Team Denies Bridge Problems and Asset Losses on Shibarium Mainnet Launch

The Shibarium Mainnet Denies Reports of Bridge Problems and Asset Losses

The team behind the recently launched Shibarium mainnet has addressed concerns about bridge problems and asset losses. Shytoshi Kusama, co-founder of the Shiba Inu ecosystem, explained that the technical difficulties experienced on Shibarium were due to a surge in transactions and user activity. Despite allocating 400 million compute units per month, the project saw 160 million compute units in just 30 minutes after the launch. The team has been working to scale and handle the influx of traffic. Screenshots circulating on social media claiming asset losses were dismissed as false by Kusama. However, blockchain sleuth ZachXBT noted that the RPC, the node running the blockchain client software, was compromised. Shibarium uses proof-of-participation as its consensus mechanism, aiming to provide efficient and scalable transactions. The mainnet release followed extensive testing involving millions of users and the creation of 21 million wallets.

Key Points:

– Shibarium mainnet experienced technical difficulties due to a surge in transactions and user activity.
– The team had allocated 400 million compute units per month but received 160 million compute units in just 30 minutes after the launch.
– Screenshots suggesting asset losses were dismissed as false.
– The RPC, responsible for running the blockchain client software, was compromised.
– Shibarium uses proof-of-participation as its consensus mechanism and aims to offer efficient and scalable transactions.

Closing Thoughts:

Despite the challenges faced by Shibarium during its mainnet launch, the team remains committed to scaling and improving the network. The reports of bridge problems and asset losses were debunked as false by Shytoshi Kusama. As the project continues to develop, it will be interesting to see how Shibarium’s proof-of-participation consensus mechanism and its interaction with the Ethereum layer-1 blockchain contribute to more efficient and scalable transactions.