Shibarium Restart: A Solution Found for Layer 2 Protocol
After a bumpy launch, the Shibarium team is preparing to restart the Layer 2 protocol for the public with an additional fail-safe method. The protocol was forced to pause due to high traffic, but a solution has been found.
Key Points:
– Shibarium has restarted block production after a halt of over five days.
– The Layer 2 protocol is not yet open to the public.
– Lucie, Shibarium’s marketing strategist, assured users on Twitter that the protocol is live and running smoothly in private mode.
– The team is working to make it public and has confirmed that all funds are safe.
– In response to the panic caused by the halt, the Shibarium team denied reports of funds being stuck and announced a $2 million insurance scheme.
The sudden halt of Shibarium had a negative impact on the price of Shiba Inu (SHIB), which fell by over 20% on August 17. As of now, SHIB is trading at $0.00000817, down by 1.21% in the past 24 hours.
Hot Take:
The restart of Shibarium’s Layer 2 protocol brings relief to users and reassurance that their funds are safe. The team’s efforts to address the issues and implement additional fail-safe measures are commendable. However, the halt did have a negative impact on the price of SHIB, highlighting the volatility of the crypto market. It will be interesting to see how the restart progresses and if it can regain the trust of the community.
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