Shib Name Service launches on Shibarium to simplify and secure digital transactionsShiba Inu’s Layer-2 blockchain, Shibarium, has successfully restarted after a pause shortly following its launch due to a massive influx of users. The leader of Shiba Inu, known as Shytoshi Kusama, provided updates on the revival of Shibarium, revealing significant progress in scaling efforts.
The recent restart of the Layer-2 solution was described as “temporary testing,” and the team is now “scaling up in multiple ways, testing again, and making it public.”
The “incredible Alchemy team” scaled operations for Shibarium by 1,500%, working together with validators. The Unification Fund team also participated in putting Shibarium back on for testing. The SHIB team has employed the help of several DLT experts to create extra protocols to support and handle the expected traffic on Shibarium. The developers have started the next phase of restarting Shibarium, focusing on ensuring perfect security measures and deep testing on the blockchain.
Shibarium goes live but in private mode
Since Shibarium’s launch on mainnet on August 15, when it faced major issues, the price of the SHIB token dropped by 25.81%, losing all its August gains.
Shibarium’s launch was initially met with millions of “compute units” of traffic, causing it to go into fail-safe mode and pause to ensure funds were safe. The process of scaling its operations to support the massive influx of Shibarium users has been ongoing, with updates already published on the progress made in Shibarium scaling efforts.
Per recent update: Shibarium is live but in private mode, producing blocks as normal. Scaling and testing will continue, with plans to reopen the chain to the public soon. In another significant announcement, the “SHIB Paper,” detailing the essential tenets of Shiba Inu decentralization, was unveiled.
The successful restart of Shibarium marks a critical step in Shiba Inu’s development, reflecting the team’s commitment to overcoming challenges and scaling the platform to meet user demand.
The collaboration with the Alchemy team and other validators to scale operations by 1,500% demonstrates the potential for innovation and growth within the Shiba Inu ecosystem. The unveiling of the “SHIB Paper,” adds to the positive momentum for Shiba Inu, highlighting the community’s resilience and the ongoing efforts to enhance security, scalability, and decentralization.
At the time of press, SHIB trades at $0.000008406, declining by 0.80% in the last 24 hours.
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