As a researcher with a keen interest in decentralized systems and the evolution of cryptocurrencies, I find the upcoming Shiba Inu upgrade to be a significant milestone in the crypto world. Having closely observed the journey of SHIB from its humble beginnings as a meme coin to its current status as one of the largest in the space, it’s fascinating to see how far it has come.
By the close of 2024, the Shiba Inu (SHIB) community is preparing for a major update. This upcoming change aims to enhance Shiba Inu’s decentralization by providing the community with more power and say in managing the network, boosting their control and influence over it.
Shiba Inu’s New Upgrade
In an interview with Arab Business, the anonymous developer behind Shiba Inu, known as Shytoshi Kusama, revealed upcoming changes that could transform the Shiba Inu network. By the year 2024, according to Kusama, the original founders and key developers of the Shiba Inu meme coin plan to transfer all control to the community.
The purpose behind this choice is to achieve their ideal of genuine decentralization, where the Shiba Inu network becomes self-sufficient, no longer reliant on a specific group of developers or leaders. Essentially, a community-driven crypto network embodies decentralization by distributing power and control among a wide and varied group of participants.
By implementing this essential update, the Shiba Inu community will gain complete control and decision-making authority over their network, making it more in line with the core values of decentralization typical in cryptocurrencies. This upgrade might signal the start of a new phase, not just for the SHIB network, but for the broader crypto industry, which strives to establish systems and networks managed collaboratively by the community instead of a singular entity.
Kusama and Kaal Dhairya, well-known figures within the Shiba Inu community, have expressed their desire to integrate as ordinary members, contributing towards the aim of full decentralization for Shiba Inu.
“Dhairya explained that we, much like any other community members, initially acquired our tokens from exchanges. Since then, we’ve been dedicated to carrying out the mission and vision set forth by Ryoshi.”
Originally introduced as a meme token in its infancy, SHIB has transformed over time into one of the most widely recognized meme-based cryptocurrencies within the industry. This development has also substantially increased its worth, placing it as the second largest meme coin by market capitalization. At present, Shiba Inu is being traded at $0.000013 and boasts a market cap of $8.05 billion.
Embracing A Leaderless Future
During the interview, Kusama revealed that they, along with other key figures in the Shiba Inu ecosystem, plan to formally relinquish their leadership roles by year-end. They emphasized that this is not a retreat from the cryptocurrency project, but rather a move to give the community more power and involvement than it currently has.
Wearing a mask and using a modulated voice to maintain his anonymity, Kusama disclosed that he has no plans to ever reveal his identity to the public. According to the Shiba Inu lead developer, the power of SHIB does not lie in himself or Dhairya, but in its community, advanced technology and unique status as a dog themed meme coin.
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2024-08-21 20:11