In a remarkable achievement, the Shiba Inu blockchain’s Layer-2 solution, Shibarium, has defied expectations by rapidly accumulating one million interacting wallets in a mere 18 days after its mainnet launch. This places Shibarium among the fastest-growing Layer-2 blockchains, outpacing well-established networks like Optimism, Arbitrum, and zkSync.
Based on CoinGecko's study titled "Fastest Growing Layer 2 Blockchains" pic.twitter.com/i5Tsi9yu4K
— techcentrik™ (@nicaIBTimes) September 5, 2023
Data compiled by the renowned crypto aggregator platform CoinGecko highlights Shibarium’s exceptional growth trajectory. The comparison with other Layer-2 networks is particularly illuminating. Base, a notable player in the space, took 11 days to achieve the 1 million addresses milestone. In contrast, zkSync, Optimism, and Arbitrum reached this benchmark in 71 days, 191 days, and 303 days, respectively.
Remarkably, Shibarium achieved the same milestone in just 18 days, underscoring its rapid adoption and user engagement. While the network encountered technical issues shortly after its mainnet launch on August 16, the development team worked tirelessly for over a week to address the challenges. On August 28, Shibarium was successfully relaunched with all issues resolved, and within eight days, it surpassed the 1 million interacting wallets mark.
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Despite the initial hurdles, Shibarium has continued to impress the crypto community with its outstanding performance. In just four months since its relaunch, Shibarium has processed a staggering 216.03 million transactions. This remarkable throughput demonstrates the network’s scalability and efficiency in handling a substantial volume of transactions.
As of the latest update, over 1.32 million wallets have interacted with the Shibarium network, highlighting the growing user base and widespread adoption. The network has minted over 2.36 million blocks on its mainnet, boasting an average block time of 5.3 seconds. This rapid block generation further enhances the network’s efficiency and responsiveness.
The success of Shibarium is particularly noteworthy given the challenges it initially faced. The fact that it not only overcame technical issues but also rapidly achieved significant milestones underscores the resilience and determination of the Shiba Inu development team.
The broader crypto community is closely watching Shibarium as it continues to carve its niche in the Layer-2 space. With its impressive transaction volume, growing user base, and rapid block generation, Shibarium has firmly established itself as a formidable player in the blockchain ecosystem, setting a new standard for speed and scalability in Layer-2 solutions.