SHIB shiba-inu Token, the history and the future of one of the most speculative coins in the crypto market.
Doge 2.0? Lets meet SHIB!
You are probably a cryptocurrency trader, investor, or enthusiast. In any case you should be aware of the up and coming crypto market. SHIB is a new breed of coins that seem promising in the future. With its community being one of the most positive out there and its team members having an impressive resume, it would not be foolhardy to make this investment to catch what seems like a game-changing coin in its early stages. Keep reading on for more details about SHIB!
According to its whitepaper “SHIB is a decentralized, peer-to-peer (P2P) digital currency that enables instant payments to anyone in the world. It uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. SHIB Ecosystem comprises a decentralized payment system based on crypto technologies and a suite of open source software projects for use by the community. The project is developed by volunteers from our community.”
The name was derived as an acronym of Shibes Hybrid Internet Based Economy, which is referencing Dogecoin’s popularity. Shibes are also the official name of its Reddit community.
The big difference between SHIB and most other cryptocurrencies is its mining algorithm, which is both CPU and GPU friendly (GPU-only algorithm are typically more profitable). The main goal of the SHIB project is to facilitate instant transactions, as well as to bring about many more innovative features. The approach has been taken by many experienced developers in the crypto world, and is being executed on a wider scale by ERC20 tokens such as Tether’s USDT token, where their goal is to run as fast as possible on as many devices as possible.
There seems to be some confusion about the project’s actual intention with regards to direct transfers from wallet users. The team itself says the project is to provide an “instant payments system” (see the above linked whitepaper) and that the project aims to use its software and services to “build up a network of online merchants accepting SHIB crypto currency”.
The distribution of coins:
5% for the development team. 2% for core team members and contributors.
42% for holders of SHIB coins in a vesting period that ends when SHIB reaches liquidity (in other words, it will be released to the market gradually as the ecosystem is developed more). If SHIB ever hits the top 10 on coinmarketcap, token holders will receive 30% additional liquidity credits. This bonus applies only if SHIB is at least 10th on CoinMarketCap at any time in the last two weeks before maturity.
Mining on the SHIB platform is done using a hybrid algorithm that combines both PoW GPU mining and PoS. This is a first for a cryptocurrency, since they usually just let the PoW miners take all of the profits.
SHIB plans to launch its own unique crypto exchange before any significant launch of software services or merchant acceptance. The exchange will be used to sell SHIB coins at market value, and in conjunction with its other online service platform, will allow users to access any online service provider that accepts money transfers based on the SHIB token.
For more information check out the home of SHIB : https://shibatoken.com/