A memecoin developer who goes by the pseudonym Shytoshi Kusama has announced that Shibarium, a scaling solution for Shiba Inu (SHIB), is now live and running smoothly. Kusama recently stated in a blog post that Shibarium is ready for the big leagues after technical difficulties caused by a large influx of users following its official launch earlier this month.
Millions of dollars worth of crypto have been stuck on ETH bridge
According to Beosin, a blockchain security firm, these technical issues resulted in millions of dollars worth of cryptocurrencies being stuck on its Ethereum (ETH) bridge.
However, Kusama assures users that they can now withdraw SHIB, Wrapped Ethereum (WETH), and other tokens in the ecosystem such as DogeKiller’s (LEASH) loyalty token and Bone ShibaSwap’s (BONE) governance token.
On how long it will take to withdraw each of these crypto assets, Kusama made sure to state the following:
“It is by design that the SHIB, LEASH, WETH withdrawals through the bridge take at least two checkpoints (45 Minutes to 3 hours), and BONE withdrawal will take up to 7 days.”
The developer has reported a significant increase in the number of wallets and transactions on the layer-2 network since the implementation of the scaling solution.
As of now, there are over 65,000 wallets and 350,000 transactions, with a variety of tokens being deployed on Shibarium, some of which are fun, unusual, or inappropriate.
In the midst of this diverse range of tokens, the most successful ones will ultimately prevail.
Recently, Kusama announced that the team behind Shiba Inu’s scaling solution has introduced a new monitoring system and additional safety measures to prevent any technical issues from arising in case of another surge in network traffic.
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