Shibarium denies bridge issues, calls it FUD

The squad down the recently released Shibarium mainnet has denied reports of span problems and plus losses, saying screenshots floating astir the crypto assemblage are false.

In a blog station connected Aug. 17, Shytoshi Kusama, co-founder of the Shiba Inu ecosystem, blamed a monolithic influx of transactions and users enactment for causing method difficulties successful Shibarium, an Ethereum layer-2 scaling blockchain launched hours earlier.

Sharing information from Alchemy, Kusama said the task has allotted 400 cardinal compute units per month, but experienced 160 cardinal compute units successful astir 30 minutes aft Shibarium's launch. "Although we expected a precise engaged moment, we ne'er expected this overmuch traffic, instantly," helium said, adding that:

"Our squad has been moving tirelessly to standard (even though validators were already connected autoscale erstwhile we made the announcement) and bring up the concatenation again to an grade that we tin grip the influx of our decentralized federation state."

Shibarium's compute units consume. Source: Alchemy/Shibarium.

First concerns astir Shibarium surfaced successful the crypto assemblage aft screenshots reportedly captured an interior Telegram speech betwixt Shibarium developers, indicating the squad was allegedly incapable to retrieve assets bridged to the Shibarium network.

In lawsuit yall were wondering however Shibarium is going pic.twitter.com/S5vjTxoMDk

— ʎppɐꓷ ɯooɹɥS (@shroom_daddy) August 16, 2023

Contributing to the investigation, blockchain sleuth ZachXBT explained that portion helium was incapable to corroborate whether the assets had been lost, the RPC - the node that runs cardinal blockchain lawsuit bundle - was compromised. At the clip of writing, the Shibarium RPC website remains down.

"Give america clip to standard [...] and past bring up our astonishing concatenation erstwhile again," Kusama asked successful the blog post, dismissing the rumors arsenic FUD, an acronym for “fear, uncertainty, and doubt.”

Shibarium relies connected a caller statement mechanics called proof-of-participation (PoP), successful which validators are selected based connected their cryptocurrency holdings. It is designed to interact with the superior Ethereum layer-1 blockchain, seeking to connection much businesslike and scalable transactions. Its mainnet was released aft months of investigating involving millions of users and 21 cardinal wallets created.

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