Shiba Inu Coin’s Shibarium network has processed over 5 million blocks, a significant milestone since its launch last August.

The layer-2 scaling solution aims to reduce transaction fees and improve scalability for the Shiba Inu ecosystem. The platform’s burning mechanism has also seen a 350% increase in burn rate, destroying almost 10 million tokens in the last 24 hours.

The goal is to reduce the circulating supply of SHIB tokens, potentially increasing its value. SHIB’s price is currently up slightly following a revival of the meme coin sector.

Shiba Inu Coin’s Shibarium’s Rapid Progress

Shiba Inu Coin’s layer-2 scaling solution, called Shibarium, has reached a big milestone. It has processed over 5 million blocks since its launch in August last year. This shows how quickly Shibarium is growing.

Besides, there have been more than 417 million transactions on the L2 blockchain solution, and it now has over 1.8 million wallet addresses. It aims to cut down transaction fees, make transactions faster, and make the Shiba Inu coin ecosystem more scalable.

Shiba Inu Coin’s Shibarium User-Friendly Upgrades

Last month, the Shiba Inu Coin’s Shibarium team updated their user interface (UI) to be faster, smoother, and easier to use. They made sure it worked well with popular self-custody wallets like MetaMask, Coinbase Wallet, and Trust Wallet. This upgrade is meant to make the overall experience better for users.

Empowering Developers and Innovators

After the UI upgrade, Shibarium made a significant change to its system called a hard fork. This is to achieve a few things:

They want to make it easier for developers to contribute to the system.

The hard fork aims to make interactions smoother and better for users.

By making block processing faster, everyone benefits, both users and developers.

Crypto markets are volatile by nature. One should do their own research before investing.

Also Read: SHIBA INU Coin Burn Rate Soars to 16600%: What’s Next?