The Relaunch of Shibarium: Progress and Updates
The Shiba Inu (SHIB) development team is actively working towards the relaunch of the Shibarium network. Here are the key points:
- The network has undergone testing and optimization, and it is now actively producing blocks.
- New monitoring systems and fail-safes have been implemented to ensure stability.
- FUD (Fear, Uncertainty, and Doubt) within the community has been addressed, with the developer emphasizing the project’s dedication and continuous development.
- Collaboration with protocols, individuals, and projects interested in working on Shibarium is welcomed.
- Conducting thorough research (DYOR) before engaging with any project or platform on Shibarium is crucial.
In the immediate future, more validators will be activated, preparations for the network’s public reintroduction are underway, and the implementation of the ShibPaper for governance and management is planned by the end of the year.
Shibarium: An Ethereum Layer-2 Network for the Metaverse and DeFi
Shibarium is an Ethereum layer-2 network that uses SHIB tokens for transaction fees. Here are the key points:
- Shibarium aims to cater to the metaverse and gaming sectors and provides an economical settlement solution for DeFi applications.
- During testing, millions of wallets engaged in approximately 22 million transactions over four months.
- The official launch encountered issues due to an overwhelming volume of user transactions, resulting in a temporary halt and a drop in SHIB prices.
- The identified issues have been addressed, and the team is preparing for a relaunch.
Current Trading Prices of SHIB and BONE
At the time of writing, SHIB and BONE are trading at around $0.00000800 (-1.2%) and $1.17 (-3%), respectively.
Hot Take
The relaunch of Shibarium is a significant step for the Shiba Inu project, as it strives to overcome initial challenges and establish itself as a notable blockchain project. With improved stability and a focus on the metaverse and DeFi sectors, Shibarium has the potential to attract users and contribute to the growth of the crypto ecosystem.
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