Shiba Inu has made a name for itself over the years, and with each new partnership, the meme coin moves further from the realm of being a “joke” to becoming a mainstream investment option. Once again, the team behind the popular crypto project have taken an important step after announcing a new partnership. This partnership with Zama, “an open source crypto company creating next-generation fully homomorphic encryption (FHE) solutions for blockchain and artificial intelligence.”
A new frontier for Shiba Inu
Lucie, leader and marketing executive at Shiba Inu, turned to the x platform (formerly twitter) to x.com/LucieSHIB/status/1840643504403284326″ rel=”nofollow” target=”_blank”>inform to the SHIB community of an exciting new partnership. This partnership with Zama is in line with the team's vision of creating a fully homomorphic encryption system (FHE).
According to the publication, leveraging the Zama system creates more secure environments for interacting with data sets by not requiring decryption of the information for analysis. This way, companies can avoid security issues while conducting their analysis without fear or threat of exploitation. Lucie uses the analogy of “a closed box that allows operations without opening it.”
Additionally, the Shiba Inu team member described how FHE technology could have a significant impact for cryptocurrencies. An example of this is the creation of confidential smart contracts that are capable of carrying out their functions without making any sensitive information or data public.
Another application comes into play for non-fungible token (nft) auctions. FHE allows investors to make private bids on an nft without disclosing it to the public. In the end, only the winning bid is made public, ensuring bidder privacy long after the auction ends.
Other applications include securing data analytics by enabling analysis of aggregated data, encrypted key signing that helps improve security when conducting cross-chain transactions, and facilitating asset investments without revealing investors' information, a major concern in the real world. Asset industry.
Main applications of SHIB
when it comes to Shiba Inu himselfLucie also described how the partnership with Zama will benefit the project. On the one hand, 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 Shidentity program.
“Although FHE is still evolving and improving in efficiency, its potential is substantial and the research community is actively working to overcome the challenges associated with it,” Lucie told the community.
Featured image created with Dall.E, chart from Tradingview.com
