The Shibarium website is currently active, although in private mode. As previously mentioned, the rise of new addresses for both Shiba Inu and BONE indicates that the new blockchain has drawn new users. In light of this, Lucie of the Shiba Inu team posted an informative article on the X platform, formerly known as Twitter.
Despite her pledge to do so via a video, Lucie instead posted a snapshot of SHIB creator Kaal Dhairya’s explanation of the Shibarium bridge.
Withdrawals for BONE can take up to seven days to complete, but those for ETH, SHIB, and LEASH can be processed within a few hours at the bridge, according to Dhairya, who provides an overview of the Shibarium blockchain. He continues by saying that both the NFT and this are intentional.
The next queue shows BONE withdrawal may not occur before September 1st, according to the contract, the SHIB developer noted.
BONE is used as the main token for staking and paying petrol costs for Shibarium transactions.
It is not possible to send money straight from Layer 2 Shibarium to a Layer 1 Ethereum address, according to the Shibarium documentation. Before moving money from Layer 2 Shibarium to Layer 1 Ethereum, users must first withdraw it from their wallet.
Depending on the withdrawal technique, this time frame might last a few hours or as long as seven days.
In late July, the public testing of the Shibarium beta bridge, which provides a bidirectional transaction environment between Shibarium and Ethereum, began.
Shibarium hits big milestone
The Layer 2 blockchain has advanced as the community excitedly awaits the formal news of Shibarium being made available to the general public.
Shibarium has recorded a total of 325,762 transactions, according to Shibariumscan. The Layer 2 blockchain presently has 62,254 wallet addresses, which is a considerable increase.
Currently, there are 315,228 blocks overall, with an average block duration of five seconds.
