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CertiK Places Shiba Inu Decentralized Exchange ShibaSwap At 2nd Spot As the Most Secure Platform

thecryptobasic.com 14 May 2022 11:06, UTC
Reading time: ~3 m

ShibSwap Grabs 2nd position As The Most Secure platform As Shiba Inu Becomes The 3rd Most Trending Project on CertiK.

Shiba Inu has been in the headlines for quite some time now, and it’s always for good reasons. Since it was created in August 2020, the top coin has rapidly gained popularity and even acceptance as a means of payment in some sectors. Its price action during this period has reflected its popularity.

Now, the Sihb ecosystem exchange ShibSwap exchange is being hailed as the second most secure system in the industry. Besides that, Shiba Inu has also been recognized as the 3rd most popular project on CertiK’s Security Leaderboard.

These statistics have been collected and verified by the CertiK Security Leaderboard, a security research firm working in the crypto, web3, and DeFi industries. The firm released its findings in a recent tweet.

Currently the #2-ranked Security Score and #3 Trending Project on CertiK’s Security Leaderboard is @Shibtoken

Have you joined the #ShibArmy?

View on-chain analytics, powered by Skynet, for #SHIB at https://t.co/ICSISKiqzp

— CertiK Security Leaderboard (@CertiKCommunity) May 13, 2022

A quick look at the report’s details shows that ShibSwap has attained a security score of 95%. The security scores cover various aspects of the entire crypto project, including social sentiment, statistic analysis, governance and autonomy, on-chain monitoring, market volatility, and safety assessment. Skynet, a security intelligence engine, also powered the research.

While Shiba Inu, as an altcoin, gets 3rd place on Certick’s security leatherboard.

Why Strong Security Matters

Security in the crypto space is a paramount factor that can’t be ignored, especially when it concerns investors’ funds running into billions of dollars. Crypto projects invest many resources in securing their networks and code bases. This is why this kind of ranking is very significant for Shiba Inu.

For example, there have been instances where hackers have breached systems and stolen funds. Even some exchanges, including Binance and other top entities, have experienced this. Terra Luna is the latest crypto project to fall victim to adequate security check points. The coin is now struggling to survive, having lost over 99% of its value.

Memecoin Vs. Utility Token

The Shiba Inu community has been working hard to turn the coin from being just a meme coin into a credible utility token. This drive is boosted by ShibSwap, which is an exclusive exchange for the coin.

Shiba Inu is no longer a meme coin as the coin has a complete ecosystem in progress.

Shiba Inu NFTs, Shibarium, Shiba Inu Game & Metaverse, Shiba decentralized exchange, and Burn portal distinguished the coin from a meme coin. Even dogecoin, which has been present since 2013, doesn’t have enough utilities like Shiba Inu.

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