Prices for Shiba Inu (SHIB) have dropped 10% over the last day due to controversy over the Shibarium blockchain’s codebase.
Last week, as CoinDesk reported, the much-anticipated Shibarium blockchain made its layer 2 network beta version available.
A blockchain that simulates real-world operation is called a beta testnet. On top of layer 1 protocols, layer 2 refers to a collection of off-chain technologies (distributed blockchains) that alleviate scale and data bottlenecks.
Thoughts were raised on Thursday morning on Shiba Inu’s Discord channel, and the excitement around the launch was put on hold. Shibarium’s beta testnet leveraging an existing blockchain’s Chain ID raised issues.
When implementing a blockchain, “Chain ID is the easiest thing each Blockchain engineer searches for first,” commented community member Steve. Because your chain wouldn’t function properly if you used an ID that already exists, everyone attempting to communicate with it would instead interact with the other chain.
Why does it appear that the rinia testnet genesis file has been stolen by the Shibarium test net? the name was changed from renia. but neglected to update the chain ID,” Steve continued.
Developers and other well-known community members responded quickly to the issues. One JesusM posted on the Discord channel, “There is absolutely no indication that this is a fork of a chain that began last month. “Code is constantly forked. Nevertheless, there is no proof that it was.
Another network validator and Discord user named “Justinlime” added, “Even if some of the code was used in the beta does not indicate all of it was. It seems quite unlikely to me that it is a direct fork with no changes. What FOSS (free and open source software) stands for at its core is forking and improving upon already existing software.
At the time of writing, the BONE and LEASH tokens from the Shiba Inu ecosystem had also fallen more than 10% in the previous day.