Key Takeaways
- The Shibarium blockchain faced disruptions due to immense contract creation and transactions, leading to FUD among investors.
- Developers have introduced a new monitoring system, additional fail-safe, and measures to handle traffic surges to address the recent challenges.
- Despite setbacks, Shytoshi remains committed to decentralization and assures the crypto community of Shibarium’s potential comeback.
With uncertainty comes unease; little is different when it comes to blockchain space, and FUD (Fear, Uncertainty, and Doubt) are always lurking at the corners of every investor’s mind. As the lead developer of the Shiba INU (SIB) project, Shytoshi Kusama has revealed some insights as to how Shibarium Blockchain’s situation will be dealt with. Let’s see what he has to say.
FUD in the Blockchain Space
The recent buzz in the cryptocurrency and blockchain space was created when the Shibarium blockchain went into a fail-safe mode due to the immense amount of contract creation and transactions. Given the offset, the blockchain has been since trying and testing the parameters to advance it for users.
The blockchain is still currently being tested, but it is producing blocks. According to his latest update, the developers have created a new monitoring system along with an additional fail-safe. Another interesting feature that he mentioned was rate limiting at the RPC level and auto server reset in case a huge surge in traffic happens again.
What really happened?
When it comes to discussing the recent outrage, it is important to remember that Shibarium was expected to go big at the time of its launch. The setback it has faced is disappointing for users worldwide. The network stalled for eleven hours with $1.7M locked on ETH.
During this time, an unfortunate decline of 10% was seen for the SHIB token as well. Due to these reasons, there has been a wave of FUD around Shibarium. Since then, the developers have been responding to the network outrage with updates. According to some analysts, there was a problem with the ETH bridge recovery, but interestingly, Shytoshi has denied that. Instead, the issue has been attributed to an influx of transactions from users.
Given the unfortunate incident, it is no wonder that Shytoshi Kusama found it important to publicly debunk FUD related to Shibarium. He did that by talking about concrete evidence of achievements, like the fact that speculation about Shibarium’s failure never materialized.
Moreover, it is impressive how Shytoshi has showcased a robust sense of commitment to decentralization through comprehensive documentation. Decentralization is indeed a core component of blockchain projects and one of the core ethos of the cryptocurrency community.
With his vision for the Shibarium blockchain explained, all eyes are on the development potential. Users are keenly hoping for a comeback that will shake the crypto world, for the better.
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