The Shiba Inu project is moving beyond the realm of typical memecoins — the team has announced the development of a new privacy-focused identity system called Shib Identity, designed to protect users from future threats posed by quantum computing. In a recent update, the team warned that quantum risks are no longer a distant concern, as tech giants like Apple and Microsoft are already taking steps to address them. Shiba Inu aims to do the same.

"A long-term goal for Shiba Inu includes something that most ecosystems haven’t even begun to consider: a purpose-built identity system called Shib Identity," the team stated.

Digital Sovereignty at the Core

Shib Identity is built on a full-stack architecture that gives users complete control over their privacy and access to personal data. It utilizes cutting-edge fully homomorphic encryption (FHE), which allows data to be processed while still encrypted. This means user credentials remain private and are never revealed, even during verification.

According to the update, this advanced technology provides protection not only against today’s threats but also future challenges posed by quantum computing.


Shiba Inu Teams Up with Zama to Launch .shib Domains

Part of the strategy involves linking Shib Identity with the Shib Name Service (SNS). The project is working on securing approval from the global ICANN authority so that .shib domain names can function as standard internet domains.

Shiba Inu is partnering with French cryptography firm Zama to develop Shib Identity. Zama, a leader in FHE innovation, recently launched a public testnet for its Confidential Blockchain Protocol — a privacy layer that can be deployed across existing blockchains and provides full data encryption, even from node operators.

Shib Identity will be accessible through Shiba Inu’s TREAT token, though the team has yet to reveal how this integration will work, only noting that it is built into the design from the start.

Shiba Inu Advances Technologically, but Price Lags Behind

The identity solution is just one of several developments within the Shiba Inu ecosystem. Others include the Shib Alpha Bridge, a new cross-chain infrastructure linked to the project’s Shiba Alpha Layer-3 network. Shiba Inu has also launched Shibarium Layer-2, Shib Finance, and other initiatives aiming to evolve the project beyond its memecoin origins into a fully functional blockchain protocol.

However, these innovations haven’t yet translated into a stronger SHIB price. So far this year, SHIB has dropped by 38.57%, currently trading at $0.00001334. Although it gained 15% over the past week, the token still struggles to return to its 2021 highs.

The primary issue remains SHIB’s massive supply — 589 trillion tokens — and the limited burn rate. Only 1 billion SHIB were burned over the past seven days, which is a tiny fraction of the total supply.

Additionally, the presence of other ecosystem tokens like TREAT and BONE may be diluting SHIB’s utility. According to CoinMarketCap, TREAT surged 59% in the past week, while BONE rose just 3.85%, reflecting mixed token performance within the ecosystem.



#CyberSecurity , #shibaInu , #CryptoInnovation , #Web3Security , #SHIB

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!

Notice:

,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“