Shibarium, Shiba Inu’s layer-2 solution, experienced a brief outage due to networking issues among validators. The market’s response to the interruption has sparked speculation regarding its effects, amid ongoing trends in cryptocurrency trading.
Despite these technical hurdles, Shibarium remains on an upward trajectory, boasting substantial transaction volumes and a growing number of wallet creations.
Temporary Outage Hits Shibarium Network
Shibarium, the layer-2 blockchain solution developed for Shiba Inu cryptocurrency, encountered a temporary outage, as reported by developer Kaal Dhairya on the X social media platform. The disruption, attributed to networking issues among the network’s validators, affected certain components such as Shibariumscam and external RPCs.
There was a temporary shibarium outage caused because of networking issues amongst the validators. Network is back up and running now, some services like shibariumscan or external RPCs can still remain down until the steps provided are implemented. If you’re an external team…
— Kaal (@kaaldhairya) April 22, 2024
Although the network swiftly recovered, some services remained affected as the team addressed external technical challenges. Dhairya urged external teams involved in Shibarium’s infrastructure to coordinate with him to resolve the issues, highlighting the team’s proactive approach to maintaining network stability and functionality.
Shiba Inu (SHIB) Price Reaction to Network Outage
Shiba Inu’s (SHIB) price has seen a modest 1% increase over the past 24 hours at the time of writing, following a recent network outage. It’s uncertain whether this decline is directly linked to the technical difficulties or influenced by broader market trends, potentially including profit-taking activities.
Since its launch in August of the previous year, Shibarium has encountered technical stability challenges. Despite these hurdles, the network has achieved significant milestones, processing over 400 million transactions and nearing 1.7 million wallet creations.
Shibarium’s Growth Amid Technical Challenges
Despite a recent technical hiccup, Shibarium’s overall growth remains unaffected. On April 15, the network recorded nearly a million transactions. However, this figure dropped significantly to just over 10,000 by April 21.
Positive Signs of Expansion: Additionally, Shibarium’s growth is evident in the increasing number of wallets, indicating a broadening user base and rising adoption within the cryptocurrency community. This expansion showcases the network’s resilience and its capability to attract and retain users despite occasional technical difficulties.
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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