Shibarium Sees Big Growth in Transaction Volume

• The lead developer of Shiba Inu (SHIB) claims that their new layer-2 scaling solution Shibarium is doing well after a “massive influx” of users.
• The developer, Shytoshi Kusama, says that the technical difficulties were due to the large amount of transactions taking place over it.
• Alchemy reported that Shibarium experienced 160 million compute units in only 30 minutes, on par with the most active layer-2 blockchains.

Shibarium Experiences “Massive Influx” of Users

The lead developer of memecoin Shiba Inu (SHIB), Shytoshi Kusama, recently announced via blog post that their new layer-2 scaling solution, Shibarium, has been experiencing a “massive influx” of users and transactions since its official launch earlier this week.

Technical Difficulties Due to High Transaction Volume

Kusama noted that SHIB had some technical issues due to the large number of transactions taking place over it. He said: “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.”

Alchemy Reports Insane Level Of Traffic

According to analytics provided by service Alchemy, Shibarium experienced over 160 million compute units in about 30 minutes which is on par with other active layer-2 blockchains. If they continue at this rate they are expected to reach billions upon billions of compute units per day.

Integration With Self Sovereign Identity (SSI)

Last week lead developer Shytoshi Kusama teased a plan for integrating Self Sovereign Identity (SSI), or blockchain based digital identities much like passports into all Shiba Inu projects; something he believes will make a huge difference in terms of security and privacy for users around the world.

SHIB Price Action

At time of writing Shiba Inu (SHIB) was trading for $0.000009 which represents roughly a 10.6% dip during the last 24 hours