Shiba Inu's Shibarium network restarts block production after a pause. Elevated traffic and FUD led to challenges, but fund security is intact. Scaling plans outlined, $2M insurance secured. SHIB, BONE, LEASH prices fluctuate amid FUD and market sell-off.
and is generating blocks. The Shibarium network entered a fail-safe mode and paused operations to safeguard funds due to unexpectedly high traffic after the mainnet launch., but said that fund security remains intact. He asserted that both the bridge and the chain are functioning smoothly and Shibarium is poised for a swift restart.In an official blog post dated August 18, Shiba Inu developer Kaal Dhairyaplans for scaling operations to accommodate substantial traffic on Shibarium.
“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.” Furthermore, the Shiba Inu project has opted to secure insurance coverage amounting to $2 million to address potential fund retrieval challenges upon the restart of Shibarium. Following this announcement, block production resumed on the network as the team maintains vigilant oversight.
Nonetheless, the ShibArmy community expresses apprehension over spreading Fear, Uncertainty and Doubt that negatively impacts the project. The members of the community are positive and have shown support for the network’s efforts in working on the transaction pause.
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