Shibarium1, the Discord and Telegram admin of the Shibarium channels, has taken to Twitter to share their belief that once the Shiba Inu-based SHI stablecoin is released, it will change the playing field for stablecoins, which PayPal is currently attempting to enter with its PYUSD stablecoin.
PYUSD is slammed by the group as being highly centralized.
As news of PayPal’s native stablecoin spread, numerous crypto community members on Twitter began to tweet a screenshot demonstrating that the code of this coin allows business developers to freeze and then destroy PayPal’s customers’ crypto balances at anytime.
Other than the two “alternatives” mentioned above, IT engineer @0xCygaar has tweeted that PYUSD is coded in an extremely old version of Solidity, allowing the owner to increase the overall supply of the stablecoin.
Nonetheless, many locals are celebrating the launch of PayPal stablecoin PYUSD because it represents a significant growth in crypto acceptance.
What about the SHI?
SHI is a stablecoin that the Shiba Inu group is currently working on but has not yet been released.
On Twitter, some sham accounts occasionally claim that it has already gone live. On Sunday, principal developer Shytoshi Kusama responded to a rip-off submission about SHI, noting that the stablecoin had not yet been released.
Unlike PayPal’s controlled stablecoin, the Shiba Inu organization is focused on decentralization and digital id security. As a result, its stablecoin SHI may have a chance for greater adoption.
