Shiba Inu: Shibarium Beta Testnet Sprints to 1M Transactions in a Week

Within a week of its launch, Puppynet, the beta testnet for Shibarium, Shiba Inu’s layer-2 network, has gained significant traction, with many users adopting it. Data from Puppyscan, a blockchain explorer developed on Shibarium, indicates that the beta testnet for Shibarium has now exceeded 200,000 wallet addresses.

It was reported that the Shibarium Beta testnet had achieved a significant milestone of 100,122 wallet addresses on March 30. Surprisingly, in less than 24 hours, Shiba Inu enthusiasts have doubled that milestone, as the network has now exceeded 200,000 wallet addresses. This indicates a rapid increase in adoption and interest in the network.

Shibarium Hits over 1 Million Transactions in Record Time

It is worth noting that the beta testnet of Shibarium, which is Shiba Inu’s layer-2 network, has already processed many transactions. Specifically, the network has recorded a total of 1,054,391 transactions that have taken place in 174,494 blocks. The average time it takes to process each block is around 7.3 seconds. This demonstrates the efficiency and effectiveness of the network’s infrastructure in handling a large volume of transactions in a short time.

The Puppynet had its highest daily transaction volume on March 28, when it processed 144,458 transactions daily. However, the number of daily transactions decreased significantly in the following days. On March 29, Puppynet only processed 3,118 transactions, while on the previous day, March 30, it processed 9,530. This suggests there may have been a spike in activity on the network initially, but the usage has since dropped off.

Notably, the Shibarium Beta testnet accomplished this impressive achievement just one week after its launch. Given the substantial increase in adoption and usage of the beta testnet, it is reasonable to anticipate that the upcoming mainnet of the L2 network will also experience a surge in popularity.

Shiba Inu’s L2 network, Shibarium, appears to be progressing smoothly, with multiple validators expressing interest in joining the network. Shytoshi Kusama, the lead developer of Shibarium, has disclosed that 500 validators have submitted applications to become validators on the network. Although Shibarium can only accommodate 100 validators, having a large pool of interested validators would enable the team to select the most qualified candidates.

Despite the impressive achievement, the price of the Shiba Inu token did not experience a positive change. In fact, over the past 24 hours, the token’s value has decreased by 0.73%, and over the past seven days, it has increased by 0.31%. As of the time of writing, the SHIB token is trading at a value of $0.00001061, as reported by Coingecko.

Olasunkanmi Abudu

Olasunkanmi Abudu is a Web3 content writer with over five years of experience covering blockchain, decentralized finance, and digital assets. He specializes in producing well-researched and accessible content that explains complex technologies and market trends to both general readers and industry professionals.

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