The lead developer of memecoin Shiba Inu (SHIB) says that the project’s new layer-2 scaling solution Shibarium is doing just fine after experiencing a “massive influx” of users.
In a new blog post, the pseudonymous head of Shiba Inu, developer Shytoshi Kusama, says that “all is well” with Shibarium after being inundated by users and transactions following its official launch earlier this week.
[adinserter block="1"]However, Kusama notes that SHIB did have some technical issues due to the large number of transactions taking place over it.
“Our technical difficulty is not an issue of Shibarium, but instead, from the MASSIVE influx of transactions and users that happened at the same time when we announced that Shibarium is live.
Our team has been working tirelessly to scale (even though validators were already on autoscale when we made the announcement) and bring up the chain again to an extent that we can handle the influx of our decentralized nation-state.”
According to Kusama, Shibarium experienced over 160 million compute units in about 30 minutes, at the same pace as most other active layer-2 blockchains.
“To give an example of the insane level of traffic we just experienced, let’s look at one analytic provided by one service we used to check everything, Alchemy. On the enterprise plan we have with Alchemy, we are allotted 400 Million compute units a MONTH.
At launch, we experienced 160+ Million compute units in approximately 30 minutes. If we continue at that rate, we are expected to reach billions of compute units in a day, on par with the most active layer-2 blockchains that exist. Although we expected a very busy moment, we never expected THIS much traffic, instantly.”
Last week, the developer teased the launch of Shibarium as well as announced a plan to integrate Self-Sovereign Identity (SSI), or blockchain-based digital identities much like passports, into all Shiba Inu projects.
Shiba Inu is trading for $0.000009 at time of writing, a 10.6% dip during the last 24 hours.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/AlexRoz/Nikelser Kate/WindAwake
