According to CryptoPotato, the development team behind Dogecoin spinoff Shiba Inu has introduced a new tool called Fully Homomorphic Encryption (FHE) to enhance user privacy in the SHIB and Web 3 ecosystems. The technology, developed in collaboration with Web3 encryption leader Zama, offers complete on-chain data protection for SHIB community members. FHE allows users to unlock the value of data on untrusted domains without needing to decrypt it, providing protection for personal and transactional data against data breaches.
Shytoshi Kusama, the pseudonymous developer leading the Shiba Inu project, stated that FHE is a seminal milestone in delivering their promise to turn the SHIB community into a nation-state of Shibizens. Rand, CEO and Co-Founder of Zama, said that FHE will catalyze the growth of the SHIB ecosystem, enabling a wide range of new use cases on the Shiba Inu platform and setting a new benchmark for blockchain privacy and security.
FHE will utilize Shiba Inu's new privacy layer powered by TREAT, a token that provides liquidity for the SHI stablecoin. In the past seven days, the price of TREAT has risen by 131%.
