Shibarium, the unique layer 2 scaling solution for the Shiba Inu coin environment, has passed three million blocks, which is a big deal.
A new milestone has been accomplished by Shibarium, the layer 2 scaling solution that was designed for the Shiba Inu cryptocurrency. It has surpassed three million blocks.
Over 334 million transactions have been completed on the platform, which was developed to improve the effectiveness and scalability of transactions within the Shiba Inu ecosystem. Additionally, 1.35 million wallet addresses have been attracted to the network.
Shibarium has shown remarkable performance in terms of throughput and cost-effectiveness, with an average block time of about five seconds and gas prices that are essentially at zero.
In addition, the amount of transactions that take place each day has reached an astounding level of 2.46 million.
An in-depth examination of Shibarium statistics
A total of around 332.613 million transactions have been handled by the platform, with the average block time being somewhat longer than the previous average at 49.581 seconds respectively.
There has been a significant amount of development activity on Shibarium, as shown by the fact that the total number of contracts on the platform has reached 15,004.
The total number of accounts that are supported by the platform is 8,979, and the total number of tokens that are supported by the platform is 63,225.
Based on these numbers, it is clear that the platform is capable of supporting a wide variety of apps and tokens.
The performance of the Shiba Inu
According to statistics provided by CoinGecko, the price of Shiba Inu (SHIB) has shown stability and growth, and it is presently being traded at $0.000008903, which represents a 1.77% gain over the course of the previous day.
This performance has contributed to the cryptocurrency’s market capitalisation remaining at $5.25 billion, which places it in the 18th position among cryptocurrencies.
When contrasted with other meme currencies, Shiba Inu exhibits a substantial presence in the market. However, Shiba Inu outpaces younger entries like as Bonk (BONK) and Pepe (PEPE), which have market capitalisation of $634 million and $381 million, respectively. Dogecoin (DOGE), which is its closest competition, has a market cap that is more than $11 billion.
