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HomeCrypto NewsMarketShiba Inu (SHIB) Ranks Second As Most Secure Crypto Project on CertiK

Shiba Inu (SHIB) Ranks Second As Most Secure Crypto Project on CertiK

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CertiK places Shiba Inu as the second most secure cryptocurrency.

Shiba Inu (SHIB) has been ranked as the second most secure cryptocurrency project on the CertiK security Leaderboard. 

According to data from CertiK, a security research firm focused on the crypto, web3, and DeFi industries, Shiba Inu, obtained a trust score of 93%.

Shiba Inu is only behind Ethereum scaling solution Polygon in the CertiK security Leaderboard. The cryptocurrency is ranked ahead of other top cryptocurrency projects such as Aave (AAVE), ApeCoin (APE), Decentraland (MANA), PancakeSwap (Cake), and Axie Infinity (AXS).

Aside from being ranked as the second-most secure cryptocurrency project, Shiba Inu has three honors from Certik, including the Top 10% trust score and top 10% watch listed.

“The Trust Score delivers the simplicity users need to make informed decisions,” CertiK said in a recent tweet. 

It is noteworthy that this is not the first time CertiK is rating Shiba Inu as a secure cryptocurrency project. In May 2022, CertiK rated Shiba Inu’s decentralized exchange ShibaSwap as the second most secure cryptocurrency project. This came after ShibaSwap attained a security score of 95%.

Besides Shiba Inu’s security aspect, the token is ranked as the most popular cryptocurrency on CertiK’s security Leaderboard. Shiba Inu is closely followed by Terra Luna Classic (LUNC) in the rankings.

CertiK’s Security Analysis

CertiK is one of the top security companies in the cryptocurrency industry. Since its inception, the security architecture of CertiK has been used to audit a total of 3,328 crypto-related projects, with a combined market capitalization of $364 billion. 

Skynet, a security intelligence platform, powers CertiK’s security research of crypto projects. The company just completed an audit of Aptos, a PoS network that recently launched its mainnet.

Importance of Maximum Security to Shiba Inu

The importance of security cannot be overemphasized in the cryptocurrency industry, given the number of unfortunate incidents that have occurred in the past.

Billions of dollars worth of cryptocurrencies have been carted away by malefactors who are always looking to exploit loopholes in projects.

It is good that Shiba Inu is taking its security seriously, which has helped it to rank among the top 10 most secure cryptocurrency projects by CertiK on different occasions. This would boost investors’ confidence in the project, thus leading to widespread adoption of the asset class. 

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Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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