- Shibarium’s wallet count surpasses 100K post-relaunch, 35K added within 24 hours.
- Shytoshi Kusama confirms Shibarium’s revival with soaring user engagement.
- Kusama credits Sandeep Nailwal for pivotal role in Shibarium’s recovery.
In a remarkable turnaround, Shibarium, a pioneering layer-2 blockchain for Shiba Inu (SHIB), sees its wallet count soar past 100,000. Within 24 hours, the platform saw an astounding 35,000 wallets join its network since its recent relaunch on August 28.
Shiba Inu’s lead developer and co-founder, Shytoshi Kusama, confirmed the revival of Shibarium in a blog post on the same day. Kusama initially reported 65,000 wallets and 350,000 transactions. However, these figures have surged, marking an increase of 55.8% and 20.2%, respectively, as tracked by Shibariumscan.io.
According to Shibarium’s block explorer, the network now boasts 101,277 wallets, facilitating 420,897 transactions across 344,614 blocks. Impressively, the average block time stands at just 5 seconds.
Specifically, Kusama emphasized that the relaunch validates the safety of users’ funds and expressed gratitude to Sandeep Nailwal, co-founder of Polygon Labs, for his instrumental role in aiding Shibarium’s recovery:
“After the incident began, I called Sandeep from Polygon directly and without a second thought, he helped provide additional resources to ensure a perfect outcome to the situation. And that is why our pivot to fork Polygon was the correct one.”
This revitalization of Shibarium resonated in SHIB’s price, which climbed by 2.5% to reach $0.00000815 over the last 24 hours, according to CoinGecko. However, SHIB’s value is still down by 15% compared to its price of $0.00000963 during the outage.
Kusama had attributed the initial disruption to an overwhelming influx of transactions and users. Thousands of contract creations and transactions within a single block had pushed the system into a fail-safe mode.
In response, the Shibarium team increased the server infrastructure by a staggering 1500% to manage on-chain congestion more effectively. This Ethereum layer-2 network employs SHIB for gas fees and focuses on building gaming and metaverse applications.
As the bridge restoration brings renewed momentum to SHIB, the crypto community eagerly awaits further developments in the evolving landscape.
