Shibarium Outage Sparks Concerns: Network Recovers but Transaction Volume Crashes
The Shibaroum network, a layer 2 blockchain solution designed to enhance the Shiba Inu ecosystem, recently experienced a significant drop in daily transactions due to a temporary outage. The outage, caused by networking issues among validators, raised concerns about the network’s capacity and reliability.
Prominent developer Kaal Dhairya addressed the problem and provided updates, stating that the network is back online but some services like Shibariumscan and RPCs may take longer to fully recover. Despite this, Shibariumscan has been fixed and is operational. Dhairya also urged external teams working on the network infrastructure to streamline communications for better coordination.
This is not the first time Shibarium has faced downtime, with previous outages in August and September 2023. The recent crash in transaction volume, dropping from 121.9k to 10.77k daily transactions, has sparked further concerns about the network’s stability. However, Shiba Inu has released a new UI update to improve user experience and accessibility.
Despite the network issues, the price of Shiba Inu (SHIB) has shown resilience, with a 1.8% spike in the last 24 hours. SHIB is currently trading at $0.00002652, holding the #11 spot on the global crypto market chart with a market cap of $15.6 billion. The trading volume for SHIB has decreased by 41% amidst the network challenges.
