The layer-2 scaling solution of Shiba Inu, known as Shibarium, has been experiencing significant growth and achieving new milestones. Recently, the network saw a 530% increase in newly verified contracts.
According to Shibariumscan data, the total number of newly verified contracts skyrocketed by approximately 533% in just 24 hours. On September 17, there were only 3 contracts, but that number rose to 19 the following day. Verified contracts on the network have also grown, reaching 416 compared to the initial 55 at the start of September.
Shibarium, which went live at the end of August, has been met with great enthusiasm from the crypto community. The number of wallets on the network has surpassed 1 million, currently standing at 1,247,000 million. Total transactions on Shibarium are approaching the 3 million milestone, currently standing at 2.84 million.
The main purpose of Shibarium is to establish a robust ecosystem for Shiba Inu on the Ethereum blockchain. It aims to elevate the memecoin above its rivals by providing a dedicated network for transactions and application development.
For those who wish to learn more about Shibarium and its specifics, there is a video by CryptoPotato available here.
Note: This article has been rewritten based on the original content found on CryptoPotato.com.
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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