Sat, September 23

SHIB’s Shibarium Overcomes Glitches and Relaunches

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Shibarium Activity Surges as Validators Join Network Editors News
  • Shibarium, Shiba Inu’s Ethereum layer 2, conquered initial launch’s glitches and doubts
  • Shibarium has more than 66,797 wallets and processed 363,219 transactions.

Shiba Inu’s Ethereum layer 2 solution, Shibarium, has been relaunched after an initial public release marred by technical glitches and widespread FUD. After its initial launch on August 16th, the project has successfully overcome its initial obstacles, with the network now demonstrating impressive growth and potential.

(Source: Shibariumscan)

The initial launch of Shibarium was met with a mix of excitement and skepticism. The open-source version of Blockscout, which Shibarium employs as its blockchain explorer, faced technical errors and backlash from the crypto community. Furthermore, the absence of massive servers for support raised concerns about its stability and scalability.

Shibarium Network Reaction

Following its launch on August 16, Shibarium has grabbed huge attention from the community. According to Shibariumscan, the network’s monitoring tool, the average block time was a mere 5 seconds. Interestingly, due to the increase in total transactions, there was a notable dip in the daily transaction graph, sparking curiosity within the crypto community.

However, despite the initial setback, the team persevered (preserved what?). Prior to the relaunch, Shibarium managed to amass a user base of over 65,000 wallets and 350,000 transactions. These figures provided a solid foundation upon which the project aimed to build its renewed success.

Shibarium Network Activity (Shibariumscan)

Upon the reactivation of the explorer, Shibarium had achieved an even more substantial milestone. At the time of writing, the number of wallets on Shibarium has surged to an impressive 66,797. That is accompanied by an impressive 363,219 total transactions.

In a statement addressing the challenges faced during the initial launch and the subsequent success of the relaunch, the Shibarium team extended their gratitude to the Polygon team. The Polygon team’s prompt response and assistance were pivotal in turning the situation around. 

According to CoinMarketCap, Shibarium’s native token Bone ShibaSwap (BONE) experienced a 2.72% decline in the past 24 hours, trading at $1.34. Still its daily trading volume surged by 40% to reach $11 million.

Share your thoughts on Shibarium’s sustainability by tweeting us at @The_NewsCrypto.

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A journalism graduate who is passionate about writing loves to dance and travel currently starts exploring blockchain technology.