According to data from the Layer 2 protocol monitoring platform PuppyNet, the Shibarium protocol appears to be functioning normally after many restoration efforts.
The data being displayed indicates that a total block size of 2,219,724 has been generated thus far, with an average block duration of seven seconds. The number of daily transactions, which is estimated to be in excess of $176,000, also provides insight on the health of the Shibarium protocol.
The positive trends on the Shibarium protocol are evidence of the teamwork put forward by the blockchain’s creators, under the direction of Shytoshi Kusama. Operating without interference is evidence that the worst of the horror could be past, even though the daily transaction rate is still less than the amount that was trapped on-chain during the debut earlier this month.
The main Shibarium restoration efforts, according to updates previously published by Shytoshi Kusama and other developers, were intended to increase its scalability. This was the fundamental basis that led to the initial creation of L2, and in an effort to do things correctly this time, the team apparently enlisted assistance from other well-established crypto projects in the current Web3.0 environment.
Is Shibarium set to compete?
Shibarium may be back on its feet, but it should be emphasised that it is still moving slowly and is far from being able to compete with other Layer 2 scaling solutions that are known to be built on Ethereum. The other top candidates, in addition to Coinbase’s freshly introduced Base protocol, also include Polygon zkEVM, Optimism, Arbitrum, and zkSync.
High hopes are held for Shibarium. Many community members have become more relaxed as a result of the protocol’s unsuccessful launch, and whether the effort to pique the Shib army’s attention will be successful heavily depends on how the coming weeks play out.
The protocol is back online, but it is still unclear if it will be able to add as many users as it had first promised.
