Shiba INU is an Ethereum-based token. it was created as a Dogecoin killer. Shiba INU is a purely digital resource, created in 2020 by a secret group called Ryoshi. The Shiba Inu has a supply of 1 quardillion (1,000 trillion) tokens. SHIBA INU does not have its own blockchain, it is built on the Ethereum blockchain.
In June 2021, Shiba Inu launched its own decentralized exchange (DEX) called ShibaSwap.
It was used to exchange various cryptocurrencies for the Shib token. Shiba tokens are ERC-20 tokens, so they are tradable. Each token has a corresponding value so that they can be repeated.
Shiba Inu Use Cases
Shiba Inu currency can be used as a medium of exchange and exchange. Shiba Inu is an ecosystem divided into multiple tokens.
- Shib: It is the most profitable and basic currency of Shiba Inu that is used for trade and as a medium of exchange.
- Bone: It is the governance token of the Shiba Inu ecosystem and will be used to vote on proposals in the next Doggy DAO. Bone token holders can propose and vote for changes to Shibaswap. Holders can earn more by betting this token
- Leash: The purpose of this token is to incentivize liquidity providers (LPs) and even offer special rewards.
- ShibaSwap: – It is a DEX platform, which provides a secure way to trade and trade cryptocurrencies.
- Shiboshi: – Shiboshi are non-fungible tokens (NFTs). 10,000 NFTs are generated on Shiba Inu and written on the Ethereum blockchain. They all have different qualities that make them unique.
Current use cases
- FLEXA, a crypto payment processing start-up, announced in December 2021 that it had added SHIB. Users can use this token to purchase a variety of products at over 40,000 stores in the United States.
- The point of sale of NowPayments, a web-based cryptographic payment protocol, now accepts SHIBA INU as payment.
- At the current cryptographic exchange rate, this protocol converts the sum of the order into encryption.
- With a transaction fee of 0.5%, this protocol allows instant payments.
How is Shiba Inu different from others?
- Shiba INU is built on the Ethereum blockchain which processes transactions faster than other competitors.
- Shiba Inu has one of the strongest communities among all cryptocurrencies.
- The aggressive approach to the development of Shiba Inu distinguishes it from other postures. It was launched as a meme coin, but is now widely accepted worldwide.
- Shiba Inu is widely accepted as a payment method. We have over 40,000 stores that accept this token. Gucci, a leading fashion brand, has also accepted Shiba Inu as payment.
Shiba Inu Competitors
DogeCoin: – Dogecoin has its own blockchain while Shiba Inu is based on the Ethereum blockchain. Elon Musk is a big fan of Dogecoin that helps with its price.
Dogelon Mars: – Dogelon Mars is another Doge-themed coin, a mix of Dogecoin and the name of Elon Musk. Dogelon Mars and Shiba Inu are both ERC-20 tokens built on the Ethereum blockchain. Dogelon Mars is not listed on major exchanges like the Shiba Inu, but the token is intended to serve as an “intergalactic currency” that future space colonists can use on Mars and beyond.
Baby
DogeCoin: – Baby Doge is a cryptocurrency token. The Baby Doge smart contract makes the currency available through the Ethereum wallet and Binance Smart Chain. It is not available for payment like Shiba Inu, but the ecosystem of this coin hosts NFT, Decentralized Finance (DFI), Gamefi and Pet Charity.
