Pace with 952 Transactions in 5 Seconds

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  • Shibarium, the Layer 2 blockchain of the Shiba Inu ecosystem, recorded a staggering 952 transactions in a five-second block, indicating a surge in user activity.
  • The network recently surpassed 6 million total transactions, with daily transactions reaching 748,230, highlighting its growing adoption.

Shibarium: A New Benchmark in Blockchain Transactions

Shibarium, the Layer 2 blockchain in the Shiba Inu ecosystem, has set a new benchmark in blockchain performance. According to a recent social media post by IntroduceTheBugs, the network impressively processed 952 transactions in a single block that lasted just five seconds.

#Shibarium is seeing some serious traffic right now. 952 transactions in a single 5 second block here. #SHIBA #shibarmy #bone #leash #shiboshi@_Mazrael_@LucieSHIB@phertoshi@Mr_Lightspeed@SpecialShib@Digarch@AdRock_0x_2nd@RealCryptoAngel pic.twitter.com/TWDVvJvg37

— IntroduceTheBugs (@IntroduceZeBugs) November 30, 2023

Surge in Transactions: A Testament to Growing Popularity

This significant volume of transactions was recorded at block height 1875694 and marks a vital milestone for Shibarium. The network’s robust transaction count reflects its increasing popularity and adoption among users. This rapid transaction processing is a key indicator of the network’s scalability and efficiency, vital traits in the fast-evolving blockchain landscape.

Milestone Achievements in Shibarium’s Journey

The Shibarium network recently achieved another milestone by surpassing 6 million total transactions. According to Shibariumscan, the network’s explorer, the total transaction count currently stands at approximately 6.33 million. This achievement comes shortly after the network hit the 4 million transaction mark, indicating a rapid increase in activity and user engagement. In a short span, Shibarium added around 2.3 million transactions, highlighting its growing momentum.

Daily Transaction Volume Skyrockets

Shibarium’s daily transaction volume also witnessed a massive spike, with the network recording 748,230 transactions in a single day. This surge significantly eclipses the 16,630 transactions recorded the previous day, showcasing the network’s capacity to handle high volumes of activity efficiently.

Expanding Network Statistics

In addition to its impressive transaction count, Shibarium boasts over 1.27 million addresses and has mined over 1.88 million blocks. The network hosts 30,369 accounts and has processed 301,237 BONE transfers, illustrating its expansive reach within the blockchain space. Since its inception in August, Shibarium has seen the deployment of 14,299 smart contracts and supports more than 8,500 tokens.

Evaluating Shibarium’s Total Value Locked (TVL)

Despite these achievements, Shibarium’s Total Value Locked (TVL) remains just below $700K. After peaking above $700K, the TVL slightly dipped to $681,800, currently settling at around $693,075, according to DeFiLlama data. This TVL movement reflects the dynamic nature of blockchain ecosystems and the fluctuating interest of participants.

In conclusion, Shibarium’s recent achievements in transaction processing and overall network growth underscore its potential as a key player in the blockchain arena. The network’s ability to handle a high volume of transactions efficiently is a promising sign for its future development and adoption.

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