Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Shiba Inu teams up with Zama to boost Shibarium security

Shiba Inu teams up with Zama to boost Shibarium security

GrafaGrafa2024/10/01 03:55
By:Liezl Gambe

Shiba Inu (CRYPTO:SHIB) has entered into a new partnership with cryptography firm Zama to enhance the security and privacy of its Shibarium layer-2 network.

The collaboration will integrate Fully Homomorphic Encryption (FHE) technology, which allows data privacy to be maintained during blockchain transactions and smart contract execution.

This advancement aims to secure sensitive information such as financial data and NFT identities without exposing it on the blockchain.

LUCIE, the marketing strategist for Shibarium, revealed the partnership on X (formerly Twitter), explaining the potential of FHE to strengthen the ecosystem’s privacy and governance frameworks.

According to LUCIE, this partnership opens the door to various new use cases for Shibarium, including projects like Treat and Bone.

"Although FHE is still evolving, its potential is substantial, and the research community is actively working to overcome the challenges associated with it," LUCIE noted.

While this collaboration is seen as a step forward in securing the Shiba Inu ecosystem, SHIB’s price has declined by more than 6% over the last 24 hours, making it the worst performer in that time frame.

Despite the recent dip, SHIB has maintained positive momentum over the past two weeks, thanks to recent rallies that saw its market cap temporarily exceed $12.5 billion.

Shiba Inu supporters are optimistic that the Zama partnership could eventually propel the coin’s value.

However, some have raised concerns about whether this development will truly enhance the security of Shibarium.

LUCIE addressed these concerns by affirming that Shibarium will have more options for security and that FHE will be implemented as an L3 layer.

Currently, SHIB’s market cap stands at approximately $10.8 billion, positioning it as the 14th-largest cryptocurrency despite the recent downturn.

At the time of reporting, the Shiba Inu price was $0.00001815.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Crypto Market Cap Falls Below $2.75T After Sharp Drop

The total crypto market cap dips 4.6% in 24 hours, falling below $2.75T, losing $874B since its recent peak.Market Sees Sharp CorrectionLosses Deepen Since January PeakCaution Prevails Amid Uncertain Outlook

Coinomedia2025/04/03 22:00
Crypto Market Cap Falls Below $2.75T After Sharp Drop

Why Blockchain Developers Are Watching Qubetics, Solana, and Tezos—Top Altcoin for Huge Gains in 2025

Explore the latest updates on Qubetics, Solana, and Tezos in 2025. Discover their features, innovations, and why Qubetics stands out as the top altcoin for huge gains.Qubetics: The Future of Blockchain SolutionsSolana: The Scalability ChampionTezos: Steady Progress and Consistent UpgradesGeneral Comparison: Qubetics vs Solana vs TezosConclusion: The Future Is Now with Qubetics

Coinomedia2025/04/03 22:00
Why Blockchain Developers Are Watching Qubetics, Solana, and Tezos—Top Altcoin for Huge Gains in 2025

Block to Enable Bitcoin Payments on Terminals

Jack Dorsey confirms Block is working to add Bitcoin payments on merchant terminals.Bitcoin Integration Coming to Block TerminalsWhat This Means for Merchants and UsersStrengthening Bitcoin’s Real-World Use

Coinomedia2025/04/03 22:00
Block to Enable Bitcoin Payments on Terminals

Wintermute Profits as FDUSD Regains Its Peg

Wintermute redeems 75M FDUSD after the stablecoin depegged, likely profiting from discounted buys.Capitalizing on a Depeg OpportunityHow Stablecoin Arbitrage WorksImplications for the Market

Coinomedia2025/04/03 22:00
Wintermute Profits as FDUSD Regains Its Peg