Shibarium Explorer Receives New Update, Promising Improved Usability for Shiba Inu

• Blockscout’s recent update to Shibariumscan, the blockchain explorer for the Shiba Inu layer-2 network Shibarium, aims to improve usability and transparency.
• Shibarium continues to witness significant adoption, with over 408 million transactions per week and 1.375 million wallets.

Shibariumscan, the blockchain explorer for the Shiba Inu layer-2 network Shibarium, has received an exciting new update from Blockscout aimed at enhancing its usability.

Amidst growing adoption, Shibarium continues to attract attention, with Shibariumscan playing a crucial role in providing transparency regarding the blockchain’s metrics.

In its latest development, Blockscout, the open-source blockchain explorer and analytics platform for Ethereum-based networks, announced an exciting new feature for Shibariumscan to further enhance transparency.

For those unfamiliar, Blockscout allows users to explore transactions, addresses, and smart contracts on various Ethereum-compatible blockchains. It powers both Puppyscan, the Shibarium testnet explorer, and Shibariumscan, the Shibarium mainnet explorer. The recent update to Shibariumscan is part of several upgrades introduced by the platform.

Tracking the Movement of Funds

The update introduces the L1 <-> L2 window, enabling network participants to track fund movements between the Ethereum layer-1 network and the Shibarium layer-2 network.

Exciting updates have landed on Shibariumscan!

The new L1 <-> L2 views for @ShibariumNet significantly enhance the usability of the explorer and provide deeper insights for all developers and users of #Shibarium.

Check it out now at https://t.co/aqrLbx9Wd8 pic.twitter.com/Bm8OBdyCeD

— Blockscout (@blockscoutcom) March 14, 2024

A key component of this update is the “Deposits (L1 -> L2)” tab, which showcases transactions where users bridge their tokens from Ethereum layer-1 to Shibarium. Each bridge transaction generates separate transaction hashes in Ethereum (L1) and Shibarium (L2), both of which are displayed on Shibariumscan. To date, users have executed 27,847 deposits since Shibarium’s launch.

Additionally, the update includes the “Withdrawals (L2 -> L1)” tab, detailing transactions involving the movement of assets from Shibarium (L2) back to Ethereum (L1). Similar to the Deposits tab, this section displays transaction hashes on both Shibarium and Ethereum.

According to Shibariumscan data, users have conducted 6,816 withdrawals from Shibarium to Ethereum. This discrepancy indicates that deposits significantly outnumber withdrawals by over 20,000, suggesting that a majority of users who bridge their assets to Shibarium have opted to retain them on the L2 network.

In the latest discussion about the recent Shibariumscan update, Kaal Dhairya, a well-known Shibarium developer, underscored the importance of Blockscout as a valuable partner. Dhairya emphasized Blockscout’s ongoing commitment to implementing innovative features on their platform, which enhances the visibility of Shibarium. He voiced his support for Blockscout, encouraging both emerging and established blockchains to take advantage of their services.

I don't talk enough about Blockscout, but one of our strongest partners who have consistently pushed out amazing new features to their stack and enhanced visibility into #Shibarium and have a solid product! Highly recommend all new and existing blockchains to use them. https://t.co/TloDgCwcgy

— Kaal (@kaaldhairya) March 14, 2024

Shibarium Hits New Milestones

As reported by Crypto News Flash, the Shibarium network continues to hit new milestones. In the meantime, according to Shibariumscan data, adoption of Shibarium has continued to surge. The network has now surpassed 408 million transactions per week, just after crossing the 400 million milestone. Additionally, the number of wallets has surged to 1.375 million, while the Total Value Locked (TVL) has recently reached a new all-time high (ATH).