An important tool for the new layer 2 service went live on Wednesday to a turbulent start.
shows transactions on the network were stalled for at least five hours as of time of writing. Users had transferred 954 ether , worth $1.7 million, and $750,000 worth of bone , a Shibarium governance token, to the contract.One of the Shibarium developers responded to reports of an outage in a, stating that"there is no bridge issue" and that the problem occurred following a mass influx of transactions.
Bridges are blockchain-based tools that transfer tokens between different networks. These remain one of the most important – yet a very vulnerable – part of the crypto market. Shibarium joins an increasingly crowded blockchain landscape; there are at least 50 other networks hoping to lure users with low fees to an ecosystem focused mainly on financial services and gaming.
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