coingabbar.com
The second most held cryptocurrency in the world is facing extreme FUD after the community discovers that Shibarium blockchain ID is similar to Renia Network.
The beta version of Shibarium was released last week, which operates as a layer 2 network built on top of layer 1 protocols. However, a community member on Shiba Inu's Discord channel raised concerns on Thursday about Shibarium's beta testnet using the same Chain ID as an existing Rinia Network.
Shiba’s discord was filled with messages asking the developers to clear their doubts as they have taken an entire year and $12 million in the development of the Shibarium network. But the developers could not answer the questions clearly and blamed the competitors for spreading FUD against the community.
Finally, Shytoshi, the lead developer of Shiba Inu, came forward to give a page-long official clarification on the issue. However, no concrete reason was given behind the intent to hard fork the Rinia blockchain for the Shibarium testnet.
Transparency concerns have been raised in the Shiba Inu meme coin's development team. Trophias, who worked on Shibarium, claims the chief developer, Shytoshi Kusama, misled the team and fired them after forbidding communication. Another team member has denied these allegations. The situation has led to questions about the team's transparency and communication.
According to the on-chain data, more than 5 million Bone tokens have already been unstaked from the ecosystem and the FUD is expected to last longer until and unless a strong comeback is made from the community.
The controversy has taken up the internet by storm with thousands of users tweeting about the new developments in the case. It would be interesting to see how things will unfold and how it will impact the future of the Shibarium network and the projects associated with it.
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