Although the testnet for layer-2 technology of Shiba Inu, Shibarium, is only a few days old, it has seen significant growth and adoption by the community in just a short period of time. SHIB influencer Lucie drew attention in a tweet to the fact that the beta test network for Shibarium, Puppynet, has reached the important milestone of 100,000 wallets yesterday.
Congratulation! 🎉https://t.co/DzdCVKZg7U crossed 100k wallets!!! #Shibarium x $BONE it will be wild 👀 pic.twitter.com/SvkWZZgSHx
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) March 30, 2023
The SHIB Army member is referring to the blockchain explorer for the latest technology of Shiba Inu: https://puppyscan.shib.io/. The testnet was relaunched on March 24 following plagiarism allegations surrounding Shibarium which led the developers to change the chain ID from 917 to 719.
As Bitcoinist reported, voices surfaced in the Shiba Inu Discord two weeks ago that suspected a shortcut by Shibarium’s developers due to the same chain ID used by the lesser-known Rinia blockchain. The chaos worsened when former developers, who have since been laid off before, raised their voices and also reported unexplained changes to the code.
The developers, as well as the numerous projects based on Shiba Inu, have apparently not been affected by these rumors. Although the statistics were reset after the chain ID change, the metrics have reached new highs yesterday.
While the Shiba Inu Puppynet had only 713 transactions on launch day, volume grew to 41,688 transactions on March 27 and 144,458 transactions on March 28. Yesterday, Wednesday, the transaction volume dropped precipitously to 3,118 transactions.
Despite that, the number of wallets has increased just as rapidly as the transaction volume. At press time, there were already 101,139 wallets. The network has now processed a total of 195,377 transactions in 156,513 blocks. The average block time was 5.0 seconds.
Shiba Inu Takes Big Steps Forward
Already in the last few days, numerous remarkable advances and the growth of Shibarium have become apparent. Shytoshi Kusama, the chief developer of Shiba Inu, revealed that 500 validators have expressed their interest in joining the network.
In addition, Unification, the developer of Shibarium, announced that it is working on an innovative wallet for Shibarium. The wallet is an all-in-one solution that enables two-way asset transfers between the first and second layers, as well as includes staking/delegating and a Shibaswap integration.
As Lucie recently explained, anyone can join Puppynet as a validator. To become a Shibarium validator on the testnet, users must stake at least 10 BONE – these are Test-BONE and ETH on the Ethereum Goerli test network and can be requested from the faucet.
At press time, the price of Shiba Inu (SHIB) was trading at $0.00001062, registering a retest of the descending trendline after breaking out. Remarkably, the downtrend has been in place since early February. To confirm the breakout, a move above $0.00001162 is crucial.
Featured image from Binance, chart from TradingView.com