Busted: Bitcointalk User Publishes Evidence of LocalCoin DEX Plagiarizing Whitepaper
A Bitcointalk user ICOEthics has brought up issues concerning a whitepaper plagiarism by decentralized crypto exchange Localcoin.
The exchange has come under attack since then as users have created a discussion thread on the matter, with the aim of finding out the truth behind the issue.
In their defense, a representative of the exchange said the whitepaper was outsourced so the company is not at fault, rather, it was the fault of the paid writer. However, this only worsened the argument as the contracted writer said the material used for writing the whitepaper was provided by Localcoin and so it is responsible for the plagiarism. Bitcointalk users however conclude that Localcoin is at fault.
“So, we do point the finger to the plagiarized whitepaper owners. We opened this thread so you can discuss and provide evidence to your public and investors and try to convince them that it is not “your fault” and you are “not responsible” for that plagiarized whitepaper. If you wrote or someone else wrote the whitepaper for you, in the end, your company/project is the only one responsible for everything.”
This is not the first time such an allegation has come up. Tron, the mighty smart contract and dapps platform was also accused of plagiarising codes from other cryptocurrency projects. However, this has not had any impact on Tron despite the fact that the issue was reported by researchers from Digital Asset Research (DAR), not Bitcointalk users.
Majorly, Tron was accused of plagiarising codes for Ethereum, the blockchain project from which it emerged, but altered file names to make their sources untraceable. Although DAR spoke about the technical and legal consequences Tron was likely to face, the company has not been faced with any legal or technical issue till date.
Bitcointalk users have questioned the credibility of a decentralized exchange that has to outsource its whitepaper and if it should be trusted. The whitepaper author simply known as Dexter has not responded to a request to speak with him.
Localcoin is a cryptocurrency exchange backed by an ICO. it is a decentralized exchange (DEX) that was launched in March 2019. Bitcointalk users say it is a fork of Bitshares and has been rebooted from the old Localcoin. Could this be the end of Localcoin or will it go scott free like Tron? What is your take on this and how will it affect the exchange?