Shiba Inu (SHIB) has raised $12 million for a new privacy blockchain project through the sale of its TREAT tokens. The funds were raised from numerous investors including Comma 3 Ventures, Shima Capital, and Animoca Brands. TREAT will power the new blockchain, which will feature Fully Homomorphic Encryption (FHE) providing increased security for crypto traders.
Shiba Inu Ecosystem Raises $12 Million for Privacy Blockchain, Revolutionizing Crypto Security with Fully Homomorphic Encryption
New York, NY - In a groundbreaking move that is set to revolutionize the cryptocurrency market, the Shiba Inu (SHIB) ecosystem has secured an additional $12 million in funding for the development of a new privacy blockchain. This significant investment will fuel the creation of a cutting-edge blockchain that incorporates Fully Homomorphic Encryption (FHE), a breakthrough technology that offers unprecedented levels of data security.
The funding round witnessed the participation of a diverse group of renowned crypto investors, including Comma 3 Ventures, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, and Animoca Brands, among others. The funds were raised through the sale of TREAT tokens, the native token of the new privacy blockchain. TREAT is designed to serve as the governance and utility token within the privacy-centric ecosystem.
The Shiba Inu team emphasized that TREAT is their final non-stable token and that the privacy blockchain will be powered by FHE, a state-of-the-art encryption technique. FHE enables users to perform computations on encrypted data without decrypting it, providing an unparalleled level of data protection.
"The integration of FHE into our privacy blockchain marks a significant milestone for Shiba Inu," said Ryoshi, the anonymous founder of Shiba Inu. "This advanced encryption technology will safeguard our users' data and transactions, offering them a secure and private platform for their crypto activities."
The announcement of the funding has sparked excitement within the crypto community, with SHIB experiencing a 0.47% increase in value as of Tuesday morning. However, the trading volume has witnessed a 28.7% decline over the past 24 hours. Notably, SHIB surged 2.2% yesterday following the funding announcement, indicating investor confidence in the project.
The Shiba Inu ecosystem's commitment to developing innovative and secure solutions has garnered widespread recognition within the crypto industry. The integration of FHE into their privacy blockchain is expected to attract a wider range of investors seeking a secure and private platform for their crypto investments.
As the crypto market continues to evolve, privacy and security become increasingly crucial aspects. The Shiba Inu ecosystem's latest move demonstrates their relentless pursuit of innovation and their dedication to providing users with a secure and cutting-edge platform. With the development of their privacy blockchain powered by FHE, Shiba Inu is poised to become a leader in the next generation of secure cryptocurrencies.
