According to Cointelegraph: Shibarium, a layer-2 blockchain for Shiba Inu (SHIB), has reached over 100,000 wallets on its platform, with 35,000 of them added within 24 hours of the platform's relaunch on August 28. Shytoshi Kusama, the lead developer and co-founder of Shiba Inu, confirmed the relaunch in a blog post on the same day. Shibarium's block explorer now shows that 101,277 wallets have facilitated 420,897 transactions across 344,614 blocks, with an average block time of 5 seconds.

Kusama stated that the relaunch demonstrated that funds were always safe on the platform. He also thanked Sandeep Nailwal, co-founder of Polygon Labs, for providing assistance with the relaunch. The relaunch had a positive impact on SHIB's price, which increased by 3.6% to $0.00000825 over the last 24 hours. However, SHIB is still down 14.3% from its $0.00000963 price at the time of the outage.

During the outage, Kusama attributed the issue to a massive influx of transactions and users when the platform went live. It was later discovered that thousands of contract creation and normal transactions in one block caused the platform to enter fail-safe mode. Approximately $2.5 million in funds were stuck on the bridge at the time. In response, the Shibarium team claimed to have increased the server infrastructure by 1500% to better manage on-chain congestion.

Shibarium is an Ethereum layer-2 network that uses SHIB for gas fees and focuses on building gaming and metaverse applications on the platform.