Shiba Inu lead developer Shytoshi Kusama has published another blog to update the community on the current status of Shibarium. According to Kusama, the network has achieved a “ready” state and is now more enhanced and optimized. Although the network is still in testing, the blockchain is producing blocks.
Kusama added that the team enabled a new monitoring system and additional fail-safes. These include rate limiting at the RPC level and automatic server resets in cases of high traffic. The blog stated,
“We are almost ready to reopen to the public.”
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Kusama also said additional validators will go live tomorrow, Aug. 23, giving users more options to stake their ShibaSwap Bone (BONE) tokens. Additionally, the Shiba Inu (SHIB) team will start to implement the ShibPaper tomorrow. They aim to have “more than just a framework, but a working system for governance and management.”
The Shibarium launch did not go as smoothly as planned. High traffic led to technical difficulties, causing some assets to be stuck. Shibarium ultimately had to be paused. Although the network is “ready” to go live, Kusama has not clarified when that will happen.
Shiba Inu’s price continues to stumble.
The lackluster launch and a massive market correction have spewed bad news for the popular dog-themed crypto. SHIB is currently down by 5.1% in the last 24 hours and 23.3% in the weekly charts. The token is one of the worst-performing cryptos among the top 100 projects. SHIB rivals Pepe (PEPE) and Dogecoin (DOGE) are not too far behind either. PEPE is down by 22.3% over the previous week, and DOGE is down by 16% in the same time frame.
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Although many fans and users expected SHIB to rally when Shibarium launched, it was not the case. Nonetheless, the team is working out the bugs and technical issues to make sure that the network runs smoothly from here on.
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