The Shiba Inu ecosystem is on the brink of major advancement as it develops its own Layer 3 network.
In a recent tweet, SHIB team member Lucie provided an important update on various tokens and dApps in the Shiba Inu ecosystem, highlighting the much anticipated Layer 3 network.
🌐 Welcome to the Shib Ecosystem! 🌐Dive into the world of Shib with our unique assets and dApps designed to empower and connect the #SHIBARMY. From $SHIB, $LEASH, $BONE, $SHEB, #Shiboshis, #ShibtheMV, and COMING SOON: $TREAT and $SHI (not yet launched!), to innovative… pic.twitter.com/70MTmFCXo8
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) July 27, 2024
Lucie offered a closer look into the Shiba Inu ecosystem, highlighting unique assets and dApps such as SHIB, LEASH, BONE, Shiboshis and ShibtheMV. Expectations remain on the TREAT and SHI tokens, which are yet to be launched.
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Lucie outlined other Shiba Inu dApps such as ShibaHub, ShibaSwap and Shiba Eternity, all on Shibarium, as well as the SHIB name service developed in partnership with D3inc. The Shiba Inu team member went on to remark that one of the most interesting things coming to the Shiba Inu ecosystem is its very own Layer 3.
Shiba Inu Layer 3 in progress
As Lucie mentioned, Shiba Inu developers are collaborating with the open-source cryptography company Zama on the upcoming Shiba Inu Layer 3 network, which has yet to be named.
This network will utilize Fully Homomorphic Encryption (FHE), a privacy tool that allows developers to use data on untrusted domains without needing to decrypt it, ensuring both security and privacy. Shiba Inu is expected to benefit from FHE, as are all of its tokens and projects, from Bone to Treat, the Metaverse to Shibdentity.
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According to an earlier announcement this year, Shiba Inu intends to launch a new privacy-focused network on top of the Shibarium blockchain.
The upcoming Shiba Inu ecosystem token TREAT will power the "new privacy layer," allowing developers to build a targeted network on top of Shibarium, a Layer-2 network that settles transactions on the Ethereum blockchain. The move is expected to improve on-chain privacy for SHIB token holders while also protecting their personal and transactional data.
