Image default

Shiba Inu’s (SHIB) Shibarium Sees Explosive Growth As Testnet Wallets Break 100,000 – The Daily Hodl

Shiba Inu’s (SHIB) highly anticipated new layer-2 project Shibarium is experiencing an early wave of adoption as new users experiment with its testnet.

Shibarium is the Shiba Inu ecosystem’s new layer-2 protocol built on top of Ethereum (ETH), similar to Polygon (MATIC).

According to blockchain explorer PuppyScan.Shib, Shibarium’s beta version has already completed over 193,000 transactions.


PuppyScan’s data also shows that there are already 99,867 wallet addresses using Shibarium, after starting at zero just days ago. Gas fees are currently at 1.51 Gwei, or essentially free.

New public documentation recently revealed that Shiba Inu developers plan on achieving “true decentralization” by creating a protocol that charges minimal transaction fees, if not zero.

According to lead developer Shytoshi Kusama, Shibarium will offer low transfer fees for every project built on Shibarium, and says the goal is to process transactions in seconds for less than pennies.

Says the document,

“The blockchain ensures secure and transparent creation and exchange of digital assets. In addition, it serves as a base for the development of decentralized applications (DApps), including Shib – The Metaverse (, Shiba Eternity, and various other products, projects, platforms, and services within the broader Shiba Inu community.”

According to blockchain analytics firm IntoTheBlock, nearly 70% of the total supply of SHIB is now in the hands of long-term holders as the community gears up for the mainnet launch of Shibarium.

At time of writing, SHIB is trading for $0.00001067, mostly sideways over the last week.

This article first appeared on DailyHODL

Here’s How To Stay Up To Date On Crypto With CryptosRUs!

Learn about Bitcoin, Ethereum, and so much more at the CryptosRus Academy.

For the best exchanges, check out our top exchange guide. 

Secure your crypto with Ledger and Trade your way to victory with help from LuxAlgo

Sign up for our bi-weekly newsletter for news and exclusive analysis.

Follow CRU News Desk on Twitter for our latest articles and Twitter exclusive threads.

Stay up to date with George on Tik Tok, Instagram, and his brand new clips channel.

Source link

Related posts

Will Tether’s latest strategy give a boost to BTC prices? This report suggests…

Marine Savard

IMX/USD May Cross Above $1.00 Resistance

Marine Savard

NEAR ecosystem’s TVL declines by 45%, thanks to this factor

Marine Savard

Binance Is All Set To Buy Crypto Exchange, FTX, After It Faced Liquidity Crisis

Marine Savard

Hubble Protocol, the Solana-Based DeFi Project, raises $5 million in a strategic round led by Multicoin Capital

Marine Savard

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More