Cypher
AltcoinBlockchainCrypto AdoptionCryptocurrencyEthereum (ETH)NewsShiba Inu (SHIB)StakingTrading

Shibarium’s Layer-2 Technology Testnet Reaches Remarkable Milestone

The Shiba Inu community is excited as the Puppynet testnet for Shibarium, the layer-2 technology for Shiba Inu, surpassed a significant milestone. Puppynet officially crossed the 100,000 wallet holders threshold, which illustrates the incredible growth and adoption of this new layer-2 technology in such a short period.

Lucie, a famous SHIB influencer, drew attention to this impressive achievement in a tweet.

Shiba Inu’s Shibarium Testnet Smashes Impressive Milestone

Only a few days after its launch, Shibarium’s layer-2 technology testnet, Puppynet, has achieved a remarkable milestone of 100,000 wallets, according to a tweet by a SHIB influencer, Lucie.

Cypher

The testnet was relaunched on March 24 due to the plagiarism accusations towards Shibarium, causing the developers to modify the chain ID to 719 from 917. A few weeks ago, some users on the Shiba Inu Discord wondered if Shibarium’s developers had taken a shortcut since their blockchain was the same as the lesser-known Rinia blockchain.

This suspicion heightened when a former, now-laid-off developer spoke out and reported unexpected modifications to the code. Despite the rumors, the developers of the countless projects built on Shiba Inu showed no signs of panic.

Moreover, the metrics of their projects remained unaffected. Despite the chain ID adjustment and statistics reset, the testnet still smashed new records.

📰 Also read:  OpenAI Faces Scrutiny Under Italian Data Protection Laws

At the outset, the Shiba Inu Puppynet had only 713 deals on its launch day. However, the figure grew to 41,688 transactions by March 27 and 144,458 by March 28.

Unfortunately, the transaction amount sharply declined on Wednesday, with just 3,118 transactions made that day. Regardless, the number of wallets connected to the network has risen at a similar speed to the transaction volume.

At the time of writing, there were 101,139 wallets. The network has processed 195,377 transactions distributed in 156,513 blocks with an average block time of 5 seconds.

Unification Reveals Comprehensive Multilayer Wallet Solution

Recently, Shytoshi Kusama, the head programmer at Shiba Inu, declared that 500 validators had shown enthusiasm for joining the Shibarium network. According to him, this represents fantastic progress and growth for the project despite being launched a few days back.

Furthermore, Unification, the creator of the Shibarium POS chain, has revealed that it is constructing a new wallet for the network. This wallet is a comprehensive solution platform that facilitates two-way asset exchanges between the primary and secondary layers.

📰 Also read:  EDX Markets CEO Hails Larger Opportunities Outside US Following Crypto Exchange Expansion to Singapore

Also, it has staking/delegating and Shibaswap connectivity. Per Lucie’s tweet, anybody can join Puppynet as a validator. However, such persons must stake a minimum of 10 BONE – Test-BONE and ETH on the Ethereum Goerli test network. Currently, SHIB trades at $0.00001059, down 0.7% in the last 24 hours, according to Coingecko data.


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Reddit Ventures into Cryptocurrency, Filing Discloses Dealings in Major Cryptocurrencies

Cypher

Bradley Nelson

Bradley Nelson is a US based cryptocurrency news writer for Tokenhell, he helps readers stay up to date with the latest trends and news from the blockchain and crypto world. Bradley has been a crypto enthusiast since 2018.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content