Shibarium Resumes Operation as Shiba Inu Team Highlights Issues and Plans Insuring User Funds

The Shiba Inu layer 2 scaling solution Shibarium has resumed operations after it shut down. A top Shiba Inu developer Kaal Dhairya revealed the first update on Shibarium scaling. According to a blog post on August 18, Dhairya stated that the SHIB team plans on securing users' funds paused in the bridge.

SHIB Team Investigates And Identifies The Issues On Shibarium ShutDown

In his explanation, Dhariya mentioned that Shibarium witnessed massive interactions on the platform at a time. Millions of computing traffic units were recorded on the platform within a few minutes. Subsequently, Shibarium entered a fail-safe mode as a protective measure over the overbearing condition.

Further, he mentioned that the Shibarium development team opened up an investigation and identified the cause of the issues. According to the team's discovery, thousands of smart contracts and standard transactions are in a single block by users.

Upon identifying the cause of the issue, the Shiba Inu team sourced assistance from other top blockchain developers. Also, Shibarium developers and the Unification team worked together with others to resolve the problems.

The top developer Dhairya promised to reveal all the parties cooperating in resolving the issue and Shibarium scaling.

Already Shibarim is up online and has resumed block production.

#Shibarium is working fine https://t.co/Qw3D8RDGaO

- $SHIB KNIGHT (@army_shiba) August 18, 2023

Source:X (Formerly Twitter)

The developer Addresses FUD And Assures The Safety Of Users' Funds

Also, the top developer, Dhairya, addressed the FUD (fear, uncertainty, and doubt) propagated by some opponents of Shiba Inu. Some critics spread rumors about the loss of funds regarding the Shibarium's forceful shutdown.

They shared a fake screenshot of Shiba Inu lead developer Shytoshi Kusama confirming the lost funds can't be recovered.

In his clarifications, Dhairya stated that the fake screenshot triggered more damage for the team. He felt embarrassed that some top news outlets would follow the fake post.

Further, Dhairya promised that they are working on the damage from the FUD and will contact the team supporting X (formerly Twitter) to identify the originator of the fake news and take necessary actions.

Regarding users' funds, Dhairya assured us that all paused funds on the Shibarium Bridge are safe. The top developer disclosed the Shiba Inu team is working on ensuring the cumulative paused funds on the platform are worth about $2 million.

He noted that the insurance of the paused funds creates a guarantee of compensating users in any case of uncertainty once Shibarium resumes operations. Also, Dhairya said he would share more updates on Shibariun scaling the next day.

On his part, Shiba Inu lead developer Kusama assured users that the Shibarium Bridge is utterly functional without issues. He mentioned that the technical challenge was triggered by a large influx of customers and not necessarily Shibarium per se.

He confirmed his statements with a share stat of Shibarium activities after a few hours of the network's launch. Kusama noted that Shibarium recorded more than 160 million compute units within 30 minutes. The value exceeded the team's expectation of 400 million per month from Alchemy. Also, within 15 minutes, users deposited about 600,000 BONE and 1,000 ETH coins on Shibarium.

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