Shibarium’s Layer2 Solution and its Suspected Chain ID Connections

03/16/2023 04:32 • Digital Disruptors • 87 views

According to reports, Twitter user @ Rancune_ ETH disclosed that the chain ID shown in the preview image of Shibarium, a Layer2 solution launched by Shiba Inu, was found to be the same as that of Rinia. In addition, the project team was also found to have unlocked the $5 million Shibarium token BONE.

Twitter user: Shibarium or plagiarizing Rinia, $5 million BONE unlocked

Analysis based on this information:

Twitter user @Rancune_ETH recently made a revealing disclosure that the chain ID shown in the preview image of Shibarium is the same as that of Rinia. This discovery highlights a connection between the two projects, which is a significant development for the cryptocurrency industry.

Shibarium is a Layer2 solution launched by Shiba Inu. This solution is designed to provide faster and cheaper transactions through enhanced scalability, which is a crucial aspect in blockchain technology. It is meant to solve the scalability issue that many blockchain networks currently face, which slows down transaction processing time.

The discovery of Shibarium’s chain ID being the same as Rinia’s chain ID is intriguing, especially considering the differences between the two projects. Rinia is a decentralized exchange that offers fast and low-cost transactions, whereas Shibarium is a Layer2 solution designed to offer faster and cheaper transactions. Even the tokens for both projects are different. Rinia has its Rinia token, while Shibarium has its BONE token. Therefore, the connection between the two projects raises questions as to the motives behind their chain ID similarities.

Moreover, the project team seems to have unlocked the $5 million Shibarium token BONE, which adds more intrigue to the disclosure. While unlocking such an amount of tokens may not be a red flag in and of itself, it does raise eyebrows, particularly given the connection to Rinia.

In conclusion, the discovery of Shibarium’s chain ID being the same as Rinia’s raises questions regarding their connection and the motives behind it. The fact that the Shibarium project team has unlocked $5 million BONE is also cause for more scrutiny. This disclosure will likely trigger more investigations into the two projects and their connections, and it may serve as a significant development in the cryptocurrency industry.

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Shibarium’s Layer2 Solution and its Suspected Chain ID Connections

Twitter user: Shibarium or plagiarizing Rinia, $5 million BONE unlocked

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