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Shiba Inu Prepares for Shibarium's Public Relaunch Following Initial Launch Setback

Aug 22, 2023 at 01:38 pm

Following initial challenges attributed to high demand, the trial blocks within Shiba Inu's network have successfully resumed their regular processing.

The Shiba Inu development team is actively working towards the gradual recovery of the Shibarium network after its recent launch encountered technical difficulties and issues with an unreliable bridge. The project's lead developer, recognized as Shytoshi Kusama, revealed that the network is on the verge of being reopened to the public, and preventative measures have been enacted to avert future disruptions.

Kusama elaborated that through extensive testing and parameter adjustments, Shibarium's functionality has been improved and optimized. While still undergoing testing, the network is efficiently generating blocks. To forestall the recurrence of prior problems, additional safety measures have been introduced, including a new monitoring system, rate limiting at the RPC level, and automated server resets. These measures are geared towards managing high traffic levels effectively.

Shibarium operates as an Ethereum layer-2 network that leverages SHIB tokens for transaction fees. This aligns with Shiba Inu's broader strategy to establish itself as a notable contender in the blockchain realm, with a particular emphasis on metaverse and gaming applications. Furthermore, the network aims to provide a cost-effective settlement option for DeFi applications built atop it.

Initial testing of Shibarium demonstrated potential, attracting a significant number of wallets and facilitating around 22 million transactions over a four-month period. However, the network's launch encountered difficulties, with transactions grinding to a halt shortly after initiation, and a considerable amount of funds becoming trapped in a bridge. This situation resulted in a 10% drop in SHIB token prices during that period.

Developers clarified that the issue was unrelated to the bridge itself but arose from an unprecedented surge of transactions overwhelming the network's servers. Consequently, the network was temporarily closed to the public.

At present, with the identified issues reportedly addressed, developers are progressively permitting validators to resume their operations – these validators play a pivotal role in processing network transactions. Kusama shared intentions to introduce additional validators shortly, as testing approaches completion and plans for the network's public relaunch are being finalized.

In spite of these developments, SHIB token prices have seen a decline of 4.3% within the last 24 hours, as indicated by CoinGecko data.

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