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Shiba Inu Reflects on 2024 Key Developments and Strategic Progress

Shiba Inu marketing lead Lucie highlights the major developments introduced in the crypto ecosystem this year.

Shiba Inu has recorded an impressive performance, ranging from the introduction of new technological solutions to its participation in critical crypto-related events.

Lucie Highlights Major Shiba Inu Development in 2024

In an X post titled “2024 Recap,” Shiba Inu marketing specialist Lucie highlighted the major developments that have occurred within the SHIB ecosystem this year.

2024 Recap: Key Developments So Far https://t.co/KBMdomim9y / #Shibarium

1.Shibarium Layer-2 Solution: Significant progress was made with the Shibarium Layer-2 solution, enhancing scalability and efficiency within the Shiba ecosystem.

2.Shibdentity: Introduced the Shibdentity… pic.twitter.com/JHbktyEFWb

— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) June 5, 2024

Shibarium Enhancement

At the top of the list is the enhancement of Shibarium, Shiba Inu’s Layer-2 scaling solution. The development arm of the Shiba Inu ecosystem rolled out significant upgrades to the L2 solution, which enhanced its efficiency and scalability.

These enhancements were introduced through the highly anticipated hard fork in May. With the hard fork completed, Shibarium users now enjoy blazing-fast transactions and predictable gas fees.

Shibdentity

According to Lucie, the second critical development rolled out in 2024 in the Shiba Inu ecosystem is the Shibdentity initiative. The project marked a pivotal step toward ushering in a new era of digital identity within the Shiba Inu ecosystem.

Notably, Shiba Inu made significant moves towards achieving this goal, including collaborating with popular DNS provider D3 Global.

SHEboshi Launch

In addition, Lucie highlighted the launch of SHEboshi (SHEB) as one of the key developments introduced this year. For context, SHEB is a collection of 20,000 Ethereum-based DN404 tokens. Launched in February 2024, the token sold out in five minutes and bagged a listing on a centralized crypto exchange the following day.

Announcement of L3 Blockchain

Shiba Inu’s upcoming privacy-focused L3 blockchain is the fourth project on the list. In April, the Shiba Inu team announced that it raised $12 million to build an L3 blockchain, leveraging the upcoming TREAT token as its utility and governance token. The Crypto Basic reported that the testnet version of the network would launch in Q3 2024. However, no date has been set for the mainnet launch.

Token2049 Conference

Lucie also highlighted Shiba Inu’s participation at the Token2049 conference in Dubai as another pivotal milestone recorded by the cryptocurrency this year. The event, which occurred in mid-April, saw Shiba Inu participate as a gold sponsor.

The Shiba Inu ecosystem team engaged with top industry stakeholders and also participated in a Polo Cup competition, which it lost against Bitcoin.com. In addition to the Token2049 conference, Shiba Inu sponsored and participated in the 2024 Web3 Summit in Dubai, which was held in mid-April.

ShibaSwap Transition on Shibarium

Lastly, Lucie mentioned the transition of Shiba Inu’s decentralized exchange, ShibaSwap, to Shibarium. The Crypto Basic reported that ShibaSwap completed its transition to Shibarium in May. According to Lucie, this transition enhanced the ecosystem’s reach and functionality.

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