Shibarium Network Achieves 1 Million Blocks Milestone, Highlights Growing Bone Utility
Shibarium beta, known as “Puppynet,” has achieved a significant milestone by surpassing 1 million blocks. PuppyScan, a tool used to track the testnet of Shibarium, reports a total of 1,014,430 blocks produced. This accomplishment highlights the progress and development of the Shibarium network.
The Shibarium network has processed a total of 12,836,266 transactions since its launch on March 11. The number of interacting wallet addresses has exceeded 16 million, reaching 16,033,219. Currently, the average block time is five seconds. The Shiba Inu community is excited about reaching the milestone of 1 million total blocks, which showcases the growing utility of the Bone token.
The most notable aspect of the Shibarium network’s architecture is its three-layered design. The third layer, known as the Bor layer, is primarily focused on block production. The Bor node, also referred to as the Block Producer implementation, acts as the side chain operator with Ethereum Virtual Machine (EVM) compatibility.
The fee model employed in the Shibarium network is significant as well. Normal transactions generate fees in the form of BONE tokens, collected by the Bor layer and distributed to block producers. BONE tokens serve as the main token for staking and paying gas fees in Shibarium transactions, highlighting their utility in block production.
In other news, Shiba Inu has taken additional measures to protect the SHIB community from scams. Lucie, an official from the Shiba ecosystem, shared an update regarding the Twitter account previously known as “Susbarium,” which identified scams within the SHIB ecosystem. The account has now been renamed as “Shibarmy Scam Alerts” and is under the control of moderators from the Shibarium Tech Discord channel.”
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