Shiba Inu will launch a privacy-focused new network on the Shibarium chain.

According to BlockBeats news on February 29th, Shiba Inu announced the launch of a new privacy-focused network on the Shibarium blockchain to empower the SHIB token. Shiba Inu is collaborating with open-source encryption company Zama to develop the network, which uses a privacy tool called fully homomorphic encryption (FHE) that allows developers to use data in an untrusted domain without decryption. 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.