Shibarium, the Layer 2 cryptocurrency of Shiba Inu (SHIB), recently achieved a significant milestone by processing over 300 million transactions since the launch of the cryptocurrency. Earlier this month, Shibarium reached a peak of nearly 8 million daily transactions.

Shibarium is growing rapidly

Shibarium is a Layer 2 solution on the Ethereum (ETH) blockchain and is designed to create its own blockchain ecosystem for the Shiba Inu cryptocurrency. This expands the functionalities and capabilities of the network.

The aim is to execute faster and more cost-efficient transactions on the Shibarium network compared to the Ethereum blockchain. However, Shibarium still utilizes the security of the Ethereum blockchain.

The number of daily transactions on the network has decreased to approximately 2.7 million transactions on a daily basis since the aforementioned peak.