Shiba Inu’s Ethereum-based layer 2 blockchain solution, Shibarium, has achieved a significant milestone by surpassing one million blocks and three million transactions since its launch in late August 2023. This achievement can be attributed to the Shiba Inu token burn movement, which encouraged investors to migrate from centralized exchanges to Shibarium. The platform’s growth in demand for scalable features is evident in the increasing number of blocks and transactions. Shibariumscan, a blockchain explorer, reports that there are currently over 1.06 million blocks and 3.38 million transactions. Additionally, there are 1.25 million interacting wallet addresses. Shibarium aims to provide a more scalable and sustainable infrastructure for Shiba Inu transactions as an alternative to centralized crypto exchanges. The anonymous co-founder and lead developer, Shytoshi Kusama, has revealed plans to add validators to the network to enhance its security. The blockchain relies on decentralized validators to ensure the validity of transactions. Shibarium has implemented the EIP-1559 standard, which aims to provide more predictable gas fees. Validators are required to connect 10,000 BONE to the Ethereum staking management contracts and are rewarded for their role in keeping the network decentralized and secure. Overall, Shibarium’s milestone highlights its growing popularity and the commitment to improving its infrastructure.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	0
People	Lucie
Companies	Lucie, Ethereum, EIP-1559, Shytoshi Kusama, Shibariumscan, Shiba Inu, Shibarium, X (formerly Twitter), BONE
Currencies	Ethereum, Shiba Inu, Bone ShibaSwap
Securities	None