Shiba Inu (SHIB) Tumbles 7% on Concerns About Shibarium Code
One of the leading memecoins – Shiba Inu (SHIB) – saw its price tumble throughout the past 24 hours. At the time of this writing, it’s down by about 7%.
This comes as some users found out that the chain ID of Shiba Inu’s blockchain – Shibarium – is the same as that of another network.
- Speaking on the matter was a user who outlined that checking the chain ID is one of the simplest things that developers can do when they are first deploying a network.
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’s test net has taken rinia testnet genesis file. Changed the name from rinia. But forgot to change the chain ID.
- As CryptoPotato reported earlier in March, the release of the testnet was a pivotal moment for the community. Speaking on the matter was the lead developer, Shytoshi Kusama, who said:
It will allow us to meet the army and remain organized in the process. It will allow us to grow Shibarium’s reach with professional companies, and allow us to reset our relationship with businesses that we’ve contacted too in the past. Finally, it will help us find the right validators.
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I’m a journalist who specializes in investigative reporting and writing. I have written for the New York Times and other publications.