Discover the basics of Shiba Inu, its related tokens and decentralized exchange and how to participate in its ecosystem.
In this beginner's guide, we'll take a closer look at what Shiba Inu is, how it works, and what makes it stand out from other cryptocurrencies. So, let's dive in and explore the world of SHIB., Shiba Inu has carved out its distinct identity in the crypto universe. Its development is guided by principles outlined in a unique"woof paper," a playful take on the traditional white paper that outlines a cryptocurrency's project plan and roadmap.
The Shiba Inu ecosystem is unique for its total supply of one quadrillion SHIB tokens, the highest number of coins ever created in the crypto space. Half of this supply was locked in the decentralized exchange Uniswap at launch. The other half was transferred to Vitalik Buterin, sparking considerable controversy — since the team had claimed these tokens were burned, yet Buterin was able to access them and sell them.
ShibaSwap, the decentralized exchange within the Shiba Inu ecosystem, is a crucial component of SHIB's operation. It allows users to trade cryptocurrencies without the constraints of a centralized platform. On ShibaSwap, users can provide liquidity, stake, and swap any of the three Shiba Inu tokens.For newcomers to the crypto world, it's essential to understand that Shiba Inu coins cannot be mined in the traditional sense like Bitcoin or Ethereum.
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