Shiba Inu Enhances Ecosystem Privacy and Security with Fully Homomorphic Encryption

Quick take:

• The new privacy layer will be powered by SHIB’s reward token $TREAT.
• SHIB has teamed up with Zama, a fully homomorphic encryption technology provider as part of its efforts to make its ecosystem more secure and user-friendly.
• It follows Zama’s recent collaboration with the EVM-compatible confidentiality layer, Inco.

Shiba Inu has announced a collaboration with the fully homomorphic encryption (FHE) technology provider Zama to boost privacy and security in its ecosystem. The company will integrate FHE technology as part of its commitment to community protection without compromising on user experience.

By leveraging FHE technology the company enables SHIB ecosystem users to safeguard their personal and transactional data against the increasing threats of data breaches.

“This advancement offers unparalleled privacy for $SHIB holders, positioning the SHIB community among the first in the Web3 space to enjoy complete on-chain data protection,” the company wrote in a statement.

Commenting on the announcement, the pseudonymous Shytoshi Kusama said: “We know that in order to deliver against our vision for a nation-state, we need to empower our Shibizens to operate with the full confidence that their activity is both private and secure. This partnership with Zama and the implementation of FHE is a seminal milestone in our journey to fulfil that promise”.

The announcement comes barely a week after Zama teamed up with the EVM-compatible confidentiality layer, Inco for enhanced user privacy and security.

Rand, CEO and Co-Founder of Zama commented: “Partnering with SHIB to bring FHE to millions of people in their community is incredibly exciting. Not only will this enable a wide range of new use cases on the Shiba Inu platform, it will also set a new benchmark for blockchain privacy and security.”

Fully homomorphic encryption technology overcomes the shortcomings of zero-knowledge proof-based rollups. It helps blockchain protocols achieve zero trust by unlocking the value of data on untrusted domains without needing to decrypt it.

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