In a recent blog post, the chief developer of Shiba Inu, Shytoshi Kusama, announced an impending milestone of 1 million transactions on the Shibarium Layer 2 (L2) network. Kusama praised the ShibArmy community for accumulating more than 1 million wallets and called Shibarium one of the “quickest and least expensive” L2 networks available.
Shibarium aims to scale the distinctive Shiba Inu mission built on Ethereum by enabling quicker and less expensive transactions. In addition, the update highlighted the low cost of fuel in the area, an improvement that seemed to impress Kusama despite local concerns that extremely low prices would discourage miners.
The update highlighted the availability of a hosted version of the Blockscout explorer on Shibariumscan, enabling users to conduct independent research and validate contracts. The explorer will be managed by Blockscout, while the protocol group focuses on Shibarium’s advancement.
This partnership ensures that the chain remains entirely listed, which makes mission audits easier and promotes trust within the ecosystem. Shibarium intends to showcase projects created on its platform in the near future, provided that their contracts are fully checked.
Kusama also described new tokens that have been linked to the Shibarium bridge, including the stablecoins USDT, USDC, and DAI as well as other assets like Wrapped Bitcoin (WBTC) and XFUND.
The distribution of those tokens on the Shibarium platform is a part of a larger strategy to increase the platform’s usability and draw in a wider range of developers and users. Additionally, partnerships with third-party bridges are in the works to make it easier for tokens to be converted into Shibarium.
The neighborhood is already celebrating Shibarium‘s short-term successes and landmarks, but the long-term goal appears to be to support community-led innovation. Kusama stressed that the Shib group’s future initiatives will center on building applied sciences on top of Shibarium, with the ultimate goal of having the community host the “next major innovation.”