Per a recent update on the Shibarium Discord server, the forthcoming Shiba Inu cold wallet would boast intriguing technology and a distinctive appearance.
The Shiba Inu ecosystem is exhibiting significant potential by introducing several novel technologies to enhance its functionality. The latest development indicates that the community may soon witness the launch of a customized cold wallet designed explicitly for Shiba Inu.
This was recently disclosed in the Shibarium Discord server. According to the announcement, the team is currently holding general Ask Me Anything (AMA) sessions with Huobi, a prominent Seychelles-based exchange, and Certik, a leading blockchain, and smart contract security company.
The statement revealed that Shiba Inu developers are seeking to partner with these entities to launch a specialized cold wallet dedicated to the Shiba Inu ecosystem. The cold wallet is expected to feature cutting-edge technology and a captivating design.
The disclosure has generated enthusiasm from the Shiba Inu community, with Lucie, a prominent community member, taking to Twitter to share the development.
Image Source: https://twitter.com/LucieSHIB/status/1651703143460208644
However, details on the project’s progress are currently scant. The announcement implies that the involved parties are still evaluating the feasibility of a partnership. As a result, no specific launch date has been made public, and the specifics of the wallet’s features remain undisclosed at the time of writing.
Why a Shiba Inu Cold Wallet is Important
Nonetheless, the rollout of a customized Shiba Inu cold wallet significantly enhances the SHIB infrastructure. A cold wallet is a digital wallet specially designed to store cryptocurrencies offline. It is often used as a secure and reliable option for storing assets over a long period since it reduces the risk of cyber threats.
The broader crypto community has consistently emphasized the importance of storing one’s assets in cold wallets, considering the growing incidence of targeted hacks in the crypto industry.
As revealed in Certik’s latest quarterly report, cybercriminals stole $320 million in cryptocurrency assets during Q1 of 2023 alone. Moreover, Bitrue experienced a security breach on one of its hot wallets earlier this month that resulted in the theft of 172 billion SHIB.
In light of this growing security concern, a cold wallet tailored to the Shiba Inu ecosystem has become an essential tool for long-term investors. The project is now on the list of upcoming initiatives the community anticipates, including Shibarium, ShibaSwap 2.0, and SHIB: The Metaverse.