Shiba Inu Secures Multimillion-Dollar Funding for Game-Changing Layer 3 Blockchain with FHE Technology

Shiba Inu has secured a multimillion-dollar funding round, with participation from non-U.S. venture capital firms. The funding will be used to build a new Layer 3 blockchain network with Fully Homomorphic Encryption (FHE) technology, aiming to revolutionize the industry with enhanced privacy and trust.

Shiba Inu Raises Multimillion-Dollar Funding for Revolutionary Layer 3 Blockchain

Zurich, Switzerland - April 22, 2023

Shiba Inu, the popular meme cryptocurrency, has successfully concluded a strategic multimillion-dollar venture capital (VC) funding round for its highly anticipated Layer 3 blockchain network. The funding round attracted participation from a consortium of non-U.S. venture capital firms, including:

• Polygon Ventures
• Animoca Brands
• Shima Capital
• Morningstar Ventures
• Stake Capital
• Comma 3 Ventures
• Woodstock Fund

The funding, which was announced on Monday, will be used to accelerate the development and deployment of Shiba Inu's new blockchain network, which will leverage Fully Homomorphic Encryption (FHE) technology to revolutionize data privacy and trust in the cryptocurrency industry.

Revolutionizing Data Privacy with Fully Homomorphic Encryption

Fully Homomorphic Encryption (FHE) is a groundbreaking cryptographic technique that allows computations to be performed on encrypted data without decrypting it first. This technology has the potential to revolutionize the cryptocurrency industry by enabling secure and private transactions, as well as unlocking new possibilities for data analysis and computation.

Shiba Inu's new Layer 3 blockchain will leverage Zama.ai's FHE technology to solve several critical problems plaguing the crypto industry, including:

• Privacy: FHE allows users to conduct transactions and perform computations without revealing their data, addressing concerns about data breaches and surveillance.
• Trust: FHE ensures the integrity and authenticity of data, mitigating the risks of tampering and fraud.

Unlocking New Possibilities with TREAT Token

In conjunction with the funding announcement, Shiba Inu also revealed plans to issue a new utility and governance token called TREAT. TREAT will be the final non-stable token from the Shiba Inu team and will play a pivotal role in unlocking the new privacy-focused blockchain.

TREAT will be used to grant access to Shibarium, Shiba Inu's Ethereum Layer 2 blockchain, and to power the new Layer 3 blockchain. Users will be able to stake TREAT to participate in network governance and earn rewards.

Support from Industry Leaders

Shiba Inu's lead developer, Shytoshi Kusama, expressed his excitement about the support of such prestigious venture capitalists, brands, and angel investors. He stated that their backing was a testament to the strength and potential of Shiba Inu's blockchain vision.

"Winning the support of these powerful VCs, brands, and angel investors is incredibly exciting and demonstrates the transformative potential of our Layer 3 blockchain," said Kusama. "We are now one step closer to completing this grand decentralized experiment and creating a truly secure and private blockchain ecosystem."

Conclusion

Shiba Inu's successful funding round represents a major milestone in the development of its Layer 3 blockchain network. Leveraging FHE technology, Shiba Inu aims to address critical challenges in the cryptocurrency industry and unlock new possibilities for data privacy and trust. With the support of industry leaders, Shiba Inu is well-positioned to revolutionize the future of blockchain technology and empower its global community of tens of millions of users.