Shibarium, the layer-2 network for Shiba Inu (SHIB), recently achieved a significant milestone in transaction volume on its testnet, Puppynet. The co-creator of SHIB, known as Shytoshi Kusama, has expressed his delight over this achievement on Twitter.
A Twitter user by the name of “cryptolight Shibarium” recently shared the news that Shibarium had surpassed 31 million transactions on Puppynet. Kusama responded with an enthusiastic “partying face” emoji and congratulated the team for this new feat of utility.
Puppynet serves as the testnet for this layer-2 network to facilitate cost-effective and scalable transactions. Launched on March 11th, Puppynet saw notable spikes in daily transactions on July 4th (277,139) and July 11th (279,814), as reported by Puppyscan, the official explorer for Puppynet.
As of now, the total number of transactions on Puppynet stands at 31,546,937, with an average of approximately 256,340 daily transactions. Furthermore, there has been a consistent level of connectivity with Puppynet among 17,062,440 wallets.
SHIB Dev Warns Community About Security Risks
In addition to celebrating the success of this layer-2 network, Kusama also issued a major security warning to its community earlier this week. He advised only buying cold wallets directly from manufacturers to avoid losing their crypto assets to hackers or scammers.
He called this advice a “security sidenote” and said it was important to protect the community from potential threats. He also reminded the community that the preordered 5,000 cold wallets made by Tangem, a Swiss crypto wallet company, will start shipping next week.
These wallets are compact, measuring the size of a plastic bank card. They provide a secure and convenient solution for storing more than 6,000 digital currencies. They are specifically crafted to provide security and convenience for holding crypto tokens.
The beta version for this layer-2 network is set to launch in the near future, as revealed by Kusama in a blog post back in February. He said that the beta version would cater to retail investors and billion-dollar companies seeking to use it as a payment method.
The SHIB is currently trading at $0.0000078, with a market cap of $4.62B. In the last 24 hours, the trading volume reached $69.11M, while it has experienced a decrease of 0.34%. Its price can rise if it fixes above the $0.000008 zone. It has risen over 1,000% since the beginning of the year.
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