Shibarium Explorer Gets Upgrade to Enhance Transparency
Shibarium, the layer-2 scaling solution for Shiba Inu, continues to gain traction with a recent update to its blockchain explorer, Shibariumscan.
Shibariumscan plays a crucial role in ensuring transparency on the Shibarium network by allowing users to explore transactions, addresses, and other vital data. Blockscout, the open-source platform powering Shibariumscan, has introduced a new feature to further enhance this transparency.
Read Also: Shiba Inu Price Tumbles as Whale Transfers 1.24 Trillion Tokens to Exchanges
Blockscout: Powering Shibarium Exploration
For those unfamiliar, Blockscout is a popular platform that provides blockchain explorers and analytics tools for various Ethereum-compatible networks. It’s the backbone behind both Shibariumscan (mainnet) and Puppyscan (Shibarium testnet). This latest update to Shibariumscan marks another step forward in its development.
Exciting updates have landed on Shibariumscan! 🎉
The new L1 <-> L2 views for @ShibariumNet significantly enhance the usability of the explorer and provide deeper insights for all developers and users of #Shibarium. 🐶
Check it out now at https://t.co/aqrLbx9Wd8 pic.twitter.com/Bm8OBdyCeD
— Blockscout (@blockscoutcom) March 14, 2024
L1-L2 Window Sheds Light on Fund Movements
The exciting new update introduces the “L1 <-> L2 window,” enabling users to track the movement of funds between the Ethereum layer-1 network and the Shibarium layer-2 network. This window offers two key functionalities:
Read Also: XRP Struggles Now, But Analysts See Big Future: $500+ Possible?
- Deposits (L1 -> L2): This tab showcases all transactions where users bridge their tokens from Ethereum to Shibarium. Each bridging transaction generates separate transaction hashes on both Ethereum (L1) and Shibarium (L2), and Shibariumscan conveniently displays both for easy reference. Data reveals over 27,847 deposits since Shibarium’s launch.
- Withdrawals (L2 -> L1): This tab details transactions involving the transfer of assets back from Shibarium to Ethereum. Similar to the deposits tab, it displays transaction hashes on both networks. Interestingly, Shibariumscan data shows only 6,816 withdrawals compared to deposits, suggesting users are holding onto their bridged assets within Shibarium.
Shiba Inu Developer Acknowledges Blockscout’s Contribution
Kaal Dhairya, a prominent Shibarium developer, expressed his appreciation for Blockscout’s continuous efforts in improving Shibariumscan’s functionality. He highlighted the importance of Blockscout’s role in enhancing Shibarium’s visibility and recommended their services to other blockchain projects.
Shibarium Adoption on the Rise
The update comes amidst Shibarium’s impressive growth trajectory. The network has surpassed 408 million transactions just a week after reaching the 400 million milestone. Additionally, the number of wallets on Shibarium has surged to 1.375 million, and Total Value Locked (TVL) recently reached a new all-time high.
Shibarium’s development team appears to be committed to ongoing improvements, and Blockscout’s contributions are proving instrumental in this process. With continued innovation and rising adoption, Shibarium’s future looks promising.
Follow us on Twitter, Facebook, Telegram, and Google News
Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
