Shiba Inu’s new Layer-2 blockchain platform, Shibarium, has surpassed 100,000 wallets and attracted 35,000 wallets to the ecosystem within 24 hours after its relaunch on August 28th. The Shiba Inu team scaled their server infrastructure by 1500% to resolve congestion during the downtime and make the platform more manageable.
Nailwal’s Thanks to Kusama
Shytoshi Kusama, the lead developer and co-founder of Shiba Inu, confirmed Shibarium’s reactivation in a blog post dated August 28th. Kusama had shared Shibarium’s data of 350,000 transactions and 65,000 wallets, but according to the Shiba Coin Blockchain Explorer, there has been a 55.8% increase in total transactions and a 20.2% increase in the number of wallets. The blockchain explorer shows that Shibarium currently has 101,277 wallets with 420,897 transactions across 344,614 blocks, with an average block time of 5 seconds.
Kusama stated in his announcement that the relaunch proved that the funds were always secure. He also thanked Sandeep Nailwal, the co-founder of Polygon Labs, for assisting in the relaunch of Shibarium:
“Right after the incident started, I called Sandeep directly from Polygon, and he immediately provided additional resources to ensure that the situation ends perfectly. That’s why our decision to work with Polygon was the right one.”
What Happened in Shibarium?
According to CoinGecko data, Shibarium’s relaunch had a positive impact on the price of SHIB, which increased by 3.15% to $0.00000812 in the past 24 hours. However, the SHIB price is still down by 14.5% compared to its price of $0.00000963 during the Shibarium outage.
During the Shibarium outage, Kusama blamed the “massive transition and user flow” when it went live and later discovered a situation with “thousands of contracts and user transactions” in a single block, which caused Shibarium to enter safe mode. It is estimated that around $2.5 million in funds were stuck on the bridge at that time.
In the following days, the Shibarium team informed users that they had scaled their server infrastructure by 1500% to better manage congestion on the chain. Shibarium is presented to users as an Ethereum Layer-2 network that uses SHIB for gas fees. The project focuses on creating gaming and metaverse applications on the platform.
