What causes Shiba Inu to grow?
The Layer-3 platform was the designated recipient of a $12 million investment in April, which prompted this move. According to reports, the valuations of these fundraising attempts have reached $200 million. The expansion of the ecosystem was brought to light by Lucie, who also brought attention to the launch of two new currencies, TREAT and SHI, that are expected to introduce groundbreaking decentralized applications.
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In a partnership with open-source cryptography startup Zama, the next Layer-3 blockchain will incorporate Fully Homomorphic Encryption (FHE) and will be based on Shibarium, an existing Ethereum Layer-2 network. This technology will provide developers with the ability to handle data safely without the need for decryption, hence enhancing the network’s security.
The Shiba Inu: Who Is It Criticized?
The Shiba Inu community is worried about the amount and speed of development, despite the lofty goals. An irate member of the community questioned why a Layer-3 network had to be built before the Layer-2 network was finished. More generally, people are worried about the project’s goals and approach, Shiba Inu blockchain, and this feeling reflects that.
Opinions and Worries of the Community
- People in the community are feeling both excited and frustrated.
- Raised concerns about the project’s narrow emphasis and quick growth.
- Criticisms of Pepe, Dogwifhat, and Bonk, among other memecoins.
Despite a 65% increase since the start of the year. The Shiba Inu is still 80% below its all-time high. Making Lucie’s announcements all the more important. Members of the community are becoming increasingly frustrated as other members. Such as Pepe, Dogwifhat, Bonk, and Shiba TREAT tokens, continue to perform better than SHIB. The emphasis is on numerous tokens, according to another community member. Takes attention away from SHIB’s plans for expansion and token burn.
In conclusion
Shiba Inu’s lofty goals show an effort to reinvigorate. The project and produce practical value for a new Layer-3 blockchain and extra tokens. Nevertheless, as shown by the community’s diverse views. The project has difficulties in achieving a balance between innovation and sustainable expansion.
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