Created in August 2020 by a founder called Ryoshi.Instead, Shiba Inu calls itself a “Dogecoin killer.” Like many other cryptocurrencies, Shiba Inu operates on a decentralized computer network running a database called blockchain. This blockchain database tracks and SHIBges the crypto coin, verifying transactions and recording every transaction that occurs with it. So the database ends up being a long-running record of the movement of the cryptocurrency. Specifically, Shiba Inu runs on the Ethereum blockchain, offering the safety and functionality of that platform.
Many see SHIB as an investment vehicle, an asset to buy and hold, as the token is designed to be able to outpace Dogecoin in terms of growth without even reaching $0.01. The launch of the ShibaSwap exchange will bring broader utility to SHIB as it will enable holders to stake (bury) and farm (dig) their tokens. The Shiba project as a whole also has other functions, such as rescuing real Shiba Inus through its Amazon Smile campaign and bringing the artistic Shiba movement to the NFT market through the artist incubator.
The Shiba Inu network is secured through the process of staking SHIB. It’s also based on the Ethereum network, which currently employs the Proof of Work consensus mechanism. However, PoW is time-consuming and energy inefficient. This is why Ethereum is upgrading to Proof of Stake, bringing with it cheaper and faster transactions for the network.
ShibaSwap also offers a marketplace for non-fungible tokens (NFTs). Its NFTs are called Shiboshis, which are pixelated cartoons of Shiba Inu dogs, all with their own unique characteristics. In addition, the Shiba Inu team is developing a Shiboshi game that will use these characters.
Create scenes, artworks, challenges and more, using the simple Builder tool, then take part in events to win prizes. For more experienced creators, the SDK provides the tools to fill the world with social games and applications.
This can include SHIB, limited edition NFTs, and opportunities to help the SHIB ecosystem grow.
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SHIB has brought together a highly skilled team. Those who have founded, scaled, and exited high-value, high-volume games combined with those who have deep expertise in emerging technology and digital currencies. Culturally, we value flexibility and creativity in the workspace. For that reason, we all work remotely, full time. Gone are the days of long commutes and cubicles. We believe our workforce thrives from that freedom and outputs even more creativity and inventiveness due to the lack of physical constraints on their work flow.
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