thecryptobasic.com
Shiba Inu’s lead developer, Shytoshi Kusama, has expressed appreciation for the chance to work with its new partner, Zama.
Earlier this week, Shiba Inu unveiled a new partnership with cryptography-focused firm Zama. The partnership is expected to enhance the security and privacy of transactions in the Shiba Inu ecosystem and has been one of the major talking points for the SHIB community this week.
Unsurprisingly, Shiba Inu’s lead developer, Shytoshi Kusama, is still excited about the deal, leading praises to the Zama team. Kusama’s latest post followed an article by a leading crypto media publication about Shiba Inu’s partnership with Zama.
Evidently, one of the perks of the Zama partnership is exposure to a broad audience for both parties. However, another benefit, especially for Zama, is the chance to offer its solutions to the millions of users in the SHIB community.
Love these guys so much! @zama_fhe 👇👇👇💪 https://t.co/7QFqzBfbiD
— Shytoshi Kusama™ (@ShytoshiKusama) February 29, 2024
What Zama Brings to the Table for Shiba Inu
The Paris-based company’s core offering is Fully Homomorphic Encryption (FHE), a cryptographic technology that allows developers to receive, process, and transfer encrypted data. Unlike traditional technologies that require decrypting before information can be processed, FHE allows for full encryption, thus protecting the privacy and security of the data throughout its life cycle.
As previously reported by The Crypto Basic, Shiba Inu will initially adopt FHE for its yet-to-launch TREAT token. The blockchain project may also eventually extend the functionality to its other ecosystem offerings.
While partnerships such as the most recent one between Shiba Inu and Zama may not directly impact prices, they serve the purpose of enhancing Web3 technology, as Shytoshi Kusama noted in the original announcement. Additionally, they also underline Shiba Inu’s long-term commitment to the blockchain industry.
At the time of writing, Shiba Inu is the 16th largest cryptocurrency by market cap, valued at over $7.5 billion. Its trading price of around $0.00001275 represents a 33% increase in the past month.