Shiba Inu’s Layer-2 Network Shibarium Set to Relaunch with New Features
After experiencing a setback during its launch, Shiba Inu’s Layer-2 network, Shibarium, is preparing to relaunch with improvements and additional features. The network underwent testing and tweaking to enhance its performance and optimize its operations. A new monitoring system and fail-safe measures have been implemented to handle high levels of traffic and prevent future disruptions. The developers are now confident that Shibarium is almost ready to reopen to the public.
Key Points:
– Shibarium aims to establish itself as a significant player in the blockchain landscape, focusing on metaverse and gaming applications, as well as serving as a cost-effective settlement option for DeFi applications.
– The initial launch of Shibarium was marred by a lengthy period of halted transactions and approximately $1.7 million trapped on the Ethereum bridge.
– The network’s servers were overloaded due to a massive influx of transactions from users, causing the temporary closure of Shibarium to address the issue.
– The team has been working on ensuring perfect security measures and scaling the network for a successful relaunch.
– Additional validators will be joining the network, and the team will start implementing the ShibPaper, a comprehensive blueprint for the complete Shiba Inu project and its decentralized governance and management system.
Hot Take:
While the relaunch of Shibarium brings hope for improved performance and enhanced features, the setback during its initial launch has affected investor confidence, reflected in the significant drop in the value of the Shiba Inu token. It remains to be seen whether the network can regain momentum and establish itself as a successful player in the crypto space.
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