Shibarium, the Layer 2 network of the popular altcoin Shiba Inu (SHIB), has made a significant leap by surpassing 130 million inscriptions while maintaining the industry’s lowest transaction fees. This achievement highlights Shibarium’s competitive edge in the sector.
According to Shiba Inu developer Kaal Dhairy, Shibarium’s success in exceeding 130 million inscriptions faster than other networks is a testament to the team’s meticulous and careful work. The network’s low transaction fees in comparison to its competitors have been a key factor in this achievement.
Current data shows that Shibarium’s surge in inscriptions sets it apart from other blockchains in terms of growth speed and cost efficiency. With 130 million inscriptions, Shibarium has left almost all competitors behind, trailing only behind Polygon, which leads with 161 million inscriptions, followed by BNB with 77 million and Avalanche C-Chain with 60 million. Other networks like Fantom, Celo, Gnosis, Arbitrum One, and zkSync Era have significantly lower numbers.
While producing a record number of inscriptions, Shibarium has managed to do so with lower transaction fees compared to other networks. This cost efficiency is a crucial advantage for the platform’s users.
In addition to these milestones, Shibarium is preparing for a significant hard fork that is expected to substantially increase its transaction speed. Currently capable of processing an impressive 200 transactions per second, the hard fork aims to boost this figure further, strengthening Shibarium’s position in the market. This development is particularly important as Shibarium strives to address scalability issues and compete with major networks like Ethereum (ETH) and Bitcoin (BTC), with market observers anticipating that success in this area could directly impact SHIB’s price.