Shibarium Hits 1 Million Blocks: What’s in Store for SHIB and BONE Coins?

Crypto News- On October 6, the Shibarium Network reached a significant milestone by confirming 1 million blocks. This layer-2 blockchain was developed by the creators of ShibaSwap (BONE) with the aim of enhancing the scalability of the Ethereum network. This achievement stands as a testament to the strong support it has garnered from the Shiba Inu (SHIB) community, thriving within the decentralized finance landscape.

Shibarium Hits 1 Million Blocks: What’s in Store for SHIB and BONE Coins?

Since its inception, Shibarium faced its share of challenges, particularly concerning Ethereum’s bridge and block production. These challenges arose due to an unexpected surge in network demand, resulting in considerable congestion within a single block, ultimately leading to the network going into a ‘fail-safe mode’.

Nevertheless, after a brief pause, the layer-2 network was successfully reinstated, and it has now reached an impressive milestone of 1 million confirmed blocks, boasting an average block time of just 5 seconds. This accomplishment underscores the stability of Shibarium and the effective resolution of past issues. Furthermore, the increasing number of transactions and wallet addresses within the ecosystem signifies a growing demand for and utilization of Shibarium.

As a result, tokens like SHIB and BONE are poised to benefit from the continued smooth operation and expansion of Shibarium. Notably, BONE, which serves as the token for gas fee payments in transactions, is likely to witness heightened demand as more investors participate in the ecosystem, consequently exerting a positive influence on its value in the open market.