Shiba Inu’s New Encryption Step Enhances User Privacy in Expanding Shibarium 🔒
The Shiba Inu ecosystem is implementing Zama's Fully Homomorphic Encryption (FHE) to enhance privacy and transparency in blockchain transactions. This integration aims to provide a secure, verifiable experience for users.
Kaal Dhairya, a key developer, announced the partnership with Zama, an open-source cryptography firm, to integrate FHE into the Shiba Inu ecosystem. Zama's CEO, Rand Hindi, highlighted that their FHE-powered virtual machine (fhEVM) allows encrypted data to be processed securely without changing existing blockchain protocols.
This development addresses a significant blockchain challenge: balancing transparency with privacy. The new system ensures validators cannot access sensitive data while maintaining seamless smart contract operations.
By adopting these technologies, Shiba Inu reinforces its position as a leader in blockchain development. This comes amidst growing momentum for its Layer-2 blockchain, Shibarium, which has surpassed 620 million transactions and 2 million wallets.
The network’s increased user activity indicates Shibarium's growth as a hub in the decentralized space, gaining attention from the crypto community. Shiba Inu, the second-largest meme coin, has seen a 70% value increase over the past month.
Source: beincrypto.com ↗