Shibarium Relaunch Back on Track After Brief Production Halt
Private Testing Phase Ensures Smooth Public Launch
After an unexpected pause last week, the highly anticipated layer-2 solution Shibarium is back online in an extensive private testing phase. Shytoshi Kusama, lead developer, confirmed that block production has resumed normally. Kusama emphasized the importance of optimal functionality before public release, indicating the team’s caution-first approach.
Surge in Traffic Overwhelmed Initial Launch
The initial Shibarium launch encountered some scaling issues. Block production halted briefly just last week. The most recent block on the mainnet was produced on Thursday.
A key challenge was the massive, unexpected influx of traffic immediately after launch. Over 160 million compute units were recorded in the first 30 minutes, with 1000 ETH and 600,000 BONE deposited in the first 15 minutes alone.
Capacity Increased by 1500% to Handle Traffic
Kusama stated that Shibarium’s capacity has since increased by 1500%. This dramatic scaling up alongside the team’s dedication has enthusiasts eagerly awaiting the public relaunch.
Price Volatility Reflects Launch and Hiccups
SHIB’s price has seen ripples from the launch events. A euphoric surge occurred around August 12th, with the price hitting a 4-month high. However, the temporary freeze saw prices plummet sharply below major moving average support levels.
What’s Next for SHIB?
With Shibarium restarting, SHIB could surge 37% to retest its peak. However, resistance remains around the 50% Fib level. If public launch goes smoothly, reduced fees and scaling could propel major gains.
Frequently Asked Questions
What is Shibarium?
Shibarium is a layer-2 solution designed to provide greater scalability and reduced fees for Shiba Inu. It aims to improve transaction speeds and throughput.
When will Shibarium relaunch publicly?
There is no set date for public relaunch yet. The team remains in private testing mode to ensure optimal functionality. Public release will likely occur once testing is complete.
How did the initial launch go?
The initial launch encountered issues with block production halting due to unexpectedly high traffic. Capacity has since increased substantially to handle higher volumes.
What contributed to the SHIB price volatility?
SHIB saw major price swings around the launch events. Surge around launch, sharp decline after freeze, and bounce back based on progress updates.
What is needed for a successful relaunch?
Careful testing and capacity upgrades will be key. Smoothing technical issues before public release will pave the way for a successful consumer rollout.
Bernie Grady is a technology and business journalist who writes about trending topics in the world of technology, entertainment, and business. She has a keen eye for spotting new trends and loves to share her insights with her readers. Bernie has been writing professionally for over 10 years and has experience covering a wide range of topics. When she’s not writing, she enjoys spending time with her family and friends.