Ethereum

Bone

Bone ShibaSwap

Polygon

<ul> 
 <li><strong>Shibarium, Shiba Inu’s Ethereum layer 2, conquered initial launch’s glitches and doubts</strong></li> 
 <li><strong>Shibarium has more than 66,797 wallets and processed 363,219 transactions.</strong></li> 
</ul> 
<p>Shiba Inu’s Ethereum layer 2 solution, Shibarium, has been relaunched after an initial public release marred by technical glitches and widespread FUD. After its <a href="https://thenewscrypto.com/puppynet-hits-new-highs-as-shibarium-team-focuses-on-scaling/" target="_blank" rel="noopener noreferrer nofollow">initial launch</a> on August 16th, the project has successfully overcome its initial obstacles, with the network now demonstrating impressive growth and potential.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full"> 
  <img decoding="async" width="792" height="329" src="https://thenewscrypto.com/wp-content/uploads/2023/08/shibbbb.png" alt="" class="wp-image-81306" srcset="https://thenewscrypto.com/wp-content/uploads/2023/08/shibbbb.png 792w, https://thenewscrypto.com/wp-content/uploads/2023/08/shibbbb-300x125.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/08/shibbbb-768x319.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/08/shibbbb-150x62.png 150w" sizes="(max-width: 792px) 100vw, 792px"> 
  <figcaption class="wp-element-caption">
    (Source: <a href="https://www.shibariumscan.io/" target="_blank" rel="noopener noreferrer nofollow">Shibariumscan</a>) 
  </figcaption> 
 </figure> 
</div> 
<p>The initial launch of Shibarium was met with a mix of excitement and skepticism. The open-source version of Blockscout, which Shibarium employs as its blockchain explorer, faced technical errors and backlash from the crypto community. Furthermore, the absence of massive servers for support raised concerns about its stability and scalability.</p> 
<h2 class="wp-block-heading" id="h-shibarium-network-reaction">Shibarium Network Reaction</h2> 
<p>Following its launch on August 16, Shibarium has grabbed <a href="https://thenewscrypto.com/crypto-news-shibarium-launch-today-how-will-shiba-inu-shib-react/" target="_blank" rel="noopener noreferrer nofollow">huge attention</a> from the community. According to Shibariumscan, the network’s monitoring tool, the average block time was a mere 5 seconds. Interestingly, due to the increase in total transactions, there was a notable dip in the daily transaction graph, sparking curiosity within the crypto community.</p> 
<p>However, despite the initial setback, the team persevered (preserved what?). Prior to the relaunch, Shibarium managed to amass a user base of over 65,000 wallets and 350,000 transactions. These figures provided a solid foundation upon which the project aimed to build its renewed success.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" width="1024" height="211" src="https://thenewscrypto.com/wp-content/uploads/2023/08/Shibarium-Transaction-1024x211.png" alt="" class="wp-image-81307" srcset="https://thenewscrypto.com/wp-content/uploads/2023/08/Shibarium-Transaction-1024x211.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/08/Shibarium-Transaction-300x62.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/08/Shibarium-Transaction-768x158.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/08/Shibarium-Transaction-150x31.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/08/Shibarium-Transaction.png 1279w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Shibarium Network Activity (<a href="https://www.shibariumscan.io/" target="_blank" rel="noopener noreferrer nofollow">Shibariumscan</a>) 
  </figcaption> 
 </figure> 
</div> 
<p>Upon the reactivation of the explorer, Shibarium had <a href="https://thenewscrypto.com/shiba-inu-shib-achieves-major-adoption-milestone/" target="_blank" rel="noopener noreferrer nofollow">achieved</a> an even more substantial milestone. At the time of writing, the number of wallets on Shibarium has surged to an impressive 66,797. That is accompanied by an impressive 363,219 total transactions.</p> 
<p>In a statement addressing the challenges faced during the initial launch and the subsequent success of the relaunch, the Shibarium team extended their gratitude to the Polygon team. The Polygon team’s prompt response and assistance were pivotal in turning the situation around.&nbsp;</p> 
<p>According to CoinMarketCap, Shibarium’s native token Bone ShibaSwap (BONE) experienced a 2.72% decline in the past 24 hours, trading at $1.34. Still its daily trading volume surged by 40% to reach $11 million.</p> 
<p>Share your thoughts on Shibarium’s sustainability by tweeting us at @The_NewsCrypto.</p> 
<p><strong>Recommended for you</strong></p> 
<p><a href="https://thenewscrypto.com/bone-shibaswap-bone-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bone Shibaswap (BONE) Price Prediction 2023</a></p>

SHIB’s Shibarium Overcomes Glitches and Relaunches

Table of Contents

TheNewsCrypto

Other articles published on Aug 28, 2023

On-Chain Data Shows Friend.Tech’s Hype Was Short Lived

DeFi Staking Platforms | For 2023

Robinhood emerges as third-largest Bitcoin holder with over $3 billion in BTC

Pepe and Cardano (ADA) Pairs Set to Exit Binance Liquid Swap

Data SWIFT: Dominasi Dolar Masih Tinggi

SEC says NFTs are securities in landmark case

Join our free newsletter for daily crypto updates!