Shibariumscan, a leading blockchain explorer specifically designed for the layer-2 protocol of the Shiba Inu (SHIB) network, has undergone a major update that significantly improves its functionality.

Widely used by both Shibarium users and analysts, this tool allows them to track transactions and thoroughly analyze the development of the layer-2 protocol.

The new update for Shibariumscan was announced by Blockscout, a developer of open-source blockchain explorers for projects built on the Ethereum (ETH) network, on social media platform

Insight into Transaction Flows

The recent update of Shibariumscan introduces an essential feature: the L1-L2 view. This innovation allows users to track transactions taking place between the layer-1 network (Ethereum) and the layer-2 protocol (Shibarium). This provides unique insight into the financial flows between the Ethereum mainnet and Shibarium, allowing users to observe how much money flows into or out of the popular layer-2 network.

Since Shiba Inu (SHIB) is built on the Ethereum network, this update provides analysts with valuable data on the amount of Shiba Inu coins moving into or leaving the Shibarium ecosystem. This significantly improves the understanding of the interaction between these two layers and provides a clearer picture of the dynamics within the Shiba Inu ecosystem.

New data shows growth in Shibarium

Shibariumscan reveals that more than 6,800 withdrawals have been made from Shibarium to the Ethereum network to date. On the other hand, more than 20,000 deposits have been made. These figures indicate that more capital is flowing into the layer-2 protocol than is being taken out, a positive signal that points to the continued growth of the network.

The developments implemented by Blockscout are warmly welcomed by the developers within the Shiba Inu network. SHIB developer Kaal Dhairya has expressed his enthusiasm the social media platform X about the new functionalities that not only improve the Shiba Inu ecosystem but also make it more user-friendly for users. This progress is an important milestone towards broader adoption of the network.

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