Shiba Inu will launch a privacy-focused new network on the Shibarium chain to empower the SHIB token

ChainCatcher news, according to CoinDesk, Shiba Inu has announced the launch of a privacy-focused new network on the Shibarium blockchain to empower the SHIB token.

It is reported that Shiba Inu is collaborating with the open-source crypto company Zama to develop this network, with the exact mechanism known as Fully Homomorphic Encryption (FHE), which is a privacy tool that allows developers to use data in untrusted domains without the need for decryption.

In addition, the new privacy layer allows developers to add a centralized network on top of Shibarium, which is a Layer 2 network that settles transactions on the Ethereum blockchain.