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Shibarium Traffic Surge Update: Safety Measures Implemented, Funds Remain Secure

The launch of the Shibarium mainnet exceeded all expectations with immense success. The influx of traffic was so overwhelming that even Shiba Inu itself was unable to manage it. In response to the unprecedented network activity, Shiba Inu had to communicate with users about the situation. The initial official announcement revealed that within mere moments of the launch, the Shibarium network experienced an influx of millions of computing units worth of traffic.

The sheer volume of traffic prompted Shiba Inu to inquire into the source of this influx. Upon investigation, the network identified a solitary block containing numerous regular transactions and contract creations. In response, Shibarium entered a failsafe state to safeguard the funds and ensure their security.

People had eagerly anticipated the Shiba Inu Ethereum Layer 2 solution for a considerable time. Nevertheless, the fact that the Shibarium mainnet launch would coincide with the presence of 21 million wallets caught everyone by surprise. By employing a Proof-of-Participation consensus mechanism, Shiba Inu is effectively doing away with the need for Proof-of-Work (PoW) deployment.

Nonetheless, this distinctive feature was among the factors contributing to the unforeseen challenge during Shibarium’s launch. With a clearer grasp of the issue, the network is seeking assistance from other networks to address the situation.

Similarly, the Unification team and Shibarium developers have collaborated to enhance the scalability of the blockchain network. They have devised several potential strategies, and Shibarium intends to provide regular updates through its official website and social media platforms.

How AI legalese decoder can help: The AI legalese decoder can analyze the official announcements and updates from Shiba Inu and Shibarium to provide a simplified understanding of the technical jargon and complexities. This can be especially helpful for non-technical users who may struggle to grasp the implications of the network activity and the steps taken to address the situation. By providing clear and easy-to-understand explanations, the AI legalese decoder bridges the gap between technical information and everyday users.

Developers Initiate Network Restart

Information retrieved from Shibariumscan.io indicates that the layer-2 network has been successfully reinstated. On August 17, Shibarium temporarily halted block production due to the influx of traffic that overwhelmed the blockchain during its mainnet launch.

Lead developer Shytoshi Kusama verified that the Shibarium bridge had trapped around $1.7 million in transferred funds, confirming their irretrievability. Nonetheless, in a blog entry titled “Shibarium: ALL IS WELL,” Kusama referred to these concerns as unfounded fear, asserting that contrary to prior accounts, there was no problem with the bridge, and all funds remained secure.

He explained that Shibarium encountered an “enormous influx of transactions and users simultaneously” right after its launch, causing the network to become unavailable. Initial assumptions did not attribute this to its functionalities.

To underscore the scale of the sudden surge in network activity, Kusama referred to data from the Web3 development platform Alchemy. While Shibarium had an allocated monthly capacity of 400 million compute units, it faced an influx of over 160 million compute units in under half an hour. At this pace, the network could handle billions of compute units daily, in line with the most active layer-2 blockchains.

How AI legalese decoder can help: The AI legalese decoder can provide detailed explanations of the technical aspects mentioned by Shytoshi Kusama. It can break down the concept of compute units, the capacity of the network, and the significance of the surge in traffic. By doing so, the AI legalese decoder helps users understand the technical intricacies of the situation and its implications for the Shibarium network.

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