Shiba Inu: Shibarium Makes History as Major Milestone Reached

Shiba Inu layer-2 solution Shibarium has reached a significant milestone by processing over 400 million transactions. This achievement comes amid "meme season," which saw Shiba Inu's price skyrocket by nearly 300% in a matter of days.

In an exciting tweet, the official SHIB X handle hinted that meme season might have arrived on Shibarium. "Meme season has arrived on Shibarium, Who will emerge as the top dog?" the post read.

Congratulation to everyone on #Shibarium !

400 M transactions! pic.twitter.com/zVYJmgX98A— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼‍♀️ (@LucieSHIB) March 7, 2024

Shibarium has quickly gained traction since its late August 2023 launch, surpassing 3.5 million in total blocks and a whopping 400 million in total transactions.

According to Shibarium Scan Explorer, the total transactions for Shibarium are 400,605,668. Total blocks have reached 3,546,814, and wallet addresses are at 1,368,583.

In the last 24 hours, Shibarium saw a mild uptick in daily transactions, which came in at 1.81 million.

Shiba Inu stays steadfast in protecting Shibarium

As the cryptocurrency industry grows with innovative developments, it also faces an increase in security vulnerabilities, which pose significant financial risks.

Hacken, a blockchain security services company, presents this year's security challenges, which include layer-2 solution attacks, access control breaches and rug pulls.

As the cryptocurrency market prepares for a potential bull run, the emergence of new protocols and liquidity may increase security risks. According to the most recent issue of Shib magazine, the Shiba ecosystem's Shibarium is well-prepared to face these challenges.

In response to rising security concerns on the cryptocurrency landscape, Shiba Inu developer Kaal Dhairya outlined some actions that the Shiba Inu team has implemented to strengthen its defenses and protect its users.

Shiba Inu would incorporate Fully Homomorphic Encryption (FHE) into its framework, thereby offering greater data privacy and security. Furthermore, an approach that includes self-sovereign identity (SSI) provides users with complete control over their data.