Shibarium, a newly launched Ethereum layer-2 scale blockchain, recently ran into unforeseen technical challenges due to a sudden increase in user activity. Shytoshi Kusama, a prominent figure in the Shiba Inu ($SHIB) ecosystem, shedding light on the situation, to explain that Shibarium was inundated with a massive volume of traffic shortly after its introduction, quantified in “units of computation”.
In response to this overwhelming traffic, leading to a large number of contract creations and transactions in a single block, Shibarium’s system entered fail-safe mode. This precaution has been taken to ensure the safety and security of funds on the platform.
According to data shared by the Shibarium team, the platform had reserved a monthly allocation of 400 million compute units. Remarkably, almost half of this was consumed in just 30 minutes after launch. While the team braced for a bustling start, the instant traffic volume exceeded their predictions. Consequently, they have made efforts to scale the platform to accommodate the burgeoning user base and requirements of their “decentralized nation-state”.
The crypto community’s concerns were further fueled by alleged internal communications between Shibarium developers pointing to potential complications with assets being transferred to the Shibarium network. Addressing these concerns, Kusama underlined the safety of the funds and highlighted, as proof of their commitment, an insurance provision covering up to $2 million to protect against potential issues when Shibarium resumes operations.
This platform delves deeper into the background of Shibarium and operates on an avant-garde proof-of-participation consensus mechanism. Here, validators are selected based on their holdings of cryptocurrency. This design was created to work seamlessly with the primary Ethereum layer-1 blockchain, aiming for more efficient and scalable transactions. Notably before its public debut, the platform underwent rigorous testing, involving millions of users and culminating in the creation of 21 million wallets.
In the wake of recent events, the Shibarium team is advocating for its community to pull information from official channels and remain vigilant for potential misinformation from unofficial channels.
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