Sandeep Nailwal, a co-founder of Polygon Labs, assisted in fixing the bridge, according to Shytoshi Kusama, co-founder of the SHIB coin.
Shibarium, the innovative layer-2 blockchain designed for Shiba Inu (SHIB), has achieved an impressive feat, crossing the threshold of 100,000 wallets within its platform. Astonishingly, a staggering 35,000 wallets were added in a mere 24 hours following the relaunch of Shibarium on August 28.
Shibarium’s Return and Flourish
The mastermind behind Shiba Inu, Shytoshi Kusama, confirmed the triumphant revival of Shibarium in an illuminating blog post on the same date. In the initial revelation, Kusama highlighted the count of 65,000 wallets and a substantial 350,000 transactions. However, since then, these numbers have experienced a meteoric ascent of 55.8% and 20.2% respectively, according to Shiariumscan.io.
As the dust settles, Shibarium’s block explorer now showcases a staggering 101,277 wallets facilitating a remarkable 420,897 transactions across 344,614 blocks. Impressively, this thriving ecosystem operates at an average block time of a mere 5 seconds.
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Related: Shiba Inu's Shibarium Layer-2 Network Nearing Public Launch
In a statement, Kusama reassured the community, stating that the relaunch serves as a testament to the security of funds all along. Furthermore, Kusama extended gratitude towards Sandeep Nailwal, the co-founder of Polygon Labs, for his instrumental role in aiding Shibarium’s resurgence:
“When the incident arose, I reached out directly to Sandeep from Polygon, and without hesitation, he provided additional resources that contributed to a seamless resolution. This is why our decision to pivot and incorporate Polygon was a decision well made.”
Shibarium’s Impact on SHIB’s Price
The reinvigoration of Shibarium has not gone unnoticed in the market, leaving a positive imprint on the price of SHIB. The cryptocurrency witnessed an uplift of 3.6%, climbing to $0.00000825 over the past 24 hours, as per Coinmarketcap’s data.
However, it is essential to note that despite this encouraging trajectory, SHIB remains 14.3% lower than its value of $0.00000963 at the time of the disruptive outage. The outage was attributed to a “MASSIVE influx of transitions and users” upon its initial launch, eventually triggering the system to go into fail-safe mode due to the overwhelming activity.
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In response to this setback, the Shibarium team exhibited resilience by bolstering the server infrastructure by a staggering 1500%, a strategic move to combat on-chain congestion and optimize performance.
Spearheading the realm of Ethereum layer-2 networks, Shibarium stands as an embodiment of innovation, with SHIB playing a pivotal role in managing gas fees. This visionary project focuses on fostering the development of gaming and metaverse applications, propelling the crypto landscape into a realm of boundless possibilities.
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