U.Today - After many restoration efforts, the Shibarium protocol appears to be running smoothly, to data from the Layer 2 protocol scanning platform PuppyNet.
According to the data being brandished, a total block of 2,219,724 has been produced thus far, with the average block time pegged at seven seconds. The health of the Shibarium protocol is also depicted by total daily transactions, which is pegged north of $176,000.
The on the Shibarium protocol are a testament to the collective effort by the developers of the blockchain, as led by Shytoshi Kusama. Although the daily transaction rate is still below the amount stuck on-chain at its initial launch earlier this month, operating without obstruction is proof that the worst of the nightmare might be over.
Per shared earlier by Shytoshi Kusama and other developers, the major restorative efforts being directed at Shibarium were meant to boost its scalability. This has been the core foundation that fueled the emergence of L2 in the first place, and in a bid to get things right this time around, the team reportedly drafted help from other established crypto projects in today's Web3.0 ecosystem.
Is Shibarium set to compete?
While Shibarium on its feet, it should be noted that it is still taking baby steps, and it is far from competing with other known Ethereum-based Layer 2 scaling solutions. Besides the recently launched Base protocol from Coinbase (NASDAQ:COIN), the other major contenders include Arbitrum, Optimism, zkSync and Polygon zkEVM, among others.The expectations for Shibarium are high. The protocol's failed launch has forced a number of community members to be more laid back, and whether the attempt to regain the interest of the Shib army will succeed is highly dependent on how the next few weeks pan out.
As the protocol is now back online, the question remains whether it can onboard as many users as it initially promised to.