A Shiba Inu-focused X handle recently shared a 30-day update on Shibarium. The update clarifies that the recent irregularities in displayed network data are due to major infrastructure restructuring and upgrade, not a decline in network activities.
In the last 30 days, Shibarium went through a major server migration and a full chain re-indexing process. First is the blockchain explorer currently being built from scratch. The explorer is now at 45% completion, and due to this, all on-chain data is partially visible to users. However, the actual network is still intact and fully functional.
Notably, the difference between the visible data and actual data is enormous. While the explorer showed around 2.4 million blocks and 168 million transactions as of the time of the post, the actual numbers are more than 14 million blocks and 1.56 billion transactions. Similarly, the displayed wallet count of about 5 million addresses is far from the actual 270 million addresses. The gap in these figures has been attributed to the ongoing indexing process, which is yet to be completed.
The same update mentioned that RPC connectivity is now stable following the migration to new, high-performance endpoints. Also, the Ethereum to Shibarium bridge still operates with security hardening and key rotation, which was a response to the earlier security incident, which led to the loss of over $4 million worth of cryptos.
Shiba Inu Officially Launches New NFT to Compensate Shibarium Hack Victims
Burn Rate Surges and Layer-3 Development Advances
Interestingly, the development update reveals a notable 370% burn rate spike for Shibarium on March 21. Since the burn mechanism has been the central focus of the Shiba Inu community, this spike is significant for the deflationary strategy.
Meanwhile, on the testnet side, the team has moved its focus to Layer-3 development on Shibarium’s testnet, Puppynet, under the Shib Alpha and ShibClaw initiatives. On March 21, WoofSwap launched a new L3 explorer for testing, and the block times were steady at approximately five seconds. Additionally, the team saw an increase in AI-driven automated contract activity on the testnet, demonstrating growing developer engagement ahead of the L3 rollout.
In the meantime, the update added that users should take note that if their NFTs and tokens are not showing, it may not mean a loss, but rather an explorer indexing delay issue.
Temitope Olajide
The CoinRemark Team
