One of the main features that distinguishes SHIB from other cryptocurrencies is its security. According to CertiK, a leading security research firm, SHIB is the second most secure crypto project on its Web3 Security Leaderboard, with a trust score of 93%. This means that SHIB has undergone rigorous audits and checks to ensure its code quality, performance, governance, and liquidity.
Shiba Inu Regains Trust After Recent Issues
CertiK’s trust score is based on several factors, such as the number and severity of security findings, the age and distribution of the token holders, the market volatility and liquidity of the token, and the community and social sentiment. SHIB has performed well in all these aspects, demonstrating its resilience and reliability as a crypto project.
One of the recent achievements that boosted SHIB’s security rating was its successful audit by CertiK for its decentralized exchange platform, ShibaSwap. ShibaSwap allows users to swap, stake, and farm SHIB and other related tokens, such as LEASH and BONE. The audit report revealed that ShibaSwap had resolved or acknowledged all the major and critical issues identified by CertiK, and had implemented best practices to ensure the safety of its users’ funds.
Another factor that contributed to SHIB’s high-security score was its large and active community of supporters. SHIB has over 1.3 million token holders, making it one of the most widely distributed cryptocurrencies in the market.
It also has a strong social media presence, with over 2.4 million followers on Twitter and over 1.8 million members on Telegram. These numbers reflect the enthusiasm and loyalty of the SHIB army, who are constantly promoting and spreading awareness about the project.
SHIB Has Worked Hard to Solve Security Issues
SHIB’s security is also enhanced by its decentralization and transparency. SHIB is an ERC-20 token that runs on the Ethereum network, which is known for its robustness and innovation. SHIB’s smart contracts are verified and open-source, meaning anyone can inspect and verify their functionality.
Moreover, SHIB’s founder Ryoshi has renounced his ownership of the project and donated 50% of the total supply to Ethereum co-founder Vitalik Buterin, who later burned most of it. This gesture was meant to show that SHIB is not controlled by any single entity or authority but by its community.