cryptonewsland.com
- Shibarium, the layer-2 solution for Shiba Inu, faced a temporary outage due to networking problems among validators.
- Market reaction to the outage prompts speculation on its impact, amidst broader trends in cryptocurrency trading.
- Despite technical challenges, Shibarium continues to grow, with significant transaction volumes and increasing wallet creations.
Shibarium, the layer-2 blockchain solution developed for the Shiba Inu cryptocurrency, experienced a temporary outage, as confirmed by a post from developer Kaal Dhairya on the X social media platform. The disruption was attributed to networking problems among the network’s validators. Despite the quick recovery of the leading network, some components, such as Shibariumscam, a website monitoring network health, and certain external remote procedure calls (RPCs), remained affected while the team addressed external technical issues.
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
In response to the outage, Dhairya has urged external teams involved with Shibarium’s infrastructure to contact him to coordinate resolving the issues. This proactive communication underlines the team’s commitment to maintaining network stability and functionality.
Market Reaction to Shibarium Outage
Shiba Inu’s (SHIB) price recorded a modest rise of 1% over the past 24 hours at press time. This price movement comes in the wake of the network outage. However, it remains unclear whether the decline was a direct result of the technical difficulties or a consequence of broader market trends, including possible profit-taking activities.
Since its launch in August of the previous year, Shibarium has faced technical stability challenges. Despite these issues, the network has achieved notable milestones, having processed over 400 million transactions and nearing 1.7 million wallet creations.
Shibarium’s Ongoing Growth and User Adoption
The recent technical hiccup has not halted Shibarium’s overall growth. On April 15, the network boasted nearly a million transactions, although this number dropped significantly to just over 10,000 by April 21.
Furthermore, the growth of Shibarium can be seen in the increasing number of wallets, suggesting a widening user base and growing adoption within the cryptocurrency community. This expansion is a positive sign for the network’s resilience and ability to attract and retain users despite occasional technical difficulties.