- Shibarium, the layer-2 solution for Shiba Inu, faced a temporary outage due to networking problems among validators.
- Market reaction to the outage prompts speculation on its impact, amidst broader trends in cryptocurrency trading.
- Despite technical challenges, Shibarium continues to grow, with significant transaction volumes and increasing wallet creations.
Shibarium, the layer-2 blockchain solution developed for the Shiba Inu cryptocurrency, experienced a temporary outage, as confirmed by a post from developer Kaal Dhairya on the X social media platform. The disruption was attributed to networking problems among the network’s validators. Despite the quick recovery of the leading network, some components, such as Shibariumscam, a website monitoring network health, and certain external remote procedure calls (RPCs), remained affected while the team addressed external technical issues.
In response to the outage, Dhairya has urged external teams involved with Shibarium’s infrastructure to contact him to coordinate resolving the issues. This proactive communication underlines the team’s commitment to maintaining network stability and functionality.
Market Reaction to Shibarium Outage
Shiba Inu’s (SHIB) price recorded a modest rise of 1% over the past 24 hours at press time. This price movement comes in the wake of the network outage. However, it remains unclear whether the decline was a direct result of the technical difficulties or a consequence of broader market trends, including possible profit-taking activities.
Since its launch in August of the previous year, Shibarium has faced technical stability challenges. Despite these issues, the network has achieved notable milestones, having processed over 400 million transactions and nearing 1.7 million wallet creations.
Read CRYPTONEWSLAND on google newsShibarium’s Ongoing Growth and User Adoption
The recent technical hiccup has not halted Shibarium’s overall growth. On April 15, the network boasted nearly a million transactions, although this number dropped significantly to just over 10,000 by April 21.
Furthermore, the growth of Shibarium can be seen in the increasing number of wallets, suggesting a widening user base and growing adoption within the cryptocurrency community. This expansion is a positive sign for the network’s resilience and ability to attract and retain users despite occasional technical difficulties.
Read Also
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.