Polygon’s Key Role and Scaling Update

• A Shibarium developer revealed that Polygon was involved in the relaunch of the layer 2 blockchain which aims to overcome scalability issues.
• Shibarium has found stability since its relaunch to the public after facing technical difficulties in its official launch that placed billions worth of tokens at risk.

In an interesting development, a Shibarium developer has revealed that Polygon developers were involved in the relaunch of the blockchain. Confirming on X (formerly Twitter), Shiba Inu developer Kaal Dhairya mentioned Sandeep Nailwal who is a co-founder of Polygon, and Jaynti Kanani who is a developer with the project for helping in the relaunch of Shibarium.

“I personally want to thank the Polygon team @sandeepnailwal @jdkanani and @0xkrishnau
who went out of the way for the crypto community to help Shibarium, This FriendSHIB is forever!” wrote the developer.

This has come as a surprise for many who regard the crypto space as a very competitive arena. In addition, the two projects (Polygon and Shibarium) will be in direct competition as layer 2 blockchain platforms. The launch of Shibarium is aimed at being one of the top layer 2 blockchain platforms competing with the likes of Ethereum, Cardano, Solana, and Polygon.

I personally want to thank the Polygon team @sandeepnailwal , @jdkanani and @0xkrishnau who went out of the way for the crypto community to help Shibarium, This FriendSHIB is forever!

— Kaal (@kaaldhairya) August 28, 2023

The specifics of how Polygon aided in the relaunch remain unknown. However, Polygon has proven its technological prowess, especially in regards to scalability. Ethereum has been able to leverage the technology offered by Polygon enabling it to process around 7,000 transactions per second from its 27 transactions per second.

When Shibarium faced technical difficulties during its launch, the lead developer Shytoshi Kusama confirmed that it was not a problem with the network but simply having problems with the large demand and transaction requests. It stands to reason that Polygon could help address this issue.

Shibarium Running with Optimal Performance

The statements come as Shibarium confirms that it is now live and running with optimal performance. The launch of the platform follows vigorous enhancements aimed at ensuring user safety and platform stability. Lead developer Kusama made the announcement on X his account where he shared a blog post that highlighted the achieved progress.

https://t.co/6hpCh5QU2h

— Shytoshi Kusama™ (@ShytoshiKusama) August 28, 2023

Follow us for the latest crypto news!

In the post, the team noted;

So far, before this announcement, we have accumulated over 65,000 wallets and 350,000 transactions. We’ve see a variety of fun, unusual, and sometimes offensive tokens deployed on Shibarium alongside a variety of platforms. Within these thousands of tokens, we will see which will rise to the top.

Now that we’ve proven that all funds are safu (as we said), and that Shibarium is ready for prime time, we will reopen our channels.

This has led to SHIB price stability as investors remain confident of the project’s success. At the time of press, SHIB is exchanging for $0.000008026. With a less than 1 percent price change in the last 7 days, the token seems to be moving sideways. Historically, after a prolonged period of little price movement is followed by a drastic price chang., SHIB investors remain hopeful that this will be the start of a positive price trend.

Best Crypto Exchange for Everyone:

• Invest in Shiba Inu and 70+ cryptocurrencies and 3,000 other assets.
• 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
• Copy top-performing traders in real time, automatically.
• Regulated by financial authorities including FAC and FINRA.

2.8 Million Users

Get Started

 

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.