Shiba Inu was created in August 2020 by an anonymous person or persons under the pseudonym "Ryoshi". It is an ERC-20 based token running on the Ethereum blockchain. Shiba Inu aims to be the Ethereum-based equivalent of Dogecoin's Srypt-based mining algorithm. It is known to set out with the aim of creating a decentralised and spontaneous community.
SHIB is up 2.25% in the last 24 hours. It can be said that this rise may have been caused by Shiba Inu's lead developer's announcement that they plan to integrate Self-Sovereign Identity (SSI) into their protocols. This move is expected to improve network security and give users more control over their digital identities. It is stated that the use of SSI means a model that provides a secure and autonomous system where individuals and businesses have sole ownership and control over their accounts and personal data.
