Shibarium: Memecoin Shiba Inu’s New Scaling Solution Performing Well Despite Massive Influx of Users
The lead developer of memecoin Shiba Inu (SHIB) says that the project’s new layer-2 scaling solution Shibarium is doing just fine after experiencing a „massive influx“ of users.
In a recent blog post, the pseudonymous head of Shiba Inu, developer Shytoshi Kusama, stated that Shibarium is operating smoothly after being overwhelmed by users and transactions following its official launch earlier this week.
However, Kusama acknowledged that SHIB did encounter some technical difficulties due to the high number of transactions occurring on the platform:
„Our technical difficulty is not an issue of Shibarium, but instead, from the MASSIVE influx of transactions and users that happened at the same time when we announced that Shibarium is live. Our team has been working tirelessly to scale (even though validators were already on autoscale when we made the announcement) and bring up the chain again to an extent that we can handle the influx of our decentralized nation-state.“
Despite the challenges, Kusama revealed that Shibarium handled over 160 million compute units in about 30 minutes, which is comparable to most other active layer-2 blockchains.
To put this into perspective, Kusama provided an example of the intensity of traffic experienced by Shibarium:
„To give an example of the insane level of traffic we just experienced, let’s look at one analytic provided by one service we used to check everything, Alchemy. On the enterprise plan, we have with Alchemy; we are allotted 400 Million compute units a MONTH. At launch, we experienced 160+ Million compute units in approximately 30 minutes. If we continue at that rate, we are expected to reach billions of compute units in a day, on par with the most active layer-2 blockchains that exist. Although we expected a very busy moment, we never expected THIS much traffic, instantly.“
Furthermore, the lead developer previously teased the launch of Shibarium and also announced plans to integrate Self-Sovereign Identity (SSI), or blockchain-based digital identities similar to passports, into all Shiba Inu projects.
As of now, Shiba Inu is trading at $0.000009 per coin, representing a 10.6% decrease in the last 24 hours.
Frequently Asked Questions (FAQs)
What is Shibarium?
Shibarium is the new layer-2 scaling solution developed by Shiba Inu (SHIB) to handle the large number of transactions and users on its platform.
Did Shibarium experience any technical difficulties?
Yes, Shibarium faced technical difficulties due to the massive influx of transactions and users after its launch. However, the issues were not related to the Shibarium itself but rather the overwhelming traffic.
How many compute units did Shibarium handle?
Shibarium handled over 160 million compute units in about 30 minutes, which is comparable to other active layer-2 blockchains.
What are the future plans for Shiba Inu?
Shiba Inu has plans to integrate Self-Sovereign Identity (SSI), or blockchain-based digital identities, into all its projects, including Shibarium.
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