Shibarium, the exciting new layer-2 blockchain for Shiba Inu (SHIB), is making significant strides, surpassing 100,000 wallets on its platform, with an impressive 35,000 coming within 24 hours of Shibarium’s relaunch on Aug. 28. For those in the loop, Shibarium’s ecosystem has been a focus point, especially the remarkable jump in its wallet numbers after the relaunch. The ecosystem’s active lead developer and co-founder, Shytoshi Kusama, confirmed Shibarium was back on track after the relaunch. Shibarium’s block explorer indicates that over 420,897 transactions have been facilitated by 101,277 wallets across 344,614 blocks, with an average block time of 5 seconds.
While the relaunch was undoubtedly successful, Shibarium experienced some bumps on the road. At the time of its relaunch, Kusama acknowledged the “MASSIVE influx of transitions and users” triggered the platform to go into fail-safe mode. An overload of “thousands upon thousands of contract creation and normal transactions” in one block were stated to be the cause. It was estimated that about $2.5 million in funds got held up on the bridge then.
Contrarily, Kusama has reassured that funds are, and always were safe. The Shibarium team, following the hiccup, has asserted that they scaled the server infrastructure by 1500% to better manage congestion on-chain. Kusama also expressed gratitude towards Sandeep Nailwal, the co-founder of Polygon Labs, for providing technical support to Shibarium during the challenging times.
One may argue that there’s always room to improve in the world of cryptocurrencies, as the concept is still in its infancy. However, Shibarium holds potential, and the subsequent price increase of SHIB by 3.6% over the last 24 hours post-relaunch seemed to vindicate that potential. That said, SHIB’s price is still down by 14.3% from its price at the time of the outage.
In a nutshell, Shibarium presents a curious case of technological potential grappling with real-world implementation challenges. Its recent bump in wallet users contrasts with its previous hiccups. The overarching question that lingers is whether Shibarium can fully harness its technological potential to continue this growth while improving on the trouble spots. An amalgamation of enthusiastic development, genuine technical support, and a vibrant investing community primarily drive the Shibarium journey. One can only watch to see what this space will evolve into. Will the recent strides overshadow the prior hiccups, or will these hiccups further emerge as a sign of scaled-up operations? Only time will tell.
Source: Cointelegraph
