Shiba Inu Introduces u2018.shibu2019 Domain for SHIB Owners, Uniting Web2 and Web3
The Shiba Inu cryptocurrency team has made an exciting announcement in the digital domain space. They are introducing the ‘shib’ domain, exclusively for SHIB coin holders. This move is a significant step in bridging the gap between traditional internet systems (Web2) and the emerging Web3 technology.
Shiba Inu, the dog-themed memecoin known for its vibrant community and innovative projects, is now entering the domain name system (DNS). In collaboration with D3, a specialized internet domain firm, Shiba Inu aims to launch a top-level domain (TLD) called ‘.shib.’ This initiative is different from current Web3 domains like ‘.crypto’ and ‘.eth,’ as it seamlessly integrates with the DNS used by standard internet applications.
To enhance Web3 interoperability, the ‘.shib’ domain is designed to work smoothly with commonly used internet tools like web browsers and email systems. This is a significant advancement since current Web2 domains like ‘.com’ and ‘.net’ lack native functionality with Web3 tools such as digital wallets and identity solutions.
To make this initiative a reality, D3 will need to apply to the Internet Corporation for Assigned Names and Numbers (ICANN), a US-based non-profit organization responsible for coordinating internet-related databases. Once approved, SHIB holders will have the unique opportunity to create email addresses and other identifiers ending with the ‘.shib’ suffix, fully compatible with conventional email applications.
In addition to the domain name initiative, D3 plans to introduce ‘name tokens’ for SHIB users. These tokens will simplify the process of sending digital assets across different blockchains, eliminating the need for long and complex wallet addresses. This feature aims to improve user experience and accessibility within the SHIB ecosystem.
Despite this innovative announcement, the market value of the SHIB cryptocurrency has seen a minimal change, with a decrease of less than 1% since the news. However, the broader implications of this development could be substantial in terms of user engagement and ecosystem growth.
Shiba Inu’s Shibarium network, a new layer two blockchain, reached a milestone of 1 million users in September. While currently in private mode, plans are underway to make it publicly accessible soon, further expanding the Shiba Inu ecosystem.