Shibarium, the Layer-2 blockchain of the Shiba Inu (SHIB) ecosystem, has crossed a significant milestone, with a total of over 1.3 billion transactions. According to data from Shibariumscan, the total number of transactions now stands at 1,300,837,487.
Spike in daily activity pushes Shibarium past milestone
The volume of transactions carried out on Shibarium underscores the increased user activity on the Layer-2 platform.
Notably, there has been growing engagement on Shibarium lately, with U.Today reporting on a 1,013% spike in the early days of June. On that occasion, the daily transaction count increased from approximately 63,000 to over 700,000 in a single day.
Since then, the daily transaction volume has scaled up into the million zone and remained there. As of June 26, Shibarium registered 4.2 million transactions. The large number of daily transactions supported in pushing the ecosystem to attain the over 1.3 billion milestone.
Notably, Shibarium achieved this feat despite facing network challenges this month. The Shibarium network recorded slower transaction times as the average block time increased to 8.1 seconds from its usual 5.0 seconds.
Many users had expressed concerns about potential network congestion and the possibility that the challenge could impact the blockchain. However, the issue has not lingered for long, and the average block time has been restored to 5.0 seconds.
Deflationary SHIB burn toolkit gets major upgrade
Meanwhile, in a move to improve the Shiba Inu deflationary mechanism, Shibarium has announced an upgrade to the SHIB DeFi toolkit that makes the burn process faster, easier and smoother. The upgrade comes with incentives for users in the ecosystem.
These include the easy swapping of tokens, staking, receiving yields and triggering live burns to maintain SHIB value.
Additionally, Shibarium has also decided to boost the Heimdall and Bor static nodes, which are crucial for validators. It primarily contributes to maintaining security and synchronization while ensuring stable network connectivity.
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