The Shiba Inu ecosystem is embarking on a major advancement as it introduces its own Layer 3 network. In a recent update, Lucie, a member of the SHIB team, shed light on various tokens and dApps within the ecosystem, with a particular focus on the much-awaited Layer 3 network. The ecosystem boasts unique assets and dApps like SHIB, LEASH, BONE, Shiboshis, and ShibtheMV, with upcoming launches of TREAT and SHI. Lucie also touched upon Shiba Inu’s dApps such as ShibaHub, ShibaSwap, and Shiba Eternity, all residing on Shibarium, and the SHIB name service in collaboration with D3inc. The highlight of Lucie’s update was the announcement of Shiba Inu’s very own Layer 3 network, currently in the works.
The development of Shiba Inu’s Layer 3 network involves a collaboration with Zama, an open-source cryptography company. This network, yet to be named, will leverage Fully Homomorphic Encryption (FHE), a privacy tool enabling developers to utilize data on untrusted domains without decryption, ensuring security and privacy. The application of FHE is anticipated to benefit all Shiba Inu tokens and projects, from Bone to Treat, the Metaverse to Shibdentity. Shiba Inu’s plans for a new privacy-focused network on top of the Shibarium blockchain were announced earlier this year, with the upcoming TREAT token set to power this “new privacy layer.” This initiative aims to enhance on-chain privacy for SHIB token holders while safeguarding their personal and transactional data.
The Shiba Inu ecosystem continues to expand and innovate, with developments like the Layer 3 network signaling a significant step forward. Lucie’s update provided a glimpse into the diverse range of assets and dApps available within the ecosystem, hinting at future additions like TREAT and SHI. The presence of dApps like ShibaHub, ShibaSwap, and Shiba Eternity highlights the ecosystem’s commitment to providing a comprehensive platform for users. Additionally, the collaboration with Zama for the development of the Layer 3 network underscores Shiba Inu’s dedication to incorporating cutting-edge technology for the benefit of its community.
As Shiba Inu progresses towards the introduction of its Layer 3 network, the focus on privacy and security becomes paramount. The utilization of Fully Homomorphic Encryption (FHE) in the upcoming network is a testament to Shiba Inu’s commitment to safeguarding user data and ensuring a secure environment for its tokens and projects. With the impending launch of the TREAT token to power the new privacy layer, Shiba Inu aims to provide enhanced privacy features for SHIB holders while maintaining the integrity of their personal and transactional information. This initiative reflects Shiba Inu’s proactive approach to addressing the evolving needs of its ecosystem and community.
The collaboration with Zama on the development of the Layer 3 network signifies a strategic partnership aimed at leveraging expertise in cryptography and encryption technologies. By incorporating cutting-edge tools like FHE, Shiba Inu demonstrates its willingness to embrace innovative solutions for enhancing security and privacy within its ecosystem. The upcoming launch of the privacy-focused network on Shibarium, powered by the TREAT token, represents a significant milestone in Shiba Inu’s journey towards creating a robust and secure environment for its users. As the ecosystem continues to evolve, the implementation of advanced encryption technologies serves as a testament to Shiba Inu’s commitment to staying ahead of the curve in the rapidly changing landscape of blockchain and cryptocurrency.
