Kaal Dhairya, a top Shiba Inu ecosystem developer, has expressed confidence about the future growth of Shiba Inu ecosystem projects, specifically Shibarium and SHIB.
In a post today, Dhairya called attention to a game-changing development in the ecosystem that has the capability to bolster the widespread adoption of SHIB and Shiba Inu’s L2 blockchain solution, Shibarium.
The Shiba Inu developer emphasized that the “next billion users” in the crypto space are expected to be on Shibarium and adopt SHIB.
Game over, the next billion users are going to be on #Shibarium and $SHIB, #zama #FHE https://t.co/fpu8PIHKkI
— Kaal (@kaaldhairya) February 28, 2024
Shiba Inu Partners With Zama
Dhairya made this known in reaction to Shiba Inu’s partnership with Zama. This Paris-based open-source cryptography firm specializes in developing cutting-edge Fully Homomorphic Encryption (FHE) solutions tailored for blockchain and artificial intelligence (AI) applications.
The partnership was revealed in the 14th edition of the Shib Magazine, with the Shiba Inu team describing the alliance as “the dawn of a safer blockchain era.”
According to the team, the partnership is centered on securing the future of the Shiba Inu ecosystem by proactively addressing emerging threats, promoting innovation, and allowing developers to forge the next wave of secure and privacy-centric applications.
It bears mentioning that in the traditional setting, working with encrypted data requires one to decrypt it, thus leaving the data vulnerable to security breaches.
However, with Zama’s FHE solution, encrypted data can be worked on without decrypting it. Notably, Zama’s FHE solution offers end-to-end encryption for all online activities.
Benefit for Shiba Inu
By utilizing Zama’s encryption technology, Shiba Inu can enhance privacy across all projects, secure transaction confidentiality and user interactions, and future-proof the ecosystem from emerging threats.
Besides enhancing the Shiba Inu ecosystem’s security, the Zama partnership highlights the team’s commitment to establishing secure and reliable projects for SHIB enthusiasts.
Interestingly, the team disclosed that all upcoming projects leveraging Zama’s technology will run on TREAT, an upcoming multi-purpose Shiba Inu ecosystem token.
Additionally, lead developer Shytoshi Kusama also stressed that other Shiba Inu ecosystem tokens and projects, including SHIB, BONE, Shibdentity, and Shibarium, will benefit from FHE’s integration.
FHE to Enhance Shibarium Adoption
Meanwhile, Shibarium has continued to record widespread adoption from crypto enthusiasts. Less than a year after its launch, the network has processed over 385 million transactions and minted 3.42 million blocks, with more than 1.36 million wallets connected.
Over the past 24 hours, the L2 blockchain has processed over 2.2 million transactions. The network’s low fees have played a significant role in luring new users to the platform.
According to the team, Shibarium fees are as low as 0.0000219 BONE ($0.00001), beating other prominent blockchains like Bitcoin and Ethereum.
Shibarium’s adoption is expected to spike soon as the team integrates Zama’s FHE solution into the Shiba Inu ecosystem. This way, developers can conveniently work on encrypted data without decrypting it beforehand.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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