Shiba Inu’s Shibarium Resumes Block Production After Brief Halt

Shiba Inu’s second stratum The Shibarium network has resumed block production after an almost 24-hour transaction halt.

Shiba Inu’s layer-2 blockchain, Shibarium, has been reactivated and is producing blocks, according to Shibariumscan.io’s block explorer.

After the inauguration of the mainnet, the Shibarium network entered fail-safe mode and halted operations to protect funds from unexpectedly high traffic.

Developer-in-chief Shytoshi Kusama confirmed that increased blockchain traffic resulted in certain obstacles, stating that fund security remains uncompromised.

He affirmed that both the bridge and the chain are operating normally and that Shibarium is prepared for an immediate restart.

Screenshot of restarted block production. Source: Shibariumscan.io

In a blog post dated August 18th, Shiba Inu developer Kaal Dhairya enumerated plans to scale Shibarium’s operations to accommodate heavy traffic.

“In fact, as we slowly and carefully investigated where the problem exactly took place and found thousands upon thousands of contract creation and normal transactions IN ONE BLOCK.”

In addition, the team will provide periodic updates on the status of the Shibarium network, a branch of Polygon, he said. In addition, the Shiba Inu initiative has chosen to purchase a $2 million insurance policy to address potential fund retrieval issues upon the relaunch of Shibarium.

Following this announcement, network block production resumed under the team’s vigilant supervision. Nonetheless, the ShibArmy community is concerned about the negative effects of spreading fear, uncertainty, and doubt (FUD) on the initiative.

Community members are optimistic and supportive of the network’s efforts to address the transaction pause. Large holders and speculators have sold their Shiba Inu, Bone, and Leash tokens in response to the spread of fear, uncertainty, and doubt (FUD).

Despite this, prices are increasing following the reactivation of Shibarium, despite a general crypto market decline. The current value of SHIB, $0.0000082, reflects a decline of 11% over the past day.

In the preceding twenty-four hours, its price fluctuated between $0.0000076 and $0.0000093. Simultaneously, the price of bone has decreased by 15%, settling at $1.18, while the price of leash has dropped by 5%, to $430.