According to CoinDesk, Shiba Inu announced that it will launch a privacy-focused new 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 mechanism called Fully Homomorphic Encryption (FHE), a privacy tool that allows developers to use data on untrusted domains 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.