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The Layer-2 blockchain of a popular meme coin has achieved a remarkable feat processing over 1 billion transactions since its inception in 2023.
The significant milestone attained by Shibarium, the Layer-2 blockchain of Shiba Inu, could be an indication of the growing adoption of the token within the cryptocurrency space.
Shiba Inu Milestone: 1 Billion Transactions
Reports disclosed that in less than two years, Layer-2 blockchain Shibarium has already made a mark in the crypto space after the token has processed its 1 billionth transaction.
Meme coin Shiba Inu only introduced Shibarium in August 2023 and four months before celebrating its second anniversary, its transaction volume has surpassed the 1 billion mark.
Analysts said that Shibarium achieved the incredible feat of 1 billion transactions yesterday, March 31, noting that the Layer-2 blockchain was able to reach that level after recording four million transactions daily.
As of writing, Shiba Inu’s blockchain has reached the record level with a current transaction volume of over 1.001 billion.
Market observers believed that Shibarium’s achievement suggested that the blockchain can handle high transaction volumes, which they attributed to the token’s robustness and the active participation of the blockchain community.
Faster Than Bitcoin
Crypto analysts said that other blockchains like Bitcoin and Ethereum have already processed more than a billion transactions. However, they noted that what makes Shibarium’s achievement stand out is the speed at which it reached that remarkable feat.
Market observers compared Shibarium with other established blockchains that attained the same mark. They explained that Shibarium’s journey to attain 1 billion transactions is unique because the Layer-2 blockchain achieved it faster than the other blockchains.
For example, Bitcoin needed 15 years to reach 1 billion transactions, while Shibarium did it in less than two years.
Over 193 Milion Addresses
Aside from the milestone in transactions, the popular L2 blockchain also has more than 193.93 million blockchain addresses that have interacted with Shibarium since it was introduced in 2023.
According to Shibariumscan, Shiba Inu’s blockchain network boasted a total of 10.23 million mined blocks, with an average block time of 5.0 seconds.
The Layer-2 blockchain was launched on August 16, 2023, after posting its first transaction. Early in its operation, the Shibarium faced technical issues that put it offline for two weeks after it was launched. It went online again in late August 2023 and has been operational ever since.
Featured image from Gemini Imagen, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
