1 week ago
Shiba Inu secured $12 cardinal successful a backing circular done a backstage token merchantability of its upcoming TREAT token to bolster the improvement of an unnamed privacy-focused Layer-3 (L3) blockchain network.
According to an April 22 post connected X (formerly Twitter) by Lucie, the selling pb astatine Shib.io, investors that participated successful the backing circular included Polygon Ventures, Mechanism Capital, Big Brain VC, Shima Capital, Animoca Brands, and DWF Ventures.
Lucie said:
“The layer-3 volition present enhanced privateness features that are not disposable connected the layer-2 network. This tin supply users with much privateness options and information measures erstwhile interacting with the ecosystem.”
This determination reflects Shiba Inu’s continued strategic shift towards becoming a versatile inferior blockchain network. Notably, the memecoin began this pivot past twelvemonth with the palmy rollout of Shibarium, the ecosystem’s Ethereum Layer-2 (L2) scaling solution.
Layer-3 network
Developers program to leverage Zama’s cutting-edge, afloat homomorphic encryption (FHE) exertion and physique the L3 web connected apical of Shibarium
Shiba Inu described the FHE exertion arsenic akin to a “magic box” due to the fact that it enables nonstop operations connected encrypted information without decryption. The exertion ensures delicate accusation remains concealed during computations.
Developers program to merchandise a preliminary mentation of the L3 web successful the 3rd 4th of this year. The web volition prioritize regulatory compliance alongside robust information and privateness measures.
TREAT volition service arsenic the inferior and governance token for the caller privacy-centric L3 blockchain.
Shibarium sees outage
Meanwhile, Shiba Inu’s Ethereum layer-2 web Shibarium experienced a little outage contiguous owed to networking issues among the validators.
Shiba Inu developer Kaal Dhairya said:
“[The] web is backmost up and moving present [but] immoderate services similar shibariumscan oregon outer RPCs tin inactive stay down until the steps provided are implemented.”
Since its launch, Shibarium has seen important adoption, pushing its full transaction volumes to astir 418 million, according to Shibariumscan data.
The station Shibarium sees little outage amid Shiba Inu’s Layer-3 blockchain ambitions appeared archetypal connected CryptoSlate.
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