Shiba Inu: New Blockchain Project and Encryption Integration – Innovative Plans for the Future

Shiba Inu team secures $12 million for Layer 3 blockchain project development, introducing TREAT token. Plans include Shibarium-based blockchain with homomorphic encryption and enhancements for the ecosystem. Despite stable SHIB token price, investors await developments. Shibarium platform faces temporary outage, now restored for user engagement.

Shiba Inu Team Raises $12 Million for New Layer 3 Blockchain Project
The Shiba Inu (SHIB) team, known for the popular cryptocurrency token, has announced the impressive achievement of raising $12 million for the development of a new Layer 3 blockchain project. The funds were gathered through the sale of the upcoming TREAT token to renowned foreign investment firms such as Polygon Ventures, Mechanism Capital, and Animoca Brands.

Shiba Inu Plans to Implement Shibarium-Based Blockchain

The Shiba Inu company is leading a project aimed at creating a Layer 3 blockchain based on the Shibarium platform, built on the Layer 2 Ethereum blockchain. The TREAT token will be utilized for utility functions and managing the new Shiba Inu blockchain.

Homomorphic Encryption Integration for Privacy Assurance

One of the innovative steps of the project is the integration of fully homomorphic encryption from the renowned cryptographic company Zama with the blockchain. This is intended to provide users with a high level of privacy and security while engaging with the Shiba Inu ecosystem.

Planned Enhancements for the Shiba Inu Ecosystem

The funds raised in this financing round will be allocated to the development of the Layer 3 blockchain to enhance the capabilities of the Shiba Inu ecosystem. The introduction of the new Shi token and the launch of the new blockchain’s testnet in the third quarter of this year are planned, followed by the full network deployment.

Shiba Inu Ecosystem – Role of SHIB, BONE, and LEASH Tokens

Within the Shiba Inu ecosystem, there are three main tokens: SHIB, BONE, and LEASH, each serving a unique function. The LEASH token offers additional benefits for the most dedicated supporters of Shiba Inu, making the overall ecosystem appealing to users seeking diversity and participation benefits.

Current Situation in the SHIB Market

Despite positive news and ongoing developments regarding the new blockchain, the price of the SHIB token has not significantly changed in the last 24 hours. Investors are closely monitoring the market and project progress, awaiting potential changes in the cryptocurrency’s valuation.

Shibarium Platform Activation after Temporary Outage

The Shibarium platform recently experienced a temporary outage due to network issues among validators. The network has now been restored to normal operation, although some services may still be unavailable. The team is working on stabilizing the platform to ensure users can smoothly engage with the Shiba Inu ecosystem.