The Shibarium Testnet has released a new wallet update in response to a significant surge in the number of transactions. The test version of Shibarium, known as Puppynet, has set new utility records and reached new milestones, with over 32 million transactions in total. The testnet was restarted recently after a temporary halt, and the number of produced blocks has significantly increased. Additionally, lead developer Shytoshi Kusama announced that the scaling of Shibarium is progressing successfully and will undergo further testing before reopening to the public. Furthermore, the Shiburn explorer has reported a significant burn of Shiba Inu (SHIB) tokens, indicating ongoing efforts to decrease the circulating supply.
New milestone smashed by Puppynet, number of wallets updated
Puppynet, the test version of Shibarium, has achieved a new record level of transactions, demonstrating its growing utility and efficiency. The testnet recently restarted after the mainnet launch during the Blockchain Futuristic Conference. This halt allowed for necessary updates and improvements. Since its reactivation, Puppynet has seen a significant increase in transaction flow, surpassing 32.6 million transactions in total. Additionally, the number of produced blocks has increased, indicating the continuous development and progress of the network. However, the number of wallets connected to Puppynet has been updated downward to reflect more accurate statistics.
Shibarium tested in private mode
Shibarium, the mainnet of the Shib token, has undergone testing in private mode to ensure its scalability and functionality. Lead developer Shytoshi Kusama provided an update on the successful launch of the blockchain in private mode. Blocks are being produced as expected, indicating the stability and reliability of the network. Further testing will be conducted before Shibarium is reopened to the public, ensuring that any potential issues are addressed and resolved. This careful testing process demonstrates the commitment to quality and performance in the development of Shibarium.
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Close to hundred million SHIB burned
The burn rate of SHIB tokens has increased significantly, with 86,613,348 SHIB transferred to dead wallets within 24 hours. This burn rate represents a negative percentage compared to the previous day, indicating a decrease in circulating supply. The two largest transactions burned 22,229,850 SHIB and 11,199,072 SHIB respectively, while the smallest transaction burned 119,904 SHIB. Despite the decrease in SHIB price following the launch of Shibarium, the community remains dedicated to reducing the circulating supply through token burning. This effort to decrease supply can have a significant impact on the token’s value.
Shibarium and Puppynet updates
Both Shibarium and Puppynet have seen significant updates and milestones reached. Puppynet has surpassed a new record level of transactions, indicating its growing utility and efficiency. The number of produced blocks has also increased, demonstrating continued development and progress. Meanwhile, Shibarium has undergone successful testing in private mode, with blocks being produced as expected. These updates show the commitment to improving and expanding both networks, ensuring their scalability and functionality.
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Impact on SHIB price
The launch of Shibarium has had a temporary effect on the SHIB token price, resulting in a decrease. However, it’s important to note that this is a short-term fluctuation and not necessarily indicative of long-term trends. Additionally, the community has been actively working to decrease the circulating supply through token burning, which can have a positive impact on the token’s value over time. It’s important for investors to consider the long-term prospects and potential of the SHIB token, rather than focusing solely on short-term price fluctuations.
Importance of wallet update
Updating wallets is crucial for both improved functionality and security. With each update, wallets can enhance user experience and provide increased transaction volume. By ensuring that wallets are updated regularly, users can take advantage of new features and improvements, as well as mitigate potential security risks. It’s important for all users to stay informed about wallet updates and make the necessary updates to maintain a seamless and secure user experience.
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Future plans for Shibarium
The next step for Shibarium is the public reopening of the mainnet. This will allow a wider audience to experience the benefits and capabilities of the Shibarium network. Continued development and updates are essential to ensure the scalability and functionality of the network. By addressing any potential issues and making necessary improvements, Shibarium can position itself as a leading blockchain project with the potential for further scalability improvements.
Community response to wallet update
The SHIB community has shown a positive response to the wallet update. Feedback and suggestions for improvement have been provided, highlighting the engaged and passionate community behind the project. Anticipation for future updates and developments is high, indicating a strong belief in the potential of Shibarium. The community’s involvement and support play a crucial role in the success and growth of Shibarium, and their feedback will continue to shape the evolution of the network.
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Comparing Shibarium to other blockchain projects
Shibarium offers several differentiating features that set it apart from other blockchain projects. Its focus on scalability and functionality, combined with the dedicated community behind it, positions Shibarium as a promising project in the blockchain space. While it’s important to consider the advantages and disadvantages of Shibarium compared to its competitors, it’s also important to recognize the potential for mass adoption. With continuous development and improvements, Shibarium has the potential to attract a wider audience and drive widespread adoption of its network.
Conclusion and future prospects
Shibarium’s recent wallet update marks another step forward in the development of the network. The achievement of new milestones and records, combined with the positive community response, bodes well for the future prospects of Shibarium. With continued development, testing, and updates, Shibarium has the potential to establish itself as a leading blockchain project. The long-term outlook for Shibarium remains optimistic, with the potential for further development and success in the future.
