Crypto News

Shiba Inu secures $12M to develop a pioneering layer 3 blockchain

Key crypto venture investors spend $12 million in Shiba Inu's blockchain initiative

Key crypto venture investors spend $12 million in Shiba Inu’s blockchain initiative. This investment strengthens the Shiba Inu crypto ecosystem, which includes the SHIB token, by developing its layer 3 blockchain.

Polygon Ventures, Mechanism Capital, and Animoca Brands contributed to a TREAT token pre-sale. These investments show faith in the project’s crypto innovation potential.

Fully Homomorphic Encryption will enable computations on encrypted data making the forthcoming blockchain secure and private.

It plans to build a testnet in late 2024 and a mainnet after comprehensive testing to prove its reliability and effectiveness.

Possibly worth $200 million, the project’s fundraising phases demonstrate its expanding market importance and Shiba Inu’s expansion. This blockchain endeavor boosts its digital currency market skills and position.

James Wilson is a crypto writer and researcher with over 5 years of experience in the industry. He is a graduate of the University of California, Berkeley, where he studied computer science and economics. After graduating, he worked as a software engineer at a major tech company before transitioning to a career in crypto.