Shibarium has finally managed to get its Mainnet alive after an initial launch failure on Aug 16, 2023.
According to a Shibarium developer, Polygon Labs played a crucial role in getting the Mainnet online. This comes as a surprising move when there is a cutthroat competition in the crypto industry.
The successful relaunch news was shared by Shytoshi Kusama through a tweet.
It is notable moment because, Polygon has been rising rapidly in the current crypto ecosystem. Earlier, it had announced partnerships with Bank of Italy to create a DeFi Ecosystem.
What Happened to Shibarium After its First Launch
Shiba Inu’s blockchain, Shibarium faced a outage on its initial launch day, i.e., 16 Aug 2023. As per the official blog of Shiba Inu, a high influx of users on Shibarium caused the crash.
On their enterprise subscription with Alchemy, which is a Web3 development platform, Shiba Inu received 400 Million monthly user counts. During launch, the influx of users crossed 16 Million, which caused the server to crash.
Below is an image shared by Shiba Inu’s official blog.
An Unexpected Helping Hand
Despite being a tough competitor of Shiba Inu, Polygon lent a helping hand and successfully restored Shiba Inu’s blockchain.
The news was shared by Shiba Inu’s official blog thanking Polygon and its team. Shytoshi Kusama, lead developer, said that when Shibarium was about to crash, he gave a call to Polygon Labs founder Sandeep Nailwal.
Kusama gave special thanks to Sandeep, JD, Krishna, and others from Polygon as well as to the decentralized team of Shibarium development.
Sandeep replied to this by the tweet below.
This was previously unseen in Web3 because of the brutal competition that exists in the industry.
Earlier during the indictment of Tron’s blockchain by the SEC, there were no helpers which ultimately caused its token price to crash. Also, during Voyager’s collapse, there were no helpers around.
What did Polygon Gain?
Polygon made one of the largest gains from this experience. The developers at Polygon got the first real hand experience of reviving a crashed blockchain Mainnet of one of the top crypto ecosystems.
This might prove to be a very useful incident because Polygon also runs a Layer2 scaling solution.
It also shows that Polygon is much more able to handle such incidents. This proves to be valuable when most governments like Govt of Italy look for partners to develop their CBDCs, an eventual form of currency that could replace all digital versions of cash.
Polygon has proved its mettle from the beginning when Disney chose it as their metaverse development platform, showing Polygon has much more to offer than just a cryptocurrency and a L2 blockchain.
Latest Status and a Few Statistics
The Shibarium blockchain is now up and running. The team has initiated the bridge with Ethereum, which went live on 28 Aug, 2023.
As per latest reports, Shibarium team has scaled up the total user handling capacity to 1500% which means Shiba Inu’s blockchain can now handle 60 Million users.
The block time during the press time of this article was 5 seconds. The blockchain had crossed 540k transactions within 48 hours of the relaunch. There were 337k unique wallet addresses.
Mistakes are very common in any aspect of life. Learning from those mistakes helps avoid them in the future. Shibarium too had underestimated its popularity which resulted in a catastrophic failure of its blockchain launch.
Yet, it made itself stand again with Polygon’s help and showed us an unseen aspect of Web3.
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