Consistent Growth Hitting Shibarium Network

Since its official send-off in August 2023, the Shibarium network, a layer-2 blockchain that worked for the Shiba Inu ecosystem, has built up some momentum. Transactions have taken off to millions, while the quantity of activities on the network has been on the rise as well.

Recently, the Shibarium network recorded over 63,000 total accounts. This measurement implies that the network has multiplied its users’ accounts from the beginning of December when the figure remained at around 30,000.

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As indicated by Shibariumscan, the account growth metrics track the quantity of externally owned accounts (EOAs) connected with the network. EOAs are accounts made with an interesting confidential key. Subsequently, it is a close option for estimating the number of clients in a network.

Given the above data, it shows that Shibarium has acquired a huge number of users within a brief period of its presence in the blockchain. The network commitment of low charges for token transfers and decentralized applications (dApps) could be the reason that new users are trooping into the Network.

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Shibarium Developers Endeavor

Looking past the user metrics, the Shibarium network is likewise keeping a significant expansion in the number of smart contracts developers by developers. Smart Contract structure is the bedrock for most decentralized applications, executing predefined terms when clients meet them.

Since December 1, Shibarium has been able to add 749 new smart contracts. The Network has been able to consistently add no less than two new contracts every day within the time span, with a record 59 added on January 21.

In the interim, the rising adoption of Shibarium is supposed to help trigger the price of Shiba Inu (SHIB) as developers burn a part of tokens spent by users on gas charges. They have successfully burned over 43.55 billion tokens and stay on track to obliterate more so as to help boost the price.

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Meet Daniel Abang: Crypto guru, content creator, and analyst. With a deep understanding of blockchain, he simplifies complex concepts, guiding audiences through the ever-changing crypto landscape. Trusted for his insightful analysis, Daniel is the go-to source for staying informed and empowered in the world of cryptocurrency.