The Shiba Inu has made a name for itself over the years, and with each new partnership, the meme moves further away from the realm of being a “joke” to becoming a mainstream investment option. Once again, the team is behind Famous crypto project She took a big step after announcing a brand new partnership. This partnership is with Zama, “an open source crypto company building cutting-edge fully homomorphic encryption (FHE) solutions for blockchain and AI.”
New Frontiers for Shiba Inu
Lucy, Shiba Inu’s marketing director and executive, has moved to the X (formerly Twitter) platform. Tells SHIB community of an exciting new partnership. This partnership with Zama aligns with the team’s vision of creating a fully homomorphic encryption (FHE) system.
According to the post, leveraging the Zama system creates more secure environments for interacting with datasets by not having to decrypt information for analysis. In this way, companies are able to avoid security issues while performing their analyzes without fear or threat of exploitation. Lucy uses the analogy of “a locked box that allows operations without opening it.”
Furthermore, the Shiba Inu team member explained how FHE technology could have major impacts on cryptocurrencies. One example of this is creating confidential smart contracts that are able to carry out their functions without publishing any sensitive data or information.
Another application is running for non-fungible token (NFT) auctions. FHE allows investors to place private bids on NFTs without disclosing them to the public. Ultimately, only the winning bid is announced, ensuring bidders’ privacy long after the auction has ended.
Other applications include securing data analysis by allowing analysis of aggregated data, cryptographic key signing which helps enhance security when executing cross-chain transactions, and facilitating investments in assets without exposing investor information, which is a major concern in the real world. Asset industry.
Main applications of SHIB
When it comes Shiba Inu itselfLucy also explained how the partnership with Zama will benefit the project. First, the marketing leader explains that the partnership will help open the door to new use cases for ecosystem projects. This ranges from BONE to TREAT, as well as the upcoming Metaverse game and the Shedentity program.
“Although FHE is still evolving and improving in terms of efficiency, its potential is great, and the research community is actively working to overcome the challenges associated with it,” Lucy told the community.
Featured image created with Dall.E, chart from Tradingview.com