Shiba Inu lead developers Shytoshi Kusama and Kaal Dhairya have continuously updated the Shiba Inu community since Shibarium launched. This time around, Dhairya has provided some key updates as to the workings of the network.
Shibarium Sees Notable Upgrades
Before now, the network used an open-source version of Blockscout with limited capabilities. Due to this, there had been instances where the Shibariumscan was down, with the developer having to clarify in a tweet that this didn’t mean the network was down.
However, with this implementation, Dhairya believes that he and his colleagues can work on the network and its upgrades while the “fantastic Blockscout team” works on ensuring that the network explorer “remains operational and the chain is 100% indexed.”
He further encouraged users to be careful when trading on the blockchain, as they should use the explorer to do their own research and verify any new or existing token contract deployed on the network.
More tokens are expected to be deployed on the network, as Dhairya confirmed that the team was collaborating with “numerous third-party bridges” that will help in bridging other tokens into the ecosystem.
Meanwhile, projects building on Shibarium have to ensure that their contracts are verified, as this is one of the things that the Shibarium team will consider when promoting projects built on the layer-2 network. To verify, these projects must use the Blockscout contract verification system.
Dhairya also shared the verified WBONE contract address. This comes after lead developer Shytoshi Kusama had last week announced that the team was working on launching the official WBONE and that the contract verification would be ready soon.
Lastly, Dhairya confirmed that plans are still in place to renounce the Bone contract, which should be done this week.
BONE is one of the governance tokens in the Shibarium ecosystem, with the team planning on adding more validators to the network. These validators can stake their BONE and earn rewards in return.
Shiba Inu L2 Records Another Milestone
Shibarium has reached another milestone with over 1 million wallets created on the network. This development comes just a week after the network relaunched. It crossed over 100,000 wallets a day after relaunch and has increased meteorically since then.
While congratulating the ShibArmy on this milestone, Dhairya also congratulated the community in advance as the network was close to hitting 1 million transactions. Over 959,000 transactions have been conducted on the network at the time of writing.
As for the SHIB price, the meme coin has succumbed to the bear market pressures, falling 1.04% in the last 24 hours to trade at $0.000007735. Its market cap sits at $4.5 billion, making it the 16th-largest crypto by market cap.
SHIB looks steady at $0.0000077 | Source: SHIBUSD on Tradingview.com
Featured image from Unsplash, chart from Tradingview.com