$SHIB: Shibarium’s Testnet Puppynet Surpasses 30 Million Transaction Milestone

$SHIB: Shibarium’s Testnet Puppynet Surpasses 30 Million Transaction Milestone

Time Stamp: July 17, 2023 8:40 PM
Source Node: 2174726

The native test network of Shiba Inu’s layer-2 Shibarium, fondly called Puppynet, has recorded an impressive tally of over 30 million transactions, emanating from an estimated 17 million wallets. This notable achievement signals the network’s steady march towards a broader release slated for the forthcoming months.

Puppynet is Shibarium’s testnet, meaning a blockchain network tailored for testing that serves as a replica of the main chain. These networks allow developers to fine-tune and debug potential issues, as well as keep an eye on network activity prior to a larger-scale rollout.

Data from Puppynet blockchain explorer BlockScout reveals that the network has now processed over 30 million transactions, with 5 second block times and over 1.7 million total blocks. Notably, average daily transactions are trending downward.

The robust engagement seen in Puppynet may be indicative of the burgeoning demand for Shibarium. This heightened interest could translate into an uplift in the value of both $SHIB and $BONE, two of Shibarium’s native ecosystem tokens

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Shibarium represents a milestone for the Shiba Inu ecosystem, whose token is currently running on the Ethereum network which, despite being a highly safe and decentralized blockchain, has drawbacks when it comes to scalability and transaction throughput.

As CryptoGlobe reported, massive Shiba Inu whale that has seemingly been dormant for nearly half a year has recently reawakened and resumed its trading activity, moving over 4 trillion SHIB to a number of different addresses out of its over 100 trillion war chest.

The whale’s massive transactions come after the burn rate of the meme-inspired cryptocurrency recently surged over 8,900% in just 24 hours after a project known as Akai Token ($AKAI) moved 804 million tokens to a dead wallet in a historic burning frenzy.

As CryptoGlobe reported, the meme-inspired cryptocurrency has been seeing significant growth over the last few months, to the point that data shows explosive growth of its daily new addresses on the network in the second quarter of the year.

Featured image via Unsplash.

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