Shiba Inu has been making the news for a long time, and it’s always for the right reasons. After Nowpayments and Bitpay integrations, the top coin has quickly garnered popularity and even acceptability as a means of payment in various areas since its launch in August 2020. Its pricing has reflected its popularity at this time.
ShibSwap, the Sihb ecosystem exchange, is now regarded as the industry’s second most secure technology. Furthermore, Shiba Inu was named the third most popular project on CertiK’s Security Leaderboard.
The CertiK Security Leaderboard, a security research business in the crypto, web3, and DeFi industries, compiled and confirmed these figures. The firm’s conclusions were published in a tweet.
A short review of the report’s findings reveals that ShibSwap has a security score of 95%. The security scores consider social sentiment, statistical analysis, governance and autonomy, on-chain monitoring, market volatility, and safety assessment, among other things. Skynet, a security intelligence engine, also aided the research.
On the other hand, Shiba Inu is ranked third on Certick’s security leatherboard.
Why is Security Important?
Security in the crypto sector is a critical consideration that cannot be overlooked, especially when billions of dollars are at stake. Therefore, Crypto projects devote a significant amount of time and money to safeguarding their networks and code bases. This is why a ranking like this is so important for Shiba Inu.
Hackers have breached networks and stolen funds in the past. Terra Luna is the most recent cryptocurrency to fail. The coin is now battling to keep its worth after losing more than 99 percent of its value.
Utility Token vs. Memecoin
The Shiba Inu community has worked hard to transform the coin from a joke to a legitimate utility token. ShibSwap, an exclusive exchange for the coin, assists in this effort.
Shiba Inu is no longer a meme coin, as it now has a functioning ecosystem.