[ccpw id="39382"]

HomeCrypto NewsMarket“All Is Well,” Shiba Inu Lead Developer Dismisses FUD Surrounding Shibarium

“All Is Well,” Shiba Inu Lead Developer Dismisses FUD Surrounding Shibarium


Written By:

Shiba Inu lead Kusama has dismissed the recent FUD around Shibarium, noting that the recent issues emanated from a high user influx and assuring users of efforts at scaling the system.

- Advertisement -

Shytoshi Kusama, the community-appointed Shiba Inu lead, has addressed the concerns triggered by the issues faced by investors on Shibarium. Kusama assured the community that “all is well,” noting that the problem came from an unanticipated influx of users.

While the issue might have troubled some community members, Kusama appeared unbothered in a recent blog release. The developer’s confidence stemmed from the fact that “all is well” and the development team is working to resolve the issue.

Recall that panic spread among some investors when they could not access their bridged funds on Shibarium. Kusama has come up to note that there is no issue with the bridge.

- Advertisement -

Shiba Inu marketing team member Lucie revealed that several parties leveraged the situation to spread FUD concerning the project. This included purportedly fake screenshots about Kusama allegedly admitting the funds were lost.

Kusama Addresses Concerns

“Let’s deal with the fud. There is no bridge issue, any screenshot you see of me saying any issue is false and your funds are safu. So what is happening?” Kusama boldly declared in the recently-released blog article.

He recalled the fact that the teeming Shiba Inu community has unknowingly caused issues on exchanges and other platforms due to their sheer number, leading to downtimes on these platforms.

Kusama stressed that he never expected that the development team could also face this issue. The developer’s remarks underscore the massive numbers the Shiba Inu community boasts.

- Advertisement -

According to Kusama, the technical issue did not originate from Shibarium itself but from a large influx of users. He confirmed that the development team did not expect this magnitude of adoption at the time of launch, noting that they were already scaling the system.

Shibarium Sees Massive Adoption

He disclosed that the team secured 400 million compute units per month with an enterprise plan with Alchemy. However, when Shibarium launched, the team witnessed over 160 million compute units in just 30 minutes. 

Shibarium Computes
Shibarium Compute Units

The discrepancy between what was anticipated and what became the reality was large. This figure could result in billions of compute units daily if the network continues to run at this rate. Kusama proudly emphasized that these figures rival the most prominent layer-2 networks.

In addition, Shibarium saw deposits totaling 1,000 ETH and 600,000 BONE within 15 minutes. He noted that while the team expected a large influx of users, they never anticipated this much adoption rate. Kusama leveraged the opportunity to tout the strength of the Shiba Inu community.

Shiba Inu Team Working to Scale the System

The developer then assured the community that the development team is currently working to scale the system to accommodate the large influx of users. All he requested from investors was time.

“Give us time to scale with the amazing team at Unification and others, and then bring up our amazing chain once again so that we can start our journey towards perpetual decentralization,” he remarked.

Kusama also cautioned investors against clicking on links not officially from Shib.io. According to him, these links could be dangerous. It bears mentioning that bad actors often take advantage of times like this to target unsuspecting investors.

Follow Us on Twitter and Facebook.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

More from Author