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Shiba Inu Developers Plans To Launch Customized Cold Wallet

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Shiba Inu developers have increased momentum in pursuing ecosystem developmental projects.

An April 27 update revealed the Shiba Inu community might soon launch a cold wallet designed for SHIB tokens.

Per the announcement, the SHIB developer team is organizing a general Ask Me Anything (AMA) session with Huobi, a Seychelles-based crypto exchange.

Certik, a prominent blockchain, and Smart Contract security company, also participates in the Ask Me Anything session.

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Upcoming Shib Inu Cold Wallet Will Feature Cutting-Edge Technology

The update noted that SHIB developers want to partner with these firms to roll out customized cold wallets specially dedicated to the Shiba Inu ecosystem.

The customized cold wallet would feature state-of-the-art technology with an exciting design.

This announcement sparked excitement among the Shiba Inu community. Lucie, a notable community member, took to Twitter to share the latest development.

But the details of the project are still sketchy since the developers did not say much about its progress or features.

The announcement suggests the parties are still assessing the project and partnership feasibility and are therefore not yet at liberty to tell the public.

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Also, they did not disclose a specific launch date for the project, and the wallet’s features remain unknown.

Importance of Cold Wallets To The Shiba Inu Ecosystem

Notably, a customized cold wallet will enhance the SHIB structure and boost confidence among token holders.

A cold wallet, also called a hardware wallet, is a type of crypto wallet that stores digital assets offline, often on a physical device.

Crypto asset holders often use it for long-term secure asset storage to minimize the risk of cyber-attacks.

The growing concern for cyber-attacks in the crypto industry has caused many to lose confidence in crypto wallets.

Several top crypto industry players have emphasized the need to store assets in cold wallets, given the high prevalence of hack attacks.

According to Certik’s quarterly report, Q1 2023 saw a loss of $320 million in digital assets from the crypto industry.

The recent security breach on Bitrue’s hot wallet, causing a loss of 172 billion SHIB tokens, further emphasizes the need for the customized Shiba Inu cold wallet.

A cold wallet dedicated to the Shiba Inu ecosystem could help mitigate this risk and allow long-term investors to store their assets with peace of mind.

Besides Shibarium mainnet and SHIB Metaverse, the cold wallet has entered the list of highly anticipated projects in the SHIB community.

 

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