Shiba Inu Aims for Shibarium’s Redevelopment After Botched Launch

Shiba Inu’s development team is diligently progressing towards the reestablishment of the Shibarium network, diligently assessing validator data and transaction performance in the aftermath of a highly anticipated network launch that was marred by technical complications and a malfunctioning bridge.

In an announcement early this Tuesday, the project’s primary developer, known as Shytoshi Kusama, shared that the network is on the brink of being reopened to the general public, boasting robust mechanisms designed to avert a recurrence of the prior outage.

“After conducting two days of rigorous tests and fine-tuning various parameters to achieve a state of readiness, Shibarium has undergone enhancements and optimizations,” Kusama reported. “Although still undergoing testing, it is actively producing blocks.”

“Furthermore, we have introduced an innovative monitoring system and implemented supplementary fail-safe measures, including rate limiting at the RPC level and an automatic server reset mechanism in the event of an influx of traffic similar to what occurred previously,” he added.

Shibarium operates as an Ethereum layer-2 solution that leverages SHIB tokens for fees, playing a pivotal role in Shiba Inu’s broader strategy to establish itself as a substantial blockchain project. The network is particularly centered around metaverse and gaming applications, while concurrently serving as a cost-effective settlement option for DeFi projects constructed atop its infrastructure.

The testing phase for Shibarium demonstrated noteworthy success, with millions of wallets participating and facilitating approximately 22 million transactions across a span of four months. However, the enthusiasm surrounding the recent launch was swiftly dampened. Transactions on the network were immobilized for over eleven hours shortly after its initiation, resulting in millions of dollars trapped on the bridge, the mechanism responsible for transferring tokens between distinct networks. This turmoil led to a 10% decline in SHIB prices during that period.

The developers’ response to the disruption emphasized that the bridge itself was not at fault; rather, the issue transpired due to an unprecedented influx of transactions from users. The substantial volume of transactions overloaded the servers, causing them to falter, as they were unable to accommodate the magnitude of incoming requests.

Subsequently, the network was temporarily shuttered to the public, with plans now underway to reopen it following the resolution of these glitches. Accordingly, developers have started granting validators – entities responsible for furnishing computational resources to process network transactions – the green light to initiate the preliminary steps toward the reopening.

“Tomorrow, an additional set of validators will be brought online, offering even more opportunities for users to stake BONE and partake in rewards,” Kusama stated in the Tuesday update. “Testing procedures will be finalized, paving the way for the network to be once again accessible to the general public.”

CoinGecko data indicates that SHIB prices have witnessed a decline of 4.3% in the past 24 hours.

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