CDS Crypto News Shibarium Resumes Block Production, SHIB, And BONE See Recovery
Crypto News

Shibarium Resumes Block Production, SHIB, And BONE See Recovery

After a nearly day-long hiatus in transactions, Shiba Inu's Layer-2 Shibarium network has successfully reestablished its online presence and resumed block production.

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Shibarium Resumes Block Production, SHIB, And BONE See Recovery

Crypto News– Shiba Inu’s Layer-2 Shibarium network has successfully resumed its block production after experiencing a brief interruption of nearly a day due to elevated transaction volumes.

Shibarium Resumes Block Production, SHIB, And BONE See Recovery

The lead developer, Shytoshi Kusama, confirmed that the blockchain faced some challenges caused by unusually high traffic, but he assured users that their funds remained secure throughout the incident. Importantly, neither the bridge nor the chain suffered any issues, and Shibarium’s operations are now back on track.

The Return of Block Production in Shibarium

As observed on the Shibariumscan.io block explorer, Shiba Inu’s layer-2 blockchain, Shibarium, has been restored and is actively producing new blocks. The network automatically entered a fail-safe mode to safeguard user funds when the traffic on the Shibarium mainnet surged beyond expectations. Kaal Dhairya, a developer from the Shiba Inu team, shared insights in an official blog post on August 18, discussing the team’s efforts to enhance scalability and accommodate the surge in traffic on Shibarium. Continuous updates about the regulatory status and network condition will be provided to users, reinforcing transparency.

Notably, the Shiba Inu project has taken additional precautions by securing insurance coverage amounting to $2 million, ensuring funds’ retrievability in the event of any potential challenges following Shibarium‘s restart. Subsequent to this announcement, the network has resumed block production while the development team closely monitors its performance.

In the midst of these developments, some members of the ShibArmy community expressed concerns about fear, uncertainty, and doubt (FUD) circulating around the project. This external negativity led to a sell-off by certain whales and traders who divested their holdings of SHIB, BONE, and LEASH tokens. However, despite this temporary setback and the broader downward trend in the cryptocurrency market, Shibarium’s restoration has contributed to a recovery in prices.

Shibarium Resumes Block Production, SHIB, And BONE See Recovery
Sources:coingape

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