Shiba Inu Price Falls 10% as Rumors Emerge That Shibarium Code was Stolen
Shiba Inu price was down 10% in the last 24 hours, data shows. There are rumors that Shibarium code was stolen.
Shiba inu’s (SHIB) price fell 10% in the past 24 hours amid drama surrounding the codebase of the upcoming Shibarium blockchain.
The much-awaited Shibarium blockchain released its beta version for the layer 2 network last week. A beta testnet is a blockchain that mimics real-world functioning. Layer 2 refers to a set of off-chain systems (separate blockchains) built on top of layer 1 protocols that reduce bottlenecks with scaling and data.
However, the euphoria surrounding the launch paused on Thursday morning after a top-ranked community member on Shiba Inu’s Discord channel flagged concerns. The concerns came from Shibarium beta testnet using the same Chain ID as an existing blockchain.
“Chain ID is the simplest thing any Blockchain dev looks for first when deploying a Blockchain,” community member Steve wrote. “As using an ID that already exists is just incompetent as your chain wouldn’t work properly and everyone trying to interact with your chain would instead interact with the other chain.”
“Why is it that it looks like shibarium test net has taken rinia testnet genesis file. Changed the name from renia. But forgot to change the chain ID,” Steve added.
Developers and other prominent community members were quick to address the concerns. “There is absolutely no evidence that this is a fork of a chain that launched last month,” wrote one JesusM on the Discord channel. “Code is forked all the time. Moreover, there is no confirmation that it was.”
Discord user “Justinlime,” another network validator, chimed in: “Even if some of the code was used in the beta does not mean all of it was. To me it’s very doubtful that it’s a direct fork with nothing changed. Forking, and building upon already established software, is the core foundation of what FOSS (free and open source software) stands for.”
Shiba Inu ecosystem’s tokens LEASH and BONE were also dropped more than 10% in the last 24 hours at the press time.
Read More:
Will Pi Network Ever Launch? What Stage is Pi Network Now?
Is Pi Network Legit Or Scam: Pi Cryptocurrency Real Or Fake?
Pi Network Launch Date: When Will Pi Coin Enter The Market?
Pi Coin Price Prediction: Will Pi Ever Be Worth Money?
Luna Classic Price Prediction: Will Luna Classic Reach $1?
Ethereum Price Prediction 2025-2030
HBAR Price Prediction 2025, 2030
Blur Price Prediction 2023, 2025, 2030
Polygon MATIC Price Prediction 2023, 2025, 2030
XRP Price Prediction $500: Can XRP Reach $500 Dollars?
The Sandbox Price Prediction 2025, 2030
Will Shibarium Burn Remove 111 Trillion SHIB Annually?
Wild Cash App by Hooked Protocol: Answer Quiz to Earn $HOOK
ChargePoint Stock Forecast for 2023, 2025, 2030
Sofi Stock Price Prediction for 2023, 2025, 2030
Gasoline Price Prediction 2023-2030: What Will It Be in Five Years?
ADA Cardano Price Prediction 2025, 2030
Register now to begin your crypto journey
Download the BTCC app via App Store or Google Play
Follow us
Scan to download
Exchange for a better future
- Products
- Terms & Agreement
- Customer Service
Quick Links
Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
The world’s longest-running cryptocurrency exchange since 2011 © 2011-2023 BTCC.com. All rights reserved