Shiba Inu [SHIB] update: 620M transactions, new privacy upgrade – Impact on price?

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  • Shibarium’s FHE integration marked a pivotal SHIB update for on-chain privacy
  • Enhanced privacy features strengthened Shibarium’s position as a developer-friendly DeFi platform

As a seasoned crypto investor with over a decade of experience navigating the volatile world of digital assets, I can confidently say that Shiba Inu‘s latest update, integrating FHE technology from Zama, is nothing short of revolutionary. The privacy-focused upgrade not only strengthens Shibarium’s position as a developer-friendly DeFi platform but also addresses a longstanding issue in the industry – maintaining user security without compromising transparency.

The Shiba Inu [SHIB] system plans to incorporate Fully Homomorphic Encryption (FHE) technology during the upcoming Shibarium update, which represents an extraordinary advancement in the history of the SHIB ecosystem.

In partnership with Zama, we’re working towards improving privacy without compromising the openness inherent in blockchain technology, tackling a significant challenge within the realm of decentralized finance.

This SHIB update reinforces user security by facilitating secure, encrypted transactions and maintaining a focus on privacy features, all while preserving the fundamental values of Decentralized Finance (DeFi).

Shiba Inu’s price action

In the last four weeks, Shiba Inu’s value significantly increased by more than 40%, reaching a peak of $0.00003224. However, it encountered resistance close to $0.00003300 and didn’t manage to surpass that level.

The onset of this upward trend started in early November, aligning with heightened excitement about the advancements in Shibarium and the overall growth of meme coins.

On the other hand, recent trading periods suggest a period of consolidation since the RSI falls short of overbought levels, which is a clear sign that demand is diminishing.

Currently, the OBV continues to hold at elevated points, which indicates ongoing investment build-up by market participants.

Consequently, since Shiba Inu (SHIB) is currently confined to a narrow trading band, a surge beyond crucial resistance might indicate another upward phase. This possible surge may be reinforced by robust network action and increased transaction volumes.

SHIB update: What is FHE?

Shiba Inu’s integration of Zama’s FHE technology is a key SHIB update focused on improving privacy.

As explained by developer Kaal Dhairya, this partnership allows Shibarium’s smart contracts to effortlessly handle encrypted data. By doing so, it upholds the current blockchain procedures and fosters continued trust among users.

Zama’s CEO, Rand Hindi, emphasized that the fhEVM enables transactions with programmable privacy features and encryption.

Is your portfolio green? Check the Shiba Inu Profit Calculator

During the execution of contracts, validators are prevented from obtaining sensitive data, thereby boosting security levels significantly. Additionally, this advancement enables functionalities such as confidential assets management and decentralized decision-making processes.

With more developers delving into Shibarium due to its strong infrastructure and emphasis on privacy, this SHIB upgrade solidifies the platform’s status as a frontrunner in secure, decentralized transactions.

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2024-12-09 21:11