Kusama(KSM)

With the launch of Shibarium this year, Shytoshi Kusama and the SHIB community have established themselves as a force to be reckoned with in DeFi and Web3.

Source: Vaksmanv/Adobe Ukraine’s failure to adequately regulate the crypto sector cost the nation just shy of $49 billion in the period 2016 to 2022, a study has found. The study was carried out by Ukraine Economic Outlook, in association with the crypto exchange Kuna and an industry group named the Blockchain Association of Ukraine. The […] The post Failure to ‘Properly’ Regulate Crypto Has Cost Ukraine $49bn – Study appeared first on Cryptonews.

To improve user experience on Shibarium, Shytoshi Kusama has announced the launch of “Shib Name Service.”

"Now, I can return and support in any way I can as we keep building," Shytoshi Kusama said.

Vet Kusama warned people that a malicious Shibarium tech channel offers a fake token distribution.

Development activity on Cardano rallies in the last month, placing the Layer 1 network ahead of Polkadot and Kusama.

Vet Kusama urged people not to click on any links as there is no such distribution.

As on-chain activity continues to thrive, PogeX token (POGEX) has emerged as the latest DEX-launched moon-shot following a monumental +1,125% overnight rally. This comes amid heightened volatility in DEX markets; triggered by a break-out on-chain summer in August which has seen substantial growth for Telegram trading bots such as Unibot and Blacksmith.... Read More: POGEX Token is Up 1,000% and Wall Street Memes Could Be the Next Crypto to Explode – 100x Incoming?

The Lido on Solana project risks shutting down die to financial strain, after the winding down of Lido on Kusama and Polkadot.

The past 24 hours saw millions of SHIB tokens burned as Shytoshi Kusama announced yet another important development.

Shytoshi Kusama, the co-founder of the SHIB token, said the bridge was fixed with the help of Polygon Labs co-founder Sandeep Nailwal.

Shiba Inu's much-anticipated Shibarium network, a layer-2 solution built on Ethereum, is gearing up for a fresh launch after encountering initial setbacks. The developers are diligently addressing the issues that plagued its debut, with hopes of a smoother second attempt. Network Improvement Efforts Underway Following a problematic launch that left the network stalled and funds trapped on a bridge, Shiba Inu's lead developer, Shytoshi Kusama, has provided an update on the project's progress. Kusama revealed that the team has been diligently working to optimize the network, stating, "After two days of testing and tweaking parameters to achieve 'ready' state Shibarium is now enhanced and optimized." This involved the implementation of fail-safe measures to prevent a recurrence of the previous outage. To bolster Shibarium's stability, the development team has introduced a series of further safeguards, including rate limiting at the RPC (Remote Procedure Call) level and an automatic server reset mechanism. These measures are expected to counteract the impact of sudden surges in traffic, which contributed to the network's initial troubles. Testing Success and Initial Hiccups During its testing phase, Shibarium demonstrated its potential by facilitating an impressive 22 million transactions across millions of wallets over four months. However, the official launch encountered severe disruptions. The network suffered an 11-hour transaction stall, leaving funds stranded due to an overload triggered by an unexpected influx of transactions. As reported by blockchain security firm PeckShield, around $1.7 million worth of ETH was stuck in the Shibarium Bridge as a result of the network failure. The development team clarified that the launch failure was not due to a bridge issue, as initially speculated. Instead, the network was overwhelmed by an unprecedented surge in user transactions, causing server failures. The influx of transactions far exceeded the servers' capacity to process them efficiently. Steps Toward Redemption The network has been temporarily closed to the public as the team focuses on resolving the underlying issues. Validators responsible for processing network transactions are now being gradually onboarded to pave the way for the network's reopening. This controlled approach aims to ensure a smoother experience upon relaunch. Shytoshi Kusama's recent update indicates that Shibarium's comeback is on the horizon. Additional validators are poised to join the network, expanding its operational capacity. However, the incident had a short-term impact on SHIB token prices, with a 4.3% drop in the past 24 hours, according to CoinGecko data. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Shiba Inu's much-anticipated Shibarium network, a layer-2 solution built on Ethereum, is gearing up for a fresh launch after encountering initial setbacks. The developers are diligently addressing the issues that plagued its debut, with hopes of a smoother second attempt. Network Improvement Efforts Underway Following a problematic launch that left the network stalled and funds trapped on a bridge, Shiba Inu's lead developer, Shytoshi Kusama, has provided an update on the project's progress. Kusama revealed that the team has been diligently working to optimize the network, stating, "After two days of testing and tweaking parameters to achieve 'ready' state Shibarium is now enhanced and optimized." This involved the implementation of fail-safe measures to prevent a recurrence of the previous outage. To bolster Shibarium's stability, the development team has introduced a series of further safeguards, including rate limiting at the RPC (Remote Procedure Call) level and an automatic server reset mechanism. These measures are expected to counteract the impact of sudden surges in traffic, which contributed to the network's initial troubles. Testing Success and Initial Hiccups During its testing phase, Shibarium demonstrated its potential by facilitating an impressive 22 million transactions across millions of wallets over four months. However, the official launch encountered severe disruptions. The network suffered an 11-hour transaction stall, leaving funds stranded due to an overload triggered by an unexpected influx of transactions. As reported by blockchain security firm PeckShield, around $1.7 million worth of ETH was stuck in the Shibarium Bridge as a result of the network failure. The development team clarified that the launch failure was not due to a bridge issue, as initially speculated. Instead, the network was overwhelmed by an unprecedented surge in user transactions, causing server failures. The influx of transactions far exceeded the servers' capacity to process them efficiently. Steps Toward Redemption The network has been temporarily closed to the public as the team focuses on resolving the underlying issues. Validators responsible for processing network transactions are now being gradually onboarded to pave the way for the network's reopening. This controlled approach aims to ensure a smoother experience upon relaunch. Shytoshi Kusama's recent update indicates that Shibarium's comeback is on the horizon. Additional validators are poised to join the network, expanding its operational capacity. However, the incident had a short-term impact on SHIB token prices, with a 4.3% drop in the past 24 hours, according to CoinGecko data. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Shiba Inu’s lead developer Shytoshi Kusama has announced that the Shibarium layer-2 network is almost ready to reopen to the public after tremendous engineering work.

Shiba Inu's ambitious Shibarium network is making strides toward a public relaunch after a botched debut earlier this month.  In an update shared by the project's lead developer, known by the pseudonym Shytoshi Kusama, it was revealed that the team has been diligently working to rectify the issues that were faced by the network during its initial launch.... Read More: Update: Shiba Inu’s Shibarium Almost Ready to Reopen After Failed Initial Launch

In 2023, the development landscape in the cryptocurrency space witnessed intriguing dynamics. Polkadot and Kusama, both known for their innovative approaches to blockchain interoperability, initially dominated GitHub activity, showcasing their commitment to continuous improvement and technological advancement. This active involvement signaled their dedication to refining their platforms and fostering a vibrant developer community. Cardano Regains […]

At the 5th Blockchain Futurist Conference held in Toronto, Shytoshi Kusama, the pseudonymous lead developer of the Shiba Ecosystem, delivered a rousing keynote speech titled...

Shytoshi Kusama, co-founder of the Shiba Inu ecosystem, blamed a massive influx of transactions and user activity for technical difficulties in Shibarium.

Shiba Inu lead developer Shytoshi Kusama addresses the recent turmoil.

Blockchain security firm PeckShield has reported that around $1.7 million worth of ETH is stuck in the Shibarium Bridge after its launch failed to create a meme coin rally, as was widely expected. The much-hyped and highly anticipated Shibarium Network went live late on Wednesday. ETH Stuck In Limbo Blockchain security firm PeckShield broke the news in a post on social media platform X. The firm stated that around $1.7 million worth of ETH was stuck in the Shibarium Bridge. The news comes shortly after Shibarium, a chain that was designed to facilitate the optimum utilization of dog-themed tokens such as Dogecoin (DOGE), Shiba Inu (SHIB), Bone ShibaSwap (BONE), TREAT, and the much-hyped Doge killer LEASH. Many expected the launch of Shibarium to push the price of these meme coins into orbit. However, things did not go as planned and went sideways quite quickly, with the value of the tokens plummeting. Tokens such as TREAT were down 10%, while the BONE and LEASH tokens were down 17% and 25%, respectively, over the past 24 hours. While the developments have, no doubt, left many new users disappointed. However, recovery is possible as network users adapt and reconcile with the changes. SHIB Plunges By Over 9% The Shiba Inu (SHIB) token dropped nearly 10% as users began reporting widespread bridging issues after the Shibarium network went live on Wednesday. Available data showed that transactions on the network had been stalled for hours, with users transferring around 954 ETH worth $1.7 million and $750,000 worth of BONE tokens to the contract. Additionally, users were also blocked from sending messages on community forums on Discord after reports of the issue began to surface. The Shibarium Mainnet The Shibarium mainnet is an Ethereum Layer-2 scaling solution launched by Shiba Inu on the 16th of August. The launch was initiated after months of testing and participation from millions of users. In the end, around 21 million wallets were created. Shibarium uses a new consensus mechanism called the Proof-of-Participation, which selects validators based on the proportion of the quantity of their holdings in the associated crypto asset. This helps avoid the computational costs typically associated with Proof-of-Work consensus mechanisms. The new Layer-2 solution will interact with the Ethereum blockchain and provide a more scalable and cost-effective transaction platform. Significant Traction Prior to launch, Shiba Inu’s lead developer, who uses the pseudonym Shytoshi Kusama, stated that the new Layer-2 solution has already gained significant traction from new projects interested in building on it. According to a post by the developer on X, over 100 companies are already using the Layer-2 network. Kusama has also noted that people in the tech and blockchain industry are discussing an “everyday app.” However, they added that such innovations must be conducted from a community and decentralized perspective. They further added that Shibarium incorporates both of these principles without compromising on decentralization, interoperability, and user-centric design. Kusama elaborated that while the validator and delegator aspects of the new Layer-2 solution will keep it decentralized, its true innovation lies in the governance, framework, and charter that help govern the nascent ecosystem’s technology, community, and innovative aspects. “By using Shibarium for governance in this system, alongside self-sovereign identity to ensure quality membership (Shibizenship), the metaverse as our territory, and the ability to partner with other like-minded states, we have effectively shattered what nationhood is and rebuilt it upon the Shib ethos of decentralization!” Shibarium will utilize the Heimdall validator and Bor block production nodes, similar to that of the Polygon ecosystem. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Blockchain security firm PeckShield has reported that around $1.7 million worth of ETH is stuck in the Shibarium Bridge after its launch failed to create a meme coin rally, as was widely expected. The much-hyped and highly anticipated Shibarium Network went live late on Wednesday. ETH Stuck In Limbo Blockchain security firm PeckShield broke the news in a post on social media platform X. The firm stated that around $1.7 million worth of ETH was stuck in the Shibarium Bridge. The news comes shortly after Shibarium, a chain that was designed to facilitate the optimum utilization of dog-themed tokens such as Dogecoin (DOGE), Shiba Inu (SHIB), Bone ShibaSwap (BONE), TREAT, and the much-hyped Doge killer LEASH. Many expected the launch of Shibarium to push the price of these meme coins into orbit. However, things did not go as planned and went sideways quite quickly, with the value of the tokens plummeting. Tokens such as TREAT were down 10%, while the BONE and LEASH tokens were down 17% and 25%, respectively, over the past 24 hours. While the developments have, no doubt, left many new users disappointed. However, recovery is possible as network users adapt and reconcile with the changes. SHIB Plunges By Over 9% The Shiba Inu (SHIB) token dropped nearly 10% as users began reporting widespread bridging issues after the Shibarium network went live on Wednesday. Available data showed that transactions on the network had been stalled for hours, with users transferring around 954 ETH worth $1.7 million and $750,000 worth of BONE tokens to the contract. Additionally, users were also blocked from sending messages on community forums on Discord after reports of the issue began to surface. The Shibarium Mainnet The Shibarium mainnet is an Ethereum Layer-2 scaling solution launched by Shiba Inu on the 16th of August. The launch was initiated after months of testing and participation from millions of users. In the end, around 21 million wallets were created. Shibarium uses a new consensus mechanism called the Proof-of-Participation, which selects validators based on the proportion of the quantity of their holdings in the associated crypto asset. This helps avoid the computational costs typically associated with Proof-of-Work consensus mechanisms. The new Layer-2 solution will interact with the Ethereum blockchain and provide a more scalable and cost-effective transaction platform. Significant Traction Prior to launch, Shiba Inu’s lead developer, who uses the pseudonym Shytoshi Kusama, stated that the new Layer-2 solution has already gained significant traction from new projects interested in building on it. According to a post by the developer on X, over 100 companies are already using the Layer-2 network. Kusama has also noted that people in the tech and blockchain industry are discussing an “everyday app.” However, they added that such innovations must be conducted from a community and decentralized perspective. They further added that Shibarium incorporates both of these principles without compromising on decentralization, interoperability, and user-centric design. Kusama elaborated that while the validator and delegator aspects of the new Layer-2 solution will keep it decentralized, its true innovation lies in the governance, framework, and charter that help govern the nascent ecosystem’s technology, community, and innovative aspects. “By using Shibarium for governance in this system, alongside self-sovereign identity to ensure quality membership (Shibizenship), the metaverse as our territory, and the ability to partner with other like-minded states, we have effectively shattered what nationhood is and rebuilt it upon the Shib ethos of decentralization!” Shibarium will utilize the Heimdall validator and Bor block production nodes, similar to that of the Polygon ecosystem. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The recently-revealed book of Shytoshi Kusama costs a whopping 1 ETH if you want it signed.

LEASH holders are not happy with Shytoshi Kusama's much-hyped initial announcement.

Kusama has confirmed that Shibarium is nearly complete, while also revealing another important partnership.