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- Shiba Inu has partnered with D3 to introduce .SHIB domain names.
- The Shiba Inu and Shibarium ecosystem is recording impressive milestones.
In a strategic move toward advancing identity-focused projects, Shiba Inu developers have announced their partnership with internet domain player D3 to introduce a “.shib” top-level domain.
As highlighted in a recent report, this alliance aims to leverage the power of blockchain technology and enhance the Shiba Inu ecosystem by bringing real domains to the SHIB community.
Shiba Inu’s Partnership with D3 and ICANN Application
Representatives from Shiba Inu have revealed that the application will be submitted through the Internet Corporation for Assigned Names and Numbers (ICANN), the global database responsible for managing Internet domains. Upon successful approval by ICANN, Shiba Inu will gain the exclusive right to sell all domains within the ‘.shib’ suffix, positioning itself as a pioneer among Web3 networks with its dedicated DNS namespace.
Shiba Inu’s Lead Developer, Shytoshi Kusama, stressed the importance of this partnership, stating, “Our partnership with D3 allows us to scale outside of the existing ShibArmy and give over 5 billion Internet users direct access to the SHIB ecosystem.”
Notably, the introduction of the ‘.shib’ domain aligns with the cryptocurrency’s vision of expanding digital identities within its decentralized ecosystem while driving long-term revenue generation.
As part of the collaboration, Shiba Inu’s existing Shib Name Service (SNS) will transition to D3’s infrastructure. SNS, introduced in November, serves as a digital identity verification system for products built on the Shiba Inu blockchain and Shibarium, Shiba Inu’s Layer-2 blockchain.
This platform aims to empower users with increased control over their digital identities through self-custodial authentication, decentralized verifiable credentials, and smart wallets adhering to W3C standards.
In a recent update, Kusama hinted at a major partnership, emphasizing the importance of global adoption for Shiba Inu. To accelerate this adoption, plans are underway to burn billions of SHIB tokens. Kusama believes that a new era of crypto, blockchain, and Web3 requires emerging decentralized leaders to challenge the status quo and build innovative solutions.
Shibarium’s Impressive Milestone
Meanwhile, Shibarium achieved a remarkable milestone by surpassing 100 million transactions recently. The network’s daily transaction count peaked at 7.36 million, solidifying its position as a robust and active blockchain ecosystem. The platform expressed gratitude to the community for contributing to this achievement, dubbing it a “moonstone” in recognition of its importance.
Shiba Inu’s commitment to decentralization extends beyond scalable solutions, encompassing tokens, exchanges, and Non-Fungible Tokens (NFTs). ShibaSwap, the decentralized exchange within the ecosystem, is actively transitioning to Shibarium to enhance the user experience and reduce gas fees.
Recognizing the metaverse as a gateway to vast opportunities, Shiba Inu is actively constructing a metaverse ecosystem. The development of diverse Decentralized Applications (DApps) spanning DeFi, art, and gaming exemplifies Shiba Inu’s dedication to exploring the full potential of the metaverse.
SHIB is currently trading at $0.00001022, down 1.57% with a market capitalization of $6.02 billion and a 24-hour trading volume of $174.14 million.
