Updates on Shibarium Scaling from Shiba Inu’s Lead Developer, Shytoshi Kusama – Will SHIB and BONE Prices Rise?
Shytoshi Kusama, the lead developer of Shiba Inu, shared the final update on Shibarium scaling. He announced the reopening of the L2 network to the public. Kusama thanked Polygon, Unification, and other developers for their support during the Shibarium mainnet issue. He confirmed that Shibarium is now active and functioning well.
Final Update on Shiba Inu’s Shibarium Scaling According to Shytoshi Kusama’s official blog on August 28, Shibarium has gained over 65,000 wallets and 350,000 transactions. The Shibarium mainnet has been generating blocks since August 24, as shown by Shibariumscan.io.
“I want to explain and express immense gratitude to the Polygon team. When the issue started, I contacted Sandeep from Polygon, and he swiftly provided additional resources for a successful solution. This is why our decision to align with Polygon was the right one.”
Funds and Bridge Update by Shytoshi Kusama
In terms of funds and the bridge, Shytoshi Kusama assured that the funds are secure (“safu”) and the bridge is functioning correctly. When withdrawing SHIB, LEASH, and WETH using the bridge, it usually takes 45 minutes to 3 hours, with at least 2 checkpoints. However, BONE withdrawal might require up to 7 days.
He cautioned the community to exercise caution when dealing with tokens built on Shibarium and recommended investing only after thorough research. Additionally, he provided specific details like the bridge address, RPC, and Chain ID of Shibarium.
Earlier, Shytoshi Kusama had announced a plan to increase Shibarium’s scale by 1500%, aiming to enhance security, stability, and decentralization. Furthermore, Shibarium now features a new monitoring system and extra safety measures, including rate limiting at the RPC level and an automated server reset.
Shiba Inu Ecosystem Tokens Experience Price Changes
After the reopening of the Shibarium mainnet to the public on August 24, BONE and LEASH tokens in the Shiba Inu ecosystem saw significant increases of over 15%.
Despite the Shibarium reopening, SHIB price has faced some downward pressure. It dropped 2% in the last 24 hours and is currently trading at $0.0000079. The lowest and highest prices in the past day were $0.00000792 and $0.00000815, respectively.
Meanwhile, BONE’s price is at $1.33, showing a 3% decrease in the last 24 hours after a recent recovery. Its lowest and highest prices in the past day were $1.29 and $1.38.
Nevertheless, holders of both SHIB and BONE are increasing rapidly, with massive amounts of tokens moving away from exchanges in recent times.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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