Your Insider Look into Shiba Inuโs Revolutionary Layer 3 Blockchain Project ๐
Get ready to dive into the fascinating world of Shiba Inuโs latest venture in the crypto sphere. Shiba Inu has recently made waves by raising a whopping $12 million through the sale of its unreleased token, TREAT, to non-U.S. venture capital investors. This marks a significant milestone in the journey towards introducing a privacy-focused Layer 3 blockchain to the masses. Whatโs more, some of the biggest names in the industry have come forward to support this innovative project.
๐ Token Fundraising Details and Rounds
- The fundraising for Shiba Inuโs groundbreaking project has recently concluded after several months, including pre-seed and seed rounds.
- The exact valuation of the project remains undisclosed, but it was divided into tranches, with valuations of $75 million, $100 million, and $200 million for each tranche.
- Shiba Inuโs lead developer, Shytoshi Kusama, has unveiled that the upcoming TREAT token will function as a utility and governance token for their new Layer 3 blockchain.
- This new blockchain, built on Shibarium, the Ethereum Layer 2 blockchain, is designed to prioritize privacy.
๐ก Whatโs New?
- Shiba Inuโs upcoming Layer 3 blockchain is poised to leverage fully homomorphic encryption (FHE) technology from Zama, a cryptography company that recently secured $73 million in funding.
- FHE is distinguished by its ability to encrypt data end-to-end, even during processing, addressing critical issues like privacy and trust in the crypto space.
- The development of this blockchain is focused on meeting international regulatory standards, particularly in safeguarding data privacy and individual security.
๐ Future Plans and Release Schedule
- The new blockchain is set to unveil a testnet in the third quarter of this year, followed by the mainnet after extensive testing.
- To combat potential scams, the project is keeping the name of the Layer 3 blockchain under wraps for now.
- Shiba Inu aims to establish a secure, compliant, and privacy-centric platform to cater to its vast community and the wider crypto market.
๐ฅ Hot Take: The Future Looks Bright for Shiba Inuโs Layer 3 Blockchain Project!
As Shiba Inu continues to disrupt the crypto landscape with its innovative approach towards privacy and security, the unveiling of its Layer 3 blockchain project has sent ripples of excitement throughout the industry. With a successful fundraising round and plans for a testnet launch on the horizon, the future indeed looks promising for Shiba Inu and its vision of a privacy-driven blockchain ecosystem. Stay tuned for more updates as this revolutionary project unfolds!
Cino Gaperi stands out as a prominent crypto analyst, accomplished researcher, and adept editor, making significant contributions to the field of cryptocurrency. With a strong background in crypto analysis and research, Cino’s insights delve deep into the intricate aspects of digital assets, appealing to a diverse audience. His keen analytical skills are complemented by his editorial proficiency, allowing him to distill complex crypto information into easily digestible content.