TLDR
- Shibarium now hosts over 30,000 smart contracts and 272 million wallets.
- Public RPC endpoint is down for two weeks to reduce node reliance.
- 4.6 million BONE were used in a failed takeover via a compromised key.
- Over 1.54 billion transactions have been processed on Shibarium so far.
Shiba Inu developers have deployed a new upgrade to the Shibarium blockchain network to strengthen security and reduce central points of failure. The decision follows growing concerns around possible future attacks, as the platform recovers from a validator key breach earlier this year. Shibarium’s public RPC endpoint will remain offline for two weeks as part of the update.
Shibarium Security Upgrade Targets Decentralization
The Shiba Inu development team has rolled out a new update for the Shibarium network. The upgrade is designed to improve security, strengthen decentralization, and reduce reliance on public RPC nodes.
According to John Doe, Shibarium’s engineering manager, the network will temporarily disable its public Remote Procedure Call (RPC) endpoint for two weeks. RPC is the method through which wallets, smart contracts, and decentralized applications communicate with the blockchain.
“This measure isn’t about restricting access but about encouraging a more resilient, decentralized infrastructure,” said Doe.
By disabling the legacy public RPC endpoint, developers aim to prevent potential abuse or overload of a small number of nodes. This step is also expected to motivate more community-run nodes and support better network health.
Response to Previous Validator Key Incident
This upgrade comes as Shibarium continues to address the aftermath of a security event in September. During the incident, a validator key was compromised, allowing an unauthorized party to attempt to control the network.
The attacker used a short-term 4.6 million BONE token delegation in an effort to gain access to validator functions. Shibarium’s development team quickly responded by halting operations to avoid possible data corruption.
Developers confirmed that the core protocol itself remained secure. However, they introduced multiple countermeasures after the incident. These include blacklisting suspicious validators and enforcing a seven-day withdrawal period on the Plasma Bridge.
After implementing the fixes, operations resumed, and bridging for the BONE token was reactivated. Since then, the team has been working on additional upgrades to prevent similar threats in the future.
Strong Network Activity Despite Challenges
Despite the recent security concerns, Shibarium continues to see high usage. The network now hosts over 30,000 smart contracts and 272 million wallet addresses. It has processed more than 1.54 billion transactions to date.
In the past 24 hours alone, Shibarium recorded nearly 8,400 transactions involving close to 300,000 active users. These numbers suggest that community engagement remains steady, even during times of uncertainty.
BONE, the governance token of the Shiba Inu ecosystem, has also shown consistent activity. On-chain data shows more than 4.69 million transfers, which reflects ongoing use across the network.
T. Rowe Price Files for Shiba Inu ETF as Price Declines
In a separate development, investment firm T. Rowe Price submitted a filing with the U.S. Securities and Exchange Commission (SEC) for a new spot cryptocurrency ETF. The proposed fund includes exposure to Shiba Inu, along with Bitcoin, Ethereum, and Solana.
This marks one of the first public filings in the U.S. to include Shiba Inu in a regulated fund structure. The move suggests growing institutional interest in the token, despite market volatility.
However, Shiba Inu’s price declined during October, marking its first monthly loss since launch. The token dropped by around 15% and briefly traded at $0.0000087 during a broader market downturn.
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