Shibarium, Shiba Inu’s eagerly awaited layer-2 rival, made its official mainnet debut on this Wednesday. Nevertheless, there were several controversies surrounding the launch.
The Shib Mainnet RPC, which can be accessed through https://www.shibrpc.com, is currently unavailable as of the time of publication. Given the significant amount of Ethereum (ETH) that is locked inside the Shibarium cross-chain bridge, this has caused concern among the large cryptocurrency community.
Transactions on Shibarium are discovered to be in a pending condition as a result of Beosin’s monitoring. Beosin advised clients to temporarily suspend all operations on Shibarium due to the startling $1.7 million in ETH that is currently locked on the Shibarium cross-chain bridge.
This follows the creation of almost 21 million new wallet addresses on the Shibarium testnet, which shows a high level of interest and activity in the run-up to the mainnet launch.
An unsubstantiated message purporting to be from Shytoshi Kusama, the founder of Shiba Inu, has been making the rounds on social media, adding to the mystery. We f**ked up exhausting, reads the message. Not even the ETH bridge works well for us. The authenticity of this alleged internal Telegram chat message is still under verification by U.at the moment.
The market effectiveness of Shiba Inu has been directly impacted by technical issues. According to data from CoinGecko, the SHIB value has drastically decreased and is currently trading at $0.00000931, a 6.7% decline.
Social media has been awash in comments in response to the failed launch. Crypto enthusiasts have turned to platforms like X to express their doubts and make fun of the situation. Feedback ranges from recommending alternative blockchain options to outright proclaiming Shibarium dead just hours after launch.
Shytoshi Kusama has only to issue an official statement addressing the controversy after spending months hyping up the Shibarium launch because the SHIB neighborhood is waiting for more readability.