Will Shiba Inu and Shibarium Survive Sensational Copycat Rumor?

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Shibarium, the much-awaited layer two of Shiba Inu (SHIB), is now embroiled in drama due to allegations that its code was copied. Conversations lifted from Bone’s Discord channel show concerns that the Shibarium testnet might have the same chain ID as another blockchain project.

Shibarium has been on the radar of crypto enthusiasts since it will elevate SHIB’s status from being a meme coin to a digital asset with a lot of utility. The planned upgrade caused Shiba Inu’s price to pump recently.

Is Shibarium a Copycat?

The alleged Discord conversations were shared on Twitter by user “Rancune” (@Rancune_eth).

HOLY SHIT. Serious escalation in official $SHIB discord.

Shibereum is a ripped chain from Rinia, they forgot to change chain ID.

Mod tells us about manipulation and silencing. $bone $shib $leash## pic.twitter.com/Lw8IDidDqA
— Rancune (@Rancune_eth) March 16, 2023

A discord participant named Steve said that it looks like the Shibarium testnet has taken the Rinia testnet genesis file. Developers changed the project name but forgot to change the chain ID. He also said that using an existing chain ID is just incompetent since everybody will just interact with the original chain instead of the copycat.

A chain ID is a unique identifier for a blockchain network. It is typically used to distinguish between different networks and prevent cross-chain transactions. It can be compared to a mobile number, wherein each person has a different set of digits. A developer copying another project’s chain ID is like giving another person’s phone number.

Shiba Inu Price Tumbles

Many crypto projects are retracing at the time of writing, with BTC at around -1 in the last 24 hours. Shiba Inu is currently at -7.5% from yesterday. SHIB’s price action might be following the general market sentiment, but the allegation surrounding Shibarium is not helping with the price action.

CRYPTONEWSBYTES.COM image.psd1_ Will Shiba Inu and Shibarium Survive Sensational Copycat Rumor? — Image from Coingecko

Will Shibarium Make or Break Shiba Inu?

Shibarium is a chance for Shiba Inu to be upgraded from its meme coin status to a project with utility. The benefit of cheaper gas fees, faster transactions, and scalability while still being secured by the Ethereum network sounds like a great promise. But how can users believe in a project that is accused of copying another blockchain project’s code?

Developers behind Shibarium should clarify the issue with the chain ID as soon as possible. They should address it concretely instead of giving out long and vague answers. Otherwise, Shiba Inu might remain a meme coin in the foreseeable future.

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