Summary
- Shytoshi Kusama has relaunched the Shibarium protocol after it experienced a few flaws that led to its suspension.
- A few Shiba Inu officials later posted on X (formerly Twitter) which led to the value of the Bone token increasing.
Shytoshi Kusama Relaunches The Shibarium Protocol
Lucie, a Shiba Inu (SHIB) official, said that the Shibarium protocol-the Layer 2 protocol- had already started producing blocks and was operating according to plan. She added that all that was needed to be done at the time was to launch it. Shibariumscan.io explorer started showing that blockchain production and transactions had started.
Later, Lucie announced that the Shibarium protocol was back in action and that her bridged BONE tokens had returned. Moreover, she asked the community members to be patient since the team was still working on indexing the chain.
#Shibarium’s 𝐌𝐀𝐈𝐍𝐍𝐄𝐓 is live! ✅️ pic.twitter.com/OnrduRZosx
— SHIB HODLER (@ShibaInuHodler) August 24, 2023
The lead developer, Shytoshi Kusama, had vowed to scale the protocol by 1500% to enhance its security, decentralization features, and stability. Shibarium now has a new and improved monitoring system and a fail-safe that includes the ability to limit the levels of the RPC. In addition to all of this, the protocol also comes with an auto-server reset.
The Shiba Inu team will be implementing the ShibPaper to ensure that the efficiency and effectiveness of the protocol are met.
The Value Of The BONE Token Goes Up By 15%
The value of BONE (The Shibarium gas token) has risen by 15% within the past 24 hours. The maximum and minimum values that were recorded within the 24 hours were 1.19$ and 1.34$. More reports indicated that the trading volume went up by 100%.
The SHIB and LEASH values went up by 1% and 18% within the past 24 hours. The maximum and minimum prices that were recorded within the 24 hours for the SHIB token were 0.00000813$ and 0.00000851$.
The price of the LEASH was at 494$ at the time of writing, while the value of SHIB was at 0.0000083$.
