According to CryptoPotato, Shytoshi Kusama and Kaal Dhairya, key developers behind Shiba Inu (SHIB), emphasized that the strength of the cryptocurrency lies in its community rather than individual leaders. They maintain anonymity to uphold this principle. The developers plan to hand over control to the community by the end of 2024 to enhance decentralization.
Shiba Inu, the second-largest meme coin, was launched four years ago by an anonymous entity using the pseudonym 'Ryoshi.' Initially created as an experiment in decentralized community building, SHIB has grown to become one of the most trending cryptocurrencies, with a market capitalization exceeding $8 billion. Over the years, 'Ryoshi' gradually stepped back, passing leadership to another anonymous developer known as Shytoshi Kusama. In a recent interview, Kusama, who wore a mask and had their voice modulated, stated that the power of Shiba Inu is based on its devoted community and not on a few individuals. Kusama emphasized, 'There’s no need for my face to become a public figure. Let the mask remain famous. The power of SHIB is not because of me or because of Kaal, it is because of the community. And that is what is most important: the technology to take Web 2 to Web 3 and the brand of a very special dog breed that has gone viral many times as a meme.'
Kaal Dhairya, another enigmatic leader behind Shiba Inu, also participated in the interview. They claimed that anonymity is the best way to blend with the community and get their 'true, honest feedback.' The developers announced that they will hand control over to the community and step away at the end of 2024. According to Kusama, this move aligns with their vision for true decentralization in the cryptocurrency space. The development is not about abandoning the project but rather 'empowering the community even more than they already have.' While Shiba Inu is decentralized in its governance and ecosystem, the degree of decentralization can vary depending on how actively the community participates in development processes. If a large portion of the SHIB Army (a term used to collectively describe all Shiba Inu investors, proponents, and traders) is passive, decision-making could become concentrated among a smaller group of engaging participants.
