Relaunch of Shibarium leads to a new record
Relaunch of Shibarium leads to a new record
Following the relaunch of the new Level-2 blockchain for Shiba Inu on August 28, the number of Shibarium wallets increased by 35,000 in 24 hours, bringing the number of wallets on the platform to over 100,000.
Shiba Inu's lead developer, Shitoshi Kusama, confirmed on August 28 that Shibarium was back up and running.
Kusama said at the time that Shibarium had 65,000 wallets and 350,000 transactions. It's worth noting that in the 24 hours since then, those numbers have grown significantly, increasing by 55.8% and 20.2%, respectively.
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It is also known that 101,277 wallets have already performed 420,897 transactions in 344,614 blocks, and the average block time was 5 seconds, according to Cointelegraph.
The 35% increase in the number of wallet addresses to 100,000 has occurred in such a short period of time since Shibarium reopened.
Developer Shitoshi Kusama confirmed that the relaunch of the network proves that users' funds are always safe.
However, the price of SHIB tokens is still 14.3% lower than it was before the outage.
Shitoshi Kusama said the failure was due to a massive influx of conversions and users during the launch and later said it was revealed that thousands of contracts and normal transactions were in the same block, causing the system to crash. Analysts noted that approximately $2.5 million USD was stuck on the bridge at the time.
The Shiba Inu token, SHIB, is currently worth $0.00000812, up 2.2 percent from its price on August 28.
Also read: Bitcoin at $10,000 will still retain its appeal.
