New feature turns Shiba Inu into privacy coin like Monero or ZCash

  • The non-custodial privacy dApp Bermuda announced support for Shiba Inu (SHIB) allowing its users to conduct anonymous transactions.
  • The Shiba Inu ecosystem continues to expand as the community eagerly awaits the launch of the Layer-2 Shibarium protocol.

The world’s second-largest memecoin Shiba Inu (SHIB) has been once again in the news as the Bermuda Privacy DAPP now allows users to transfer their SHIB holdings anonymously to any wallet.

This means that the SHIB coins can perform similarly to other privacy coins in the market such as ZCash and Monero. The non-custodial privacy dApp Bermuda recently announced its support for Shiba Inu. In its announcement, Bermuda noted that users would be able to transfer their SHIB to other wallets without disclosing their personal wallet address during the transfer. This brings along a layer of privacy for all SHIB holders while transferring their coins.

Bermuda’s application of allowing users to make anonymous crypto payments isn’t just limited to Shiba Inu. This non-custodial, privacy-focused decentralized application (dApp) supports other digital assets as well for conducting anonymous transactions.

Whenever a user makes a payment using Bermuda, the dApp replaces the real wallet address with a virtual address. This helps to keep the user’s identity and transaction details private.

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Ever since the crypto bull run of 2021, the Shiba Inu ecosystem has continued to expand with more and more exchanges announcing support for the memecoin. Recently, crypto custodian BitGo also announced support for Shiba Inu, allowing users to securely store, send, and receive SHIB coins on both custodial as well as hot wallets.

Shiba Inu and Shibarium

Currently, the entire Shiba Inu community has been eagerly waiting for the launch of the Layer-2 scalability solution Shibarium. As per several industry experts, the Shibarium launch is expected in the next few weeks and could be somewhere around mid-February.

The Shibarium launch will likely provide a boost to the Shiba Inu ecosystem as it plans to bring low-cost transactions while offering greater scalability. Although the Shibarium L2 platform is in the making, some players have already started showing interest in the platform.

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Shiba Inu lead developer Shytoshi Kusama recently noted that Shibarium will be useful in different crypto projects such as Falcon 9 (F9) and Metabet (MBET). “I’m so excited to see projects like F9, Ufo, MBet, VXL, and other tokens utilize Shibarium and our other platforms. That’s the point, right?!” he said. 

Popular crypto influencer SHIB Knight also noted that the team behind Shibarium is also working on a bridge solution to allow them to easily transfer assets to Ethereum.

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