CertiK Places Shiba Inu Decentralized Exchange ShibaSwap At 2nd Spot As the Most Secure Platform

ShibSwap is the second most secure platform, while Shiba Inu is the third most popular project on CertiK.

Shiba Inu has been making the news for a long time, and it's always for the right reasons. After Nowpayments and Bitpay integrations, the top coin has quickly garnered popularity and even acceptability as a means of payment in various areas since its launch in August 2020. Its pricing has reflected its popularity at this time.

ShibSwap, the Sihb ecosystem exchange, is now regarded as the industry's second most secure technology. Furthermore, Shiba Inu was named the third most popular project on CertiK's Security Leaderboard.

The CertiK Security Leaderboard, a security research business that works in the crypto, web3, and DeFi industries, compiled and confirmed these figures. In a recent tweet, the business revealed its findings.

A short review of the report's findings reveals that ShibSwap has a security score of 95%. The security scores consider social sentiment, statistical analysis, governance and autonomy, on-chain monitoring, market volatility, and safety assessment, among other things. The research was also aided by Skynet, a security intelligence engine.

Shiba Inu, on the other hand, is ranked third on Certick's security leatherboard.

Why is Strong Security Important?

Security in the crypto sector is a critical consideration that cannot be overlooked, especially when billions of dollars are at stake. Crypto projects devote a significant amount of time and money to safeguarding their networks and code bases. This is why a ranking like this is so important for Shiba Inu.

Hackers have breached networks and stolen funds in the past, for example. This has happened to some exchanges, including Binance and other well-known organizations. Terra Luna is the most recent cryptocurrency to fail to pass adequate security checks. The coin is now battling to keep its worth after losing more than 99 percent of its value.

Utility Token vs. Memecoin

The Shiba Inu community has worked hard to transform the coin from a joke to a legitimate utility token. ShibSwap, an exclusive exchange for the coin, is assisting in this effort.

Shiba Inu is no longer a meme coin, as it now has a functioning ecosystem.

The coin was distinguished from a meme coin by Shiba Inu Games, Shibarium, Shiba Inu NFTs & Metaverse, Burn portal and Shiba decentralized exchange. Even dogecoin, which has been around since 2013, lacks the same level of use as Shiba Inu.