Bitstamp Spotlights Shiba Inu’s Resurgence with Plans for Shibarium’s Public Relaunch Following Initial Setback
In a remarkable revelation, prominent cryptocurrency exchange Bitstamp has thrust a crucial development related to Shiba Inu into the limelight, ranking it among the most significant weekly crypto trends. A tweet from Bitstamp yesterday brought attention to the ongoing efforts of the Shiba Inu team to reintroduce Shibarium for public utilization following a technical setback encountered by the blockchain project.
Eclipsing all other crypto discussions this week, Bitstamp’s focus on Shibarium’s imminent revival has captured the industry’s attention. Apart from the impending relaunch of Shibarium, Bitstamp underscored two other noteworthy updates in the crypto sphere. These encompassed the prevalence of ordinals in maximizing Bitcoin transactions despite minimal fees and the introduction of a novel feature for the Phantom Wallet.
Bitstamp Clarifies Shibarium Relaunch Amidst Technical Setback
Bitstamp bolstered their tweet’s transparency with a brief video elucidating these trends. The crypto realm actively engages in vigorous conversations about Shibarium’s resurgence, warranting keen notice. Shiba Inu’s momentous launch of the anticipated L2 blockchain on August 16 encountered a setback as the network rapidly triggered a fail-safe mode, attributed to an unexpected surge in user engagement, leading to over 160 million compute units clocked in less than an hour.
Further complicating matters, a single block harbored thousands of regular and contract transactions. To redress this issue, the team embarked on a comprehensive network expansion. Progress has been made, accompanied by the implementation of novel safeguards to avert future recurrences.
Intriguingly, Shibarium has been reactivated privately while the team diligently monitors its performance. Simultaneously, the wheels are in motion for a public unveiling of Shibarium. Even in this private phase, Shibarium has amassed commendable statistics. At the latest count, a remarkable 54,101 wallet addresses have engaged with the network, as per Shibariumscan’s data.
A mere day prior, this number stood at 48,868, signaling a rapid surge of 5,233 wallet addresses engaging with Shibarium within a day. Moreover, the total transaction tally has reached an impressive 255,798, coinciding with the production of approximately 296,054 total blocks.
Bitstamp’s discerning spotlight on Shibarium’s revival underscores the crypto world’s eagerness to witness its triumphant return to the public arena. The future of Shiba Inu’s blockchain endeavor now hangs in the balance as the network undergoes meticulous scrutiny before its anticipated grand unveiling.