Shiba Inu’s layer-2 protocol Shibarium continues to scale new heights, as gauged by the surge in the adoption rate. In just a fortnight, the scaling solution has onboarded more than 375,000 new wallets, along with a record-breaking daily average of 1 million transactions, reflecting its popularity among crypto enthusiasts.
These milestones have cemented its position among the leading players in the L-2 space, aiming to tackle Ethereum’s high gas fees and improve transaction speed. The Shibarium ecosystem features a variety of tokens, each serving distinct purposes such as utility, governance, and native tokens. Users can utilize these tokens for staking, transactions, or rewards.
This surge in adoption comes at a crucial time when Shibarium is solidifying its position as a key player in addressing Ethereum’s high gas fees and enhancing transaction speed for market participants dealing with ecosystem tokens like Bone ShibaSwap (BONE), LEASH, and SHIB.
One of the notable impacts of widespread adoption was the significant increase in transaction fees at BONE. Fees rose sharply from 10 BONE on April 10 to 213 BONE, showing a remarkable increase of over 2,000%. Additionally, Shibarium now has over 1.4 million wallet addresses, a number that continues to grow following a recent update.
Shiba Inu’s Leap into CDSA Membership
In a related development, Shiba Inu recently made history by joining the Content Delivery and Security Association [CDSA] to enhance its reach and explore opportunities for blockchain-enabled content distribution and business capabilities. CDSA’s notable members include major tech and entertainment players such as Apple and Netflix. Being a legacy nonprofit organization, CDSA has been renowned for its best practices in the delivery and storage of entertainment, software, and information technology since 1970.
This is the first time a layer 2 blockchain like Shiba Inu has allied with the CDSA and is touted to significantly bolster this presence across their content development and distribution supply chains. The SHIB team is offering expertise and insight in understanding and leveraging blockchain technology for CDSA members.