Progress is underway in the field of blockchain technology, with the highly anticipated public launch of the Shibarium layer-2 version happening soon. The Shiba Inu team has announced that the platform is running smoothly and just needs to be made public.
The team behind Shibarium, an Ethereum layer-2 network, has indicated that the platform is currently live and in private mode, having functioned smoothly during its two-day test, and is on the verge of becoming available to the public.
The Shibarium team claimed in a recent blog post that funds remain safe, and users can look forward to a fresh experience when the platform becomes accessible to all. Those who have benefited from the update are already celebrating as bridged BONE tokens make their entry.
Things are going in the right direction ✨ https://t.co/yS8iqbz1ra— Daniel (@Pasaben101) August 24, 2023
The Shibarium community, known as Shib Army, has been commenting on X (formerly known as Twitter) in response to the development. The Shibarium team expressed its satisfaction with the progress, stating that the network has achieved a “ready” state after thorough testing and parameter adjustments. Although testing is ongoing, the team revealed that blocks are consistently being generated without issues.
The recent updates include added safety measures and a monitoring system. These enhancements involve implementing rate limitations at the remote procedure call (RPC) level and an automatic server reset mechanism. These improvements are intended to avert potential problems stemming from abrupt traffic surges, guaranteeing users a steady and dependable experience.
During its testing phase, the network garnered significant attention, with millions of wallets engaged in over 22 million transactions spanning four months. However, the initial launch encountered challenges. An overwhelming surge of activity overloaded the network, leading to a temporary halt in transactions for several hours. Consequently, millions of dollars were trapped on a bridge tool, causing a 10% decrease in the price of Shiba Inu (SHIB).
Subsequently, developers have addressed the issues and clarified that the servers were overwhelmed due to an unforeseen surge in transaction volume. The network’s team said it is now assured of the reopening’s success despite the initial challenges.
Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.