Bitrabo Editorial
In a comprehensive update, Lucie, a prominent member of the Shiba Inu team and head of marketing, has outlined several significant developments and accomplishments for the project in 2024. One of the key achievements highlighted by Lucie is the successful introduction of Shibarium, an innovative layer-2 blockchain solution by Shiba Inu designed to enhance scalability and transaction efficiency.
These advancements underscore Shiba Inu’s unwavering commitment to growth and innovation, positioning the project for sustained success in the swiftly evolving cryptocurrency landscape.
Key Progress for Shiba Inu in 2024
Lucie, a team member of Shiba Inu, initiated the discussion with Shibarium blockchain solution. Lucie emphasized that the solution has made significant progress since its inception, enhancing the scalability and efficiency of the Shiba ecosystem.
Introduced in August 2023, the blockchain represented a substantial milestone for the project’s ecosystem, attracting millions of users within its initial weeks. Shibarium aims to address scalability issues that have plagued the Shiba Inu ecosystem.
With a notable reduction in transaction fees, Shibarium aims to alleviate users’ longstanding concerns regarding Ethereum’s high gas costs, suggesting that Shibarium could position Shiba Inu as a robust contender in the DeFi space.
Another highlighted development is SHIBdentity, an initiative introduced by the team to herald a new era of digital identity. It aims to empower users with full control over their digital identity using verifiable and trusted credentials.
Furthermore, it offers real-time communication, spam mitigation, and private peer-to-peer chat. To facilitate human-readable names and promote friendly messaging, SHIBdentity will need to interact with Shib Name Service (SNS).
The subsequent significant development is the launch of Shiba Inu’s SHEboshis Non-Fungible Tokens (NFT) collections. These collections pave the way for hybrid tokens that offer shared ownership and uniqueness for NFT enthusiasts.
The SHEboshi collections comprise 20,000 distinct artworks, released as a DN404/ERC-404 token on the Ethereum network, embodying creativity, artistry, and the ethos of the SHIB community as a bold step into the future.
Anticipated Layer 3 Blockchain
Lucie also highlighted the project’s highly anticipated Privacy-Focused Layer 3 Blockchain Development. This layer 3 blockchain aims to enhance user privacy by enabling computations on encrypted data without requiring decryption.
Thus far, the team has successfully raised $12 million in funding for the blockchain’s development. In an investment round, the upcoming TREAT was sold to a consortium of venture capital firms, including Animoca Brands, Polygon Ventures, Big Brain Holdings, and Shima Capital.
Lucie also emphasized Shiba Inu’s participation at the Token2049 conference in Dubai as a significant accomplishment for the project this year. In mid-April, Shiba Inu participated in the event as a gold sponsor.
Lastly, the integration of ShibaSwap, the native decentralized exchange (DEX) of the Shiba Inu ecosystem on the Shibarium blockchain, was underlined by the marketing lead. A crucial aspect of this integration is to empower users to directly impact the solution’s ecosystem by creating new liquidity pools for desired tokens.