Crypto
Shiba Inu Testnet Transactions Spike: What’s Happening Behind the Scenes?
courtesy of bitcoinist.com
Developers Working on Something Big
The developers of Shiba Inu, the popular cryptocurrency, have been hinting at a major development. While they haven't revealed the details yet, recent activity on the Shibarium testnet suggests something significant is underway.
Sudden Surge in Transactions
According to Shiba Inu Telegram admin Ragnar Shib, the Shibarium testnet has seen a sudden surge in transactions. A screenshot shared by Ragnar shows over 412,000 transactions taking place on the testnet in a single day.
Puppynet Blockchain Explorer Provides Clues
A closer analysis of the blockchain explorer data reveals more details. After weeks of no transactions, the number of transactions on the Shibarium testnet skyrocketed. The number of active accounts also jumped to 360,522, indicating increased activity by developers.
Transaction Costs and Block Size Increase
Interestingly, the transaction costs on the testnet rose significantly, reaching 17.393 BONE. However, despite the high number of transactions, the "transaction success rate" remained at 0. Additionally, the average block size in bytes also saw a rapid increase.
What Could These Developments Mean?
The Shiba Inu community is now speculating about the possible reasons behind these developments. One theory gaining traction is the upcoming launch of ShibaSwap 2.0, a decentralized exchange (DEX) that is rumored to find a home in Shibarium.
ShibaSwap 2.0: A Comprehensive Platform
ShibaSwap 2.0 is expected to be a comprehensive platform that goes beyond the limitations of a traditional decentralized exchange. While details have been scarce, the recent surge in testnet activity could be a sign of progress towards the migration to Shibarium.
At the time of writing, the SHIB price stands at $0.00000823.
courtesy of bitcoinist.com
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