Shiba Inu Developers Introduce Self-Sovereign Identity to Empower Users: Shibarium and Digital Trust
Shiba Inu (SHIB) developers, led by Shytoshi Kusama, have been working on Self-Sovereign Identity (SSI) to give Shiba Inu users more control over their online data.
The Shiba Inu ecosystem, which includes tokens like LEASH and BONE, is experiencing significant growth and adoption as digital assets and blockchain technology become more mainstream. With a fully diluted valuation of approximately $8.6 billion, the ecosystem is poised for further expansion.
However, relying solely on speculative aspects is not enough in the competitive meme coin industry. To address this, the Shiba Inu developers have been working on a layer two scaling solution called Shibarium. Similar to Polygon (MATIC) and Arbitrum (ARB) on the Ethereum network, Shibarium aims to safely and efficiently bring more Web3 users into the Shiba Inu ecosystem.
One challenge the developers have faced is distinguishing between artificial intelligence (AI) bots and humans. In response to the rise of AI, the Shiba Inu core developers are working on a digital verification system for the upcoming Shibarium network.
The intention is to link all applications to a blockchain-based digital identity for enhanced trust among Shiba Inu users and governments. This collaboration with DeFi protocols allows governments to ensure compliance with local regulations, including taxation and data protection.
Recognizing the growing interest in digital identities and data protection, especially in Canada and the European Union, the Shiba Inu developers aim to position Shibarium and SHIB as a leading project among other blockchains. According to Shytoshi Kusama, the lead developer of Shiba Inu, they are laying the groundwork for a new global standard in decentralized digital trust and international identity verification.
To give Shiba Inu users greater control over their personal data, the core developers are implementing Self-Sovereign Identity (SSI). This approach further safeguards identity documents such as passports and driver’s licenses. The Shiba Inu developers are currently deploying Self-Sovereign Identity on decentralized applications that will be built upon the soon-to-be-launched Shibarium layer two networks.
Shiba Inu is currently trading around $0.00000823, showing a 5 percent decline year-to-date. On-chain data reveals that the Shiba Inu network boasts approximately 1.32 million holders who have conducted around 10,802,986 transactions. Notably, around 41 percent of Shiba Inu’s total supply has already been burned, and the Shibarium network is expected to accelerate this burning rate.
In conclusion, Shiba Inu developers are actively working on Self-Sovereign Identity to empower users and enhance digital trust. Through the implementation of Shibarium and digital verification systems, the Shiba Inu ecosystem aims to establish itself as a reliable and secure platform. By providing users with greater control over their personal data, Shiba Inu strives to embrace a new digital age of enhanced faith in systems and decentralized digital trust.
