The Shiba Inu (SHIB) community is preparing for a new upgrade that will be launched in late 2024. The upcoming upgrade is expected to strengthen the decentralization of Shiba Inu by giving the community more control and influence over the network.

The new upgrade of Shiba Inu

In an exclusive interview with Arab Business, the pseudonymous Shiba Inu lead developer, Shytoshi Kusama announced a new upgrade that will significantly change the Shiba Inu network. According to Kusama, the anonymous founders and core development team of the Shiba Inu meme coin will turn everything over to the community.

The reason for this decision is to realize their vision real decentralizationin which the Shiba Inu network will no longer be dependent on a group of developers or leaders. Typically, a community-led crypto network embodies the principles of decentralization by distributing power and influence across a broad and diverse audience.

With the completion of this critical upgrade, the Shiba Inu community will have full control and decision-making authority over the network, bringing it more closely into line with the founding principles of decentralization in cryptocurrenciesThis upgrade could also mark the beginning of a new era, not only for the SHIB networkbut for the broader crypto space, which is focused on developing systems and networks that are governed collectively by the community rather than by a single entity.

Kusama and Bald Dhairyaanother prominent figure in the Shiba Inu ecosystem, have indicated that they plan to join the community as permanent members, supporting the goal of full decentralization for Shiba Inu.

“We are normal community members. We started by buying tokens from the exchanges, just like everyone else. And we have successfully completed the experiment and vision that Ryoshi set out,” Dhairya said.

SHIB initially launched as a small-cap meme coin, but over the years has grown into one of the most popular meme-based cryptocurrencies in space. This growth has also significantly increased its valuemaking it the second largest meme coin of market capitalizationAt the time of writing, Shiba Inu is trading at a price of $0.000013 and has a market cap of $8.05 billion.

Embracing a Leaderless Future

During the interview, Kusama said announced that he and other prominent figures in the Shiba Inu ecosystem will officially resign of their leadership positions by the end of the year. They clarified that their decision is not to leave the crypto project, but to further strengthen the community beyond the current levels of engagement.

Kusama wore a mask and used a modulated voice to maintain his anonymity. He revealed that he has no plans to ever reveal his identity to the public. According to the Shiba Inu lead developer, SHIB’s power lies not in himself or Dhairya, but in its community, advanced technology, and unique status as a dog-themed meme coin.

Main image created with Dall.E, chart from Tradingview.com