It should be noted that today there are so many variations of cryptocurrencies to choose from to make your investment prospects bright. One of them is the shib coin. We believe many are still unfamiliar with this type of currency. Because after all it must be known that with so many variants of cryptocurrencies, of course, it cannot make everyone memorize them one by one.
So most people only glance at a few types of currencies that have bright prospects and have the potential to provide profits. SHIB or Shiba Inu is included in one type of cryptocurrency which is included in one of the lists of potential types of cryptocurrencies. Based on the official website, they say that they are Dogecoin Killer.
What is Shiba Inu?
What is SHIB? Shiba Inu is the first token that is operated 100% by its community to create its decentralized standard. According to some sources, cryptocurrencies that are unable to maintain their independence will face a fragile existence.
So the Shiba Inu community wants to see if a decentralized protocol can work or not when a crypto coin doesn’t have funding, doesn’t have a centralized team. So Shib coin was launched by sending 50% token supply to Ethereum founders.
How Shiba Inu Works
Then how does this coin work? It should be noted beforehand that Shib itself is an ERC-20 token backed by Ethereum. So that when running on Ethereum, this cryptocurrency can take advantage of smart contracts to create decentralized contracts. So this currency has plans to enter decentralized finance which is finding momentum after seeing the increase in protocol prices and adoption through decentralized exchanges and artist incubators.
Then the incubator allows the artist to use the Ethereum network system. This is done to auction off tokens that cannot be exchanged for smart contracts that create a non-fungible token market. Once DEX is launched, users can stake their shib coin for BONES. BONE is an advanced asset that can take the power of decentralized finance to a higher level.