The Shibarium Beta Testnet, dubbed Puppynet, has reached a new milestone with over 30 million transactions and 17 million addresses. This is a significant achievement for the Layer 2 solution, which is still in its beta-testing phase.
The surge in network activity comes after Shytoshi Kusama, the lead developer of SHIB, confirmed the long-awaited launch of Shibarium Mainnet at the upcoming Blockchain Futurist Conference. This is expected to further boost the adoption of Shibarium and drive even more traffic to the network.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Bitrue Introduces New Shibarium Staking Pool. Stake LEASH and BONE to Earn SHIB. Here’s how
The Surge in Network Activity
The surge in network activity on Puppynet is a good sign for the future of Shibarium. It suggests that there is strong demand for the Layer 2 solution and that it is already being used by a significant number of users.
In the past two weeks, the total number of transactions processed on Puppynet has surged by 17%, surpassing an impressive milestone of 30 million transactions. This figure is 17% higher than that recorded on June 30th, where the total transaction count stood at 25,686,610.
It should be noted that the average block time on the network stands at 5 seconds, indicating efficient and speedy transaction processing.
The beta version of Shibarium has also shown notable advancement in terms of block processes. The total number of processed blocks is on the brink of reaching 1.8 million, with the current count at 1,727,857. This represents a 15% rise compared to the 1,491,267 blocks processed on June 30th.
Puppynet has also witnessed a surge in new wallets, with 54,411 wallets created in the past two weeks alone. There are now 17,062,130 addresses connected to the Shibarium beta on Puppynet.
Read Also: SHIB News: Shibarium Launch Date Confirmed By Shiba Inu Lead Developer
What Does This Mean for SHIB Holders?
The surge in activity on Puppynet is good news for SHIB holders. It suggests that there is growing interest in the project and that the Layer 2 solution could have a positive impact on the value of SHIB going forward.
If Shibarium is successful, it could help to reduce the transaction fees associated with SHIB, making it more affordable for users to buy and sell the token. This could lead to an increase in the demand for SHIB, which could in turn drive up the price of the token.
Of course, it is important to note that there is no guarantee that Shibarium will be successful. However, the surge in activity on Puppynet is a positive sign, and it suggests that the project has the potential to be a major success.
Follow us on Twitter, Facebook, Telegram, and Google News
