Key takeaways
Shiba Inu’s Shibarium to reopen soon
Shiba Inu developers are currently working to reopen the Shibarium network to the general public. This is according to the project’s key developer, who goes by Shytoshi Kusama, earlier today.
In the blog post, Kusama said the developers are monitoring validator data and transactions days after the Shibarium launch was marred by a faulty bridge and transaction issues.
Kusama added that Shibarium was almost ready to reopen to the public, and the team has put in place mechanisms to prevent an outage similar to what was experienced last week. Kusama said;
“After two days of testing and tweaking parameters to achieve a “ready” state, Shibarium is now enhanced and optimized. As mentioned, it is still in testing but producing blocks. Moreover, we have enabled a new monitoring system and additional fail-safes, including rate limiting at the RPC level and auto server reset in case we get a huge level of traffic again.”
Shiba Inu’s Shibarium is an Ethereum layer-2 network that utilises SHIB tokens are fees. The launch of Shibarium is set to strengthen Shiba Inu’s position as one of the leading blockchain projects in the world.
Shibarium to focus on metaverse and gaming applications
The Shibarium blockchain is expected to focus heavily on metaverse and gaming applications while also making it cheaper for DeFi platforms to be built atop it.
Prior to last week’s launch, Shibarium underwent a testing phase that was very successful. Millions of wallets participated in the testnet and carried out over 2 million transactions over a four-month period.
However, last week’s launch was flawed due to bridging issues. Transactions on the network were stalled for hours after the blockchain went live, with millions of dollars stuck on a bridge.
SHIB, the native token of Shiba Inu, has lost more than 20% of its value over the past seven days. At press time, the price of Shiba Inu stands at $0.00000798.
At the time, developers said there were no bridge issues, and the delays were caused due to an unprecedented mass influx of transactions from users.
The developers claimed that servers failed due to the massive number of transactions on the network.
