The Shiba Inu community is divided over the network’s Shibarium upgrade after some members raised concerns that the Chain ID is copied from another blockchain called Rinia. However, some claim that only some individuals managed the multi-sig address.
Disagreements Over Shibarium’s Uniqueness
Per reports, the Shiba Inu Discord community is discussing the origin of Shibarium, the network’s Layer-2 scaling solution. Some community members claim it is a replica of the Rinia Chain, and the ID remains unchanged.
Furthermore, according to a tweet from a member of the Shiba Inu community, the token developer is accused of manipulation against the team and the ecosystem to do what he wants. Meanwhile, Shytoshi Kusama, the lead developer of the Shibarium project, has reportedly responded to the allegations of manipulation.
He noted that the allegations were mere speculations, adding that they were an attempt to discredit the development team’s effort. However, the main reason for the community’s disagreement is that the Shibarium’s Chain ID is the same as that of the Rinia blockchain.
The discussion reached a tipping point when others asked for proof to ascertain whether nine individuals managed the multi-sig. Meanwhile, one individual debunked the narration that nine people are running the multi-sig address.
The crypto ecosystem believes this issue may impact the live launch of the Shibarium. With the latest development, the network may have to take careful steps to clear the air on the issue before the official launch date.
Will SHIB Price Drop Further?
Despite the severity of the allegations on the network’s Discord server, no official statement has been released yet. Observers are still unclear whether this would affect the upcoming launch of the Shibarium protocol.
Moreover, Shiba Inu has taken some steps towards the launch of Shibarium by introducing a portal. At the same time, Binance.US reportedly announced that it is offering full support for the meme token.
According to SHIB enthusiasts, the allegations may cause the token’s price to drop further. Last month, the token dropped 33%, with experts expecting the value to dip further.
At the start of the year, the price of Shiba Inu rallied to 60% to trade at $0.00001294, the asset’s highest value since last November. However, the gains started to die due to the broader positive macroeconomic impact that triggered similar rallies in some parts of the crypto market.
Apart from this, SHIB’s price reportedly picked up momentum as investors evaluated the token’s prospects following the announcement of the Shibarium upgrade in January. As a Layer-2 solution, Shibarium allows developers to build and launch decentralized applications (dApps) with low transaction fees and enhanced network scalability.
So far, the upcoming Shibarium update is expected to usher in further price uptrend for the popular meme cryptocurrency.