Shibarium Hits Monumental 200 Million Transaction Milestone: What To Know
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Shibarium Achieves 200 Million Transaction Milestone
The Shiba Inu ecosystem reached a groundbreaking achievement with its Layer-2 (L2) scaling solution, Shibarium. The L2 scaling solution recently crossed 200 million transactions, marking a substantial leap forward in its adoption and utilization.
The news of Shibarium’s remarkable accomplishment indicates a widespread embrace of the L2 network within the Shiba Inu ecosystem. Lucie, the marketing lead for Shiba Inu, verified this development through a tweet.
Shortly after reaching the 200 million transaction mark, Shibarium’s total transactions surged to approximately 206.88 million, according to data from Shibariumscan.io. This significant stride follows Shibarium’s earlier success in processing 100 million transactions, a feat previously hailed by Shytoshi Kusama, Shiba Inu’s lead developer, as not merely a milestone but a “moonstone.”
While Kusama hasn’t responded to this latest achievement yet, expectations are that the lead developer might coin another catchy phrase to encapsulate this noteworthy milestone.
Shibarium’s Evolution And Growth Trajectory
Shibarium started slowly, with only a few thousand daily transactions during its early phase. As of November 23, despite launching four months earlier, Shibarium had processed a mere 4 million transactions.
Undeterred by the initial sluggish adoption, the team diligently worked behind the scenes to enhance the network’s usage. These concerted efforts became evident this month when daily transactions on Shibarium rose to between 5 million and 8 million.
On-chain data indicates Shibarium’s daily transaction count is up to 7.85 million, showcasing the network’s robust capability to manage substantial transaction volumes efficiently. Beyond achieving this remarkable transaction milestone, Shibarium has successfully generated 2.34 million blocks, with an average block time of 5.0 seconds.
The network boasts a cumulative tally of 14,528 contracts, including 1,151 verified contracts, further solidifying its stance within the Shiba Inu ecosystem.
Shiba Inu Team Unveils Latest Developments on Shib Name Service
D3 Global, a prominent domain name startup, along with Shiba Inu’s marketing lead, Lucie, shared an update regarding the newly introduced .shib internet domain name, providing Shiba Inu enthusiasts with an opportunity to secure their .shib names in the global domain name systems (DNS).
In a recent tweet, D3 shared a platform link allowing Shiba Inu holders to sign up for early access, enabling them to reserve their unique .shib names.
The announcement emphasized the forthcoming opportunity for ShibArmy to acquire its official interoperable digital identity by acquiring a SHIB Name Token, a new digital identity. Shiba Inu holders must visit the D3 platform and pre-register to secure early access.
Upon visiting the website, they should click the “Save Your Spot” button and enter their email address. Subsequently, D3 will send a login link within a 30-minute timeframe, enabling users to search for available .shib names. If a chosen name is available, users can click the “Remind me when Early Access begins” button to complete the process.
A Quest for Unique Top-Level Domain (TLD)
The recent update follows the strategic partnership established over a week ago between Shiba Inu and D3, aiming to launch DNS alternatives for the SHIB community. This collaboration allows SHIB Army members to apply for the .shib top-level domain (TLD) during the upcoming application window of the Internet Corporation for Assigned Names and Numbers (ICANN).
A top-level domain (TLD) represents the final portion of a domain name found after the dot in a website’s address, such as .biz, .com, .org, and .net. Shiba Inu’s intention to secure its unique TLD with SHIB mark positions it among the first Web3 protocols seeking their TLDs.
The application for a TLD is a rigorous process requiring approval from ICANN.
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