Shibarium, the layer-2 scaling solution for Shiba Inu, has achieved a milestone with over 130 million inscriptions showcasing remarkable growth.
Key Takeaways
- Shibarium, Shiba Inu’s layer-2 scaling solution, surpasses 130 million inscriptions, exhibiting exceptional growth.
- The platform distinguishes itself with the industry’s lowest gas fees, outperforming competitors in growth rate and cost efficiency.
- Shibarium’s current transaction speed stands at 200 transactions per second, with an anticipated boost through an upcoming hard fork.
- The platform’s commitment to addressing scalability concerns positions it favorably against established networks like Ethereum and Bitcoin.
Shibarium Surpasses 130 Million
Shibarium, the layer-2 scaling solution tailored for Shiba Inu, has achieved a significant milestone by recording over 130 million inscriptions, solidifying its position as a prominent player in the blockchain space. Notably, this achievement comes with the distinction of maintaining the lowest gas fees in the industry, setting Shibarium apart from its counterparts.
#Shibarium hits over 130M inscriptions and maintains the lowest gas fees https://t.co/WEqnDDSPfT
— U.Today (@Utoday_en) December 19, 2023
Developer Kaal Dhairya from the Shiba Inu team attributes this accomplishment to the dedicated efforts of the Shibarium team, highlighting their efficiency in achieving this feat in a comparatively short period.
Growth Rate and Cost Efficiency
Recent data underscores Shibarium’s impressive growth rate in inscriptions, surpassing competitors in the blockchain arena. With 130 million inscriptions, Shibarium outpaces many rival networks.
Leading the pack is Polygon with 161 million inscriptions, followed by BNB with 77 million, and Avalanche C-Chain with 60 million. Notably, Shibarium achieves this growth while maintaining lower transaction costs, a crucial performance metric in the blockchain space.
Anticipated Developments
Looking ahead, Shibarium is gearing up for an upcoming hard fork that holds the promise of a substantial increase in transaction speed.
Currently processing 200 transactions per second, the hard fork aims to further elevate this figure, reinforcing Shibarium’s standing in the market.
To Conclude
Shibarium’s achievement of surpassing 130 million inscriptions, coupled with the industry’s lowest gas fees, reflects the platform’s commendable growth and efficiency.
With plans for an upcoming hard fork aimed at enhancing transaction speed, Shibarium demonstrates a proactive approach to addressing scalability challenges, solidifying its position as a leading layer-2 scaling solution for Shiba Inu in the competitive blockchain ecosystem.
