2023-05-24
The Shibarium network, an Ethereum-based blockchain, is nearing its mainnet release and recently reached a milestone on its native test network called Puppynet Testnet, processing over 10 million transactions. Puppynet has seen significant activity, with over 11 million transactions from nearly 15 million wallets since its launch in March.
The network aims to address scalability and cost challenges through layer 2 solutions. Shibarium developers plan to focus on metaverse, gaming applications, and the growing NFT sector. Additionally, the network will offer a cost-effective settlement for dApps. This launch is expected to strengthen Shiba Inu, originally a meme coin, as it transitions into a serious project with its own blockchain network and dApp ecosystem.
The three ecosystem tokens—shiba inu (SHIB), leash (LEASH), and bone (BONE)—have a combined market capitalization of over $5 billion.
Testnet
Activity: Since its launch on March 11, Puppynet has processed over 11 million
transactions from nearly 15 million wallets. Notably, a large portion of this
activity occurred in the past week, with over 400,000 transactions within a
24-hour period on May 21. This increase in transaction volume showcases the
growing interest and usage of the network.
Overall, the progress of Shibarium's Puppynet Testnet and its upcoming mainnet release, along with the focus on metaverse, gaming, and cost-effective dApp settlement, provide a solid foundation for Shiba Inu's growth and development as a serious blockchain project.
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