In a significant move towards decentralized digital identity, the developers behind the popular cryptocurrency Shiba Inu have announced a collaboration with internet domain player D3 to launch a new “.shib” internet and blockchain domain. This initiative is part of a broader push to integrate identity-focused projects within the Shiba Inu ecosystem.
We're partnering with @ShibToken to apply for and obtain the .shib Top-Level Domain (TLD) 🤝
— D3 (@D3inc) December 19, 2023
The Shiba Inu network representatives revealed in a Telegram chat that they are actively working on the application for the .shib domain. The plan is to submit it through ICANN, the global database for internet domains, during the next application window.
ICANN’s approval process ensures that the domain owners have the exclusive right to sell the domain suffix, which in the case of crypto domains, links a wallet’s owner to a domain name. This can serve as a proof of identity on blockchain applications, thereby enhancing privacy.
Shytoshi Kusama on Expanding SHIB Ecosystem with .shib Domains
Shytoshi Kusama, the Lead Developer of Shiba Inu, expressed enthusiasm about the partnership with D3, stating that it will allow them to reach beyond the existing ShibArmy and provide over 5 billion internet users with immediate entry to the SHIB ecosystem. Kusama emphasized that the introduction of real domains to SHIB is a crucial step in expanding their vision for digital identities and driving long-term revenue within the decentralized ecosystem.
To truly understand why today's announcement is so important, one must ask…what is Web 3?
I guess a better question is… what is the **promise** of Web 3? pic.twitter.com/Eam8Zh4OBe
— Shytoshi Kusama™ (@ShytoshiKusama) December 19, 2023
The .shib domains will integrate with Shiba Inu’s existing Shib Name Service (SNS), which was launched in November. The SNS is designed to facilitate digital identity verification for all products built on the Shiba Inu blockchain and Shibarium, a layer 2 network. Shiba Inu’s price did not react at all to the news, trading at $0.00001034, up 0.5% in the last 24 hours.
The move by Shiba Inu is a testament to the growing trend of leveraging blockchain technology for digital identity verification. As the world increasingly moves towards Web3, initiatives like the .shib domain are set to play a pivotal role in shaping the future of online identity and privacy.