Shiba Inu (SHIB) Community Preparing for New Upgrade Set to Launch by the End of 2024

The anticipated upgrade is expected to strengthen Shiba Inu's decentralization by empowering the community with greater control and influence over the network.

The Shiba Inu (SHIB) community is preparing for a new upgrade that will launch by the end of 2024. The upgrade will strengthen Shiba Inu’s decentralization by giving the community more control and influence over the network.

In an exclusive interview with Arab Business, Shiba Inu lead developer Shytoshi Kusama announced the new upgrade, which will see the anonymous founders and core development team of the Shiba Inu meme coin “handing everything over to the community” by the end of 2024.

According to Kusama, the move is part of Shiba Inu’s vision of true decentralization, where the network will no longer be dependent on a group of developers or leaders. In a typical community-led crypto network, the power and influence are spread across a broad and diverse audience, embodying the principles of decentralization.

With the realization of this critical upgrade, the Shiba Inu community will have full control and decision making power over the network, bringing it in closer alignment with the fundamental principles of decentralization in cryptocurrencies. This upgrade could also mark the beginning of a new era, not just for the SHIB network, but for the broader crypto space, which aims to develop systems and networks governed collectively by the community rather than a single entity.

Kusama and Kaal Dhairya, another prominent figure in the Shiba Inu ecosystem, have both expressed their intention to blend into the community as regular members, further supporting the goal of achieving complete decentralization for Shiba Inu.

“We are normal community members. We started off by buying tokens off the exchanges like everyone else. And we just took the experiment and the vision that was laid out by Ryoshi to its completion,” stated Dhairya.

Initially launched as a small-cap meme coin, over the years SHIB has evolved into one of the most popular meme based cryptocurrencies in the space. This growth has also significantly boosted its value, positioning it as the second-largest meme coin by market capitalization. At the time of writing, Shiba Inu is trading at a price of $0.000013 and has a market capitalization of $8.05 billion.

Shiba Inu Lead Developer To Step Down Officially

In the interview, Kusama also revealed that he and other prominent figures in the Shiba Inu ecosystem will be officially stepping down from their leadership positions by the end of the year. They clarified that their decision is not to abandon the crypto project, but to further empower the community beyond the current levels of engagement.

Despite stepping down from his leadership role, Kusama will continue to be a part of the Shiba Inu community, albeit in a different capacity. 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.

The above is the detailed content of Shiba Inu (SHIB) Community Preparing for New Upgrade Set to Launch by the End of 2024. For more information, please follow other related articles on the PHP Chinese website!