History
The cryptocurrency Shiba Inu was created in August 2020 by an anonymous person named "Ryoshi". Modeled after Dogecoin, Shiba-Inu was also originally launched as a so-called fun cryptocurrency (meme coin). Within a very short time, however, a real community and large following developed around Shiba-Inu.
Technology
In contrast to Dogecoin, the Shiba-Inu coin is based on the Ethereum blockchain and is a so-called ERC 20 token. ERC 20 represents the technical standard for smart contracts used to implement tokens on the Ethereum blockchain. The coin, also in contrast to Dogecoin, follows a deflationary concept - the stock of tradable coins thus decreases in the long term.
Goals and acceptance of Shiba Inu
One goal of the developers of SHIB is that the currency can be used as a means of payment, similar to Dogecoin, e.g. for leisure activities. The U.S. cinema chain AMC Entertainment and the listed online electronics retailer Newegg have already announced that they will also accept SHIB as a means of payment in the future. In December 2021, SHIB was integrated into the Flexa Payment Network, which means that the cryptocurrency is now accepted as a means of payment at more than 40,000 merchants in the US and Canada.
Further development
SHIB has been among the top ten cryptocurrencies in the world by market capitalization since October 27, 2021, and is currently listed at 9th place (as of October 28, 2021). The SHIB coin is listed for trading on well-known investment and crypto exchanges such as Coinbase, Binance, Kraken, and eToro. In the future, a listing on the trading platform Robinhood is also planned. In addition to private investors, there are now even some institutional investors, such as venture capitalists or hedge funds invested in SHIB. At the end of November 2021, the cryptocurrency reached one million holders.
In December 2021, it was announced that the development team of Shiba Inu is working on its own metaverse called "Oshiverse". The focus is to be clearly in the gaming area. For the new project, Shiba Inu was able to win over the well-known game developer William David Volk.
Ok
Good to know. Shib has potential. Good article.
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