What network protocol does Shiba Inu coin rely on?

3 answers

• Arthur WeitzJan 12, 2023 · 3 years ago
  Shiba Inu coin relies on the Ethereum network protocol. It is an ERC-20 token, which means it is built on the Ethereum blockchain. The Ethereum network protocol allows for the creation and execution of smart contracts, which is a key feature of Shiba Inu coin. Smart contracts enable the automatic execution of predefined conditions, such as the distribution of rewards or the transfer of tokens.
  396

  198
• Forrest BarkerMar 28, 2024 · a year ago
  Shiba Inu coin uses the same network protocol as other ERC-20 tokens on the Ethereum blockchain. This protocol ensures the secure and decentralized transfer of tokens between addresses. It also allows for the verification and validation of transactions through a consensus mechanism called Proof of Work. This network protocol has been widely adopted in the cryptocurrency industry and is known for its reliability and scalability.
  431

  144
• Fritz NuetzelJan 30, 2025 · 6 months ago
  Shiba Inu coin relies on the Ethereum network protocol, which is a widely recognized and trusted protocol in the cryptocurrency space. The Ethereum network provides a robust infrastructure for the development and deployment of decentralized applications (DApps) and smart contracts. By leveraging this network protocol, Shiba Inu coin benefits from the security, scalability, and interoperability offered by the Ethereum blockchain.
  432

  108