Shiba Inu teams up with Zama to boost Shibarium security
Shiba Inu (CRYPTO:SHIB) has entered into a new partnership with cryptography firm Zama to enhance the security and privacy of its Shibarium layer-2 network.
The collaboration will integrate Fully Homomorphic Encryption (FHE) technology, which allows data privacy to be maintained during blockchain transactions and smart contract execution.
This advancement aims to secure sensitive information such as financial data and NFT identities without exposing it on the blockchain.
LUCIE, the marketing strategist for Shibarium, revealed the partnership on X (formerly Twitter), explaining the potential of FHE to strengthen the ecosystem’s privacy and governance frameworks.
According to LUCIE, this partnership opens the door to various new use cases for Shibarium, including projects like Treat and Bone.
"Although FHE is still evolving, its potential is substantial, and the research community is actively working to overcome the challenges associated with it," LUCIE noted.
While this collaboration is seen as a step forward in securing the Shiba Inu ecosystem, SHIB’s price has declined by more than 6% over the last 24 hours, making it the worst performer in that time frame.
Despite the recent dip, SHIB has maintained positive momentum over the past two weeks, thanks to recent rallies that saw its market cap temporarily exceed $12.5 billion.
Shiba Inu supporters are optimistic that the Zama partnership could eventually propel the coin’s value.
However, some have raised concerns about whether this development will truly enhance the security of Shibarium.
LUCIE addressed these concerns by affirming that Shibarium will have more options for security and that FHE will be implemented as an L3 layer.
Currently, SHIB’s market cap stands at approximately $10.8 billion, positioning it as the 14th-largest cryptocurrency despite the recent downturn.
At the time of reporting, the Shiba Inu price was $0.00001815.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Pepe’s market cap briefly tops $10 billion on back of 77% price surge
The price of the frog-faced memecoin surged 77% in the past 24 hours to trade at $0.000024.Major exchanges, including Coinbase, Robinhood and Upbit, have recently listed Pepe trading pairs.
ETH killers are still no closer to doing the deed
Solana is the crowd favorite to potentially flip Ethereum somewhere down the line, and it tends to feel realistic at times
Bitcoin at $100k very possible before EOY, analysts say
The market is due for a breather, but analysts expect prices to continue moving up in the coming weeks
FBI raids Polymarket founder's home