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Shiba Inu’s Layer-2 blockchain network Shibarium has resumed block production after a temporary pause that lasted for about a day. The Shibarium network temporarily halted block production due to the high traffic experienced shortly after its launch, but with the measures taken by the team, it has now resumed block production.
Shibarium Starts Block Production
According to Shibariumscan block explorer, Shiba Inu’s Layer-2 blockchain network Shibarium has been reactivated and is producing blocks. The Shibarium network entered a fault safety mode to protect funds due to unexpectedly high traffic after the mainnet launch, causing a temporary halt in transactions.
Lead developer Shytoshi Kusama confirmed that the high blockchain network traffic caused certain challenges but assured that fund security was not compromised. He claimed that both the bridge and the network were functioning smoothly and that Shibarium was ready to be quickly relaunched.
Shiba Inu developer Kaal Dhairya outlined their plans to scale operations to meet the significant traffic in Shibarium in an official blog post dated August 18. The team also stated that they would provide regular updates on the status of the Shibarium network, which is a fork of Polygon.
“In fact, we carefully investigated and found thousands of contracts created in a single block and normal transactions.
Furthermore, the Shiba Inu project chose to provide $2 million worth of insurance coverage to address potential fund recovery challenges following the relaunch of Shibarium. With this announcement, the team continued its careful monitoring while block production resumed on the network.
Investors Start Buying SHIB Again
Despite concerns within the ShibArmy community about the spread of fear, uncertainty, and doubt (FUD) that negatively affected the project, community members remain optimistic and supportive of the network’s efforts to resume operations after the transaction pause.
During this period, both institutional and individual investors sold off SHIB, BONE, and LEASH tokens, which are significant assets in the Shiba Inu ecosystem. Despite the spread of FUD, investors significantly reduced their holdings. However, even in the face of a broader crypto market sell-off, prices are recovering following the reactivation of Shibarium.
Yesterday, the value of SHIB dropped by 11% to $0.0000082. In the past 24 hours, it fluctuated between a low of $0.0000076 and a high of $0.0000093. Meanwhile, BONE’s price decreased by 15% to $1.18, and LEASH is currently at $430, indicating a 5% decrease during the same time period.
