The Shiba Inu (SHIB) community is gearing up for a new upgrade set to launch by the end of 2024. The anticipated upgrade is expected to strengthen Shiba Inu’s decentralization by empowering the community with greater control and influence over the network.

Shiba Inu’s New Upgrade

In an exclusive interview with Arab Business, the pseudonymous Shiba Inu lead developer, Shytoshi Kusama announced a new upgrade that is set to significantly alter the Shiba Inu network. According to Kusama, by the end of 2024, the anonymous founders and core development team of the Shiba Inu meme coin will be handing everything over to the community.

The reason for this decision is to fulfill their vision of true decentralization, in 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 spreading power and influence across a broad, and diverse audience.

With the realization of this critical upgrade, the Shiba Inu community will have full control and decision making power over the network, bringing it in closer alignment with the fundamental principles of decentralization in cryptocurrencies. This upgrade could also mark the beginning of a new era, not just for the SHIB network, but for the broader crypto space, which aims to develop systems and networks governed collectively by the community rather than a single entity.

Kusama and Kaal Dhairya, another prominent figure in the Shiba Inu ecosystem, have indicated their intention to blend into the community as regular members, supporting the goal of achieving complete decentralization for Shiba Inu.

“We are normal community members. We started off by buying tokens off the exchanges like everyone else. And we just took the experiment and the vision that was laid out by Ryoshi to its completion,” Dhairya stated.

Initially launched as a small-cap meme coin, over the years SHIBhas evolved into one of the most popular meme based cryptocurrencies in the space. This growth has also significantly boosted its value, positioning it as the second-largest meme coin by market capitalization. At the time of writing, Shiba Inu is trading at a price of $0.000013 and has a market capitalization of $8.05 billion.

Embracing A Leaderless Future

During the interview, Kusama disclosed that he and other prominent figures in the Shiba Inu ecosystem will be stepping down officially from their leadership positions by the end of the year. They clarified that their decision is not to abandon the crypto project, but to further empower the community beyond the current levels of engagement.

Wearing a mask and using a modulated voice to maintain his anonymity, Kusama disclosed that he has no plans to ever reveal his identity to the public. According to the Shiba Inu lead developer, the power of SHIB does not lie in himself or Dhairya, but in its community, advanced technology and unique status as a dog themed meme coin.