The latest version of ComingChat was launched last Wednesday, providing users with the tap interface of the Bitcoin testnet Signet. Subsequently, millions of ComingChat users from all over the world visited the faucet and received the testnet token sBTC. Because there are too many ComingChat users and everyone is very enthusiastic about sBTC, hence the Signet faucet webpage cannot be accessed many times.
The creator of the Bitcoin testnet Signet is Kalle Alm, who is a Bitcoin core contributor, BIP editor, creator of btcdeb, and author of BIP 322, 325, etc.
Facing the sudden increase in faucet visits, Alm noticed something abnormal and discovered what ComingChat was doing. ComingChat enables more people to use sBTC to test Bitcoin’s new technology, which coincides with Alm’s original intention. Alm stated on Twitter that he will restore the sBTC faucet page as soon as possible.
Unexpectedly, a tweet by Guanghua Guo, CEO of ComingChat, caused controversy. Guo tweeted “Which is more valuable, sBTC or LTC?”
It was this sentence that caused a great controversy. Alm replied to guanghua guo: sBTC is just a test coin and it is worthless.Those who claim that sBTC has a price are scammers.
Another Bitcoin Core contributor Martin Zumsande said that ComingChat tried to turn Signet into a kind of shitcoin.
Bitcoin core developer orionwl was surprised by ComingChat, a social product with sBTC wallet functions.
Warren Togami (VP solutions at blockstream, founder of Fedora) believes that in order to prevent someone from being cheated, Signet should be reset.
Orionwl suggested: Maybe Signet should adopt Proof-of-Stake.
Guanghua explained that I am not talking about the price of sBTC. I am referring to its role. As the testnet token of Bitcoin, people can use it to test new Bitcoin technology. My idea is to connect sBTC to ComingChat so that more than three million users around the world can personally experience the threshold signature wallet using Taproot.
Warren Togami then asked Guanghua to correct the wording. He believes that the term Value may mislead people.
Justine Harper, vice president of Unchainedcap, is even more blunt, she says,please stop attacking it (to the sBTC tap).
The controversy attracted more Bitcoin Core developers. Matt Corallo (the tenth contributor to Bitcoin Core), Wiz (memepool core developer), Andrew Chow (Bitcoin core contributor) and others participated in the debate and the have expressed their views.
In the face of doubts from Bitcoin developers, Guanghua said: We will not hype sBTC. As the second layer of Bitcoin network, ChainX is committed to realizing cross-chain transactions of Bitcoin. After the users despoit bitcoin, the assets are kept by the multi-signature address of the trust node. After the users initiates the withdrawal, the trust node needs to perform multi-signature to verify it. We are applying Bitcoin’s Taproot technology to this multi-signature process, but before that, we have to test it on ChainX’s testnet SherpaX. It is too expensive to test directly using BTC, so SherpaX chose Signet’s sBTC to test the Bitcoin cross-chain transaction process using Taproot technology.
ComingChat’s sBTC threshold wallet is the perfect entrance for SherpaX to realize sBTC cross-chain transactions. Users can directly use ComingChat’s sBTC threshold wallet to experience the Bitcoin cross-chain transaction process using Taproot technology. I really appreciate the work Alm has done. He has developed a great testnet. But there may be some misunderstandings here. Our starting point is the same, everything is for Bitcoin. So in my opinion, ComingChat has done a very meaningful thing.
For the ComingChat user group, Guanghua said: We hope that everyone can actively experience ComingChat’s sBTC threshold signature wallet. For those participants, we will issue a certain CIDNFT as a reward.