In a recent development, Shiba Inu’s Shibarium, backed by lead developers Shytoshi Kusama and Kaal Dhairya, has showcased an extraordinary leap in scalability, emphasizing its exceptional processing capabilities within the cryptocurrency sphere. Kusama, at the forefront of the project, recently disclosed Shibarium’s current handling capacity at an impressive 200 transactions per second, marking a substantial advancement in its transactional efficiency.
Shiba Inu developer Kaal Dhairya recently shared in an X post that they plan to improve the network’s capacity majorly. The upcoming hard fork aims to increase the network’s capacity to process over 200 transactions per second, a significant upgrade from the current benchmark.
The issue of scalability remains a focal concern in the blockchain domain, with established networks such as Ethereum and Bitcoin persistently endeavoring to balance efficiency and security. Ethereum, for instance, currently operates at a transaction rate of approximately 13-14 transactions per second.
The recent pivotal hard fork that migrated Shibarium to the Sepolia network has significantly bolstered its scalability and operational efficiency, particularly in crucial sectors like DeFi and NFTs. This upgrade incorporates a strategic token-burning mechanism to reinforce the network’s economic model and drive the token’s value.
Critical to the network’s evolution, the Shibarium fork aims to reduce transaction costs, expedite transaction processing, and enhance the utility of its native tokens. Shibarium’s recent milestone achievement on November 30, processing an astounding 952 transactions within a five-second block, attests to the effectiveness of these upgrades.
The surge in the network’s transaction volume underscores the necessity of fortifying Shibarium’s processing speed. From a modest 4.1 million transactions on November 24, the L2 scaling solution has seen an extraordinary surge, now totaling 58,335,928 (58.33 million) transactions. This rapid escalation highlights Shibarium’s capability to process over 54 million transactions within two weeks, marking an exceptional feat in the cryptocurrency’s evolution.
